New Phosphate Discovery In Southern Brazil

Summary

  • New phosphate bearing carbonatite, named Porteira discovered in close proximity to the Três Estradas and Joca Tavares projects located in the state of Rio Grande do Sul
  • Mapping and sampling has identified phosphate mineralisation over extensive areas at Porteira along a magnetic trend with a combined length of about 7 kilometres
  • Limited surface rock chip sampling has returned phosphate grades of up to 11% P2O5
  • A ground magnetic survey has commenced to better define the carbonatite body for follow-up shallow scout drilling
  • Aguia controls over 860 square kilometres in the area and the Company believes Rio Grande do Sul has the potential to host a major new phosphate province in close proximity to infrastructure, primary agriculture customers and fertiliser blenders
  • The Company remains on track to deliver an upgrade to the initial JORC compliant Mineral Resource Statement from the Três Estradas phosphate project within the current quarter