Três Estradas Phosphate Resource – Drilling Update

Drilling Program to expand resource progressing well
Três Estradas Phosphate Project

Summary

  • The second stage drilling program at Três Estradas (“TE”) is progressing well with two diamond drill rigs and a reverse circulation rig now on site
  • The diamond drilling program is aimed at expanding the initial JORC compliant inferred resource through additional drilling below 100 metres
  • Eight diamond drill holes of the planned 21 diamond drill holes have now been completed with all holes successfully intersecting the targeted phosphate bearing zone
  • A reverse circulation rig will further test the higher grade oxide zone that extends from surface with 50 x 20 metre holes planned
  • The Company expects initial drilling results to be available from late September