MARCH 2015 QUARTERLY ACTIVITIES REPORT
Aguia Resources Limited (ASX: AGR) (“Aguia” or “Company”) is pleased to report on its activities for the March 2015 Quarter:
Highlights:
- Total JORC compliant Indicated and Inferred resources increased 130%, from 30 Mt to 70.1 Mt (comprised of 15.2Mt Indicated and 54.0Mt Inferred) with an average grading of 4.20% P2O5
- Higher grade oxide zone from surface more than doubled, with combined Indicated and Inferred resource of 3.9Mt of 10.25% P2O5
- Drill program at Três Estradas South was completed and continued to intersect excellent widths and grades of phosphate mineralisation extending the strike length from 1.3km to 2.5 km
- Positive initial results at the Cerro Preto target, showing great continuity along strike at surface with highgrade intercepts from channel sampling which include
- 55.0 m grading 6.99% P2O5 (CH-AM-28)
- 23.0 m grading 8.61% P2O5
Corporate
- The Company raised $169,902 through a Rights Issue in January and further successfully completed a Shortfall Placement of $845,900 with an additional $790,000 through a follow-on share placement in April
- Justin Reid appointed new Executive Chairman and Managing Director and Catherine Stretch appointed Chief Commercial Officer.
Planned for the June Quarter:
- Completion of additional metallurgical test work at SGS facilities in Lakefield, Canada targeted for May 2015
- Scoping Study/PEA by SRK Consulting for the Três Estradas deposit targeted for release July 2015
- Ongoing assessment and development of phosphate Rio Grande assets at Joca Tavares and Cerro Preto
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