NEW DRILLING RESULTS REVEAL SIGNIFICANT THICKENING

Highlights:

  • Drilling continues to demonstrate homogeneous nature and strong continuity of mineralisation both laterally and at depth
  • At depth some intercepts are returning thicker than anticipated in the previous resource model:

TED-16-090 intercepted 94.20 metres grading 3.96% P2O5 from 160.45 metres

TED-16-089 intercepted 131.35 metres grading 3.28% P2O5 from 118.00 metres

  • Oxidized mineralisation continues to return high-grade material near surface:

TER-16-167 intercepted 20.00 metres grading 6.31% P2O5 from surface including 7.00 metres grading 12.98% P2O5

TER-16-173 intercepted 31.00 metres grading 9.00% P2O5 from surface including 8.00 metres grading 11.12% P2O5 and 5.00 metres grading 11.53% P2

  • Samples of fresh rock have arrived at Eriez and the Pilot Plant Program now underway