Três Estradas Phosphate Project: Initial Inferred Resource Estimate of 21Mt

Summary

  • Initial JORC compliant inferred resource of 21Mt @ 4.6% P2O5 including higher grade oxide zone from surface of 1.8Mt @ 10.9% P2O5
  • Três Estradas initial inferred resource estimate is derived from shallow auger holes and 19 core holes drilled to 100 metres depth over a length of 1,160 metres
  • Significant potential to expand resource with additional drilling below 100 metres and along the carbonatite zone which extends for an additional length of 1,400 metres
  • Overall grade and preliminary metallurgical results are similar to carbonatite hosted open-cut operating mines in Brazil and globally that are presently mined to depths of 220 metres (Siilinjarvi, Finland) and 375 metres (Cajati, Brazil)
  • Project scoping exercise to commence shortly to produce a concentrated rock phosphate product