Significant Phosphate Intersections From Surface At Joca Tavares Project In Southern Brazil

  • Previous rock chip assay results of up to 12.5% P2O5 are now supported by excellent first pass results from shallow auger holes.
  • Programs of soil and rock chip sampling confirm mineralised carbonatite host rocks outcropping at surface over a large area in excess of 400 metres x 1,350 metres.
  • Ground magnetic survey now completed with interpretation to assist follow up reverse circulation drill testing and resource definition.
  • Joca Tavares is located 41 kilometres east-south-east from Aguia’s Três Estradas project.
  • The projects show similarities to the carbonatite style hosted phosphate deposits mined by Vale within Brazil, including the Cajati (Reserve: 85.1 Mt @ 5.45% P2O5) operations.
  • The Company holds an extensive land position in the region and 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.