INFILL DRILLING PROGRAM AT TRÊS ESTRADAS CONTINUES TO RETURN HIGHLY ENCOURAGING RESULTS

Highlights:

  • Drilling continues to demonstrate homogeneous nature and continuity of mineralisation both laterally and at depth
  • Infill drill campaign extended to 14,000 metres – final 1,300 metres to be completed by the end of April
  • At depth many intercepts are thicker than anticipated in the previous resource model

TED-16-091 intercepted 90.10 metres grading 3.49% P2O5 from 150.00 metres

TED-16-094 intercepted 61.84 metres grading 4.30% P2O5 from 218.00 metres

TED-16-098 intercepted 26.73 metres grading 3.95% P2O5 from 86.00 metres

TED-16-104 intercepted 64.40 metres grading 4.27% P2O5 from 237.00 metres

  • High-grade, near surface oxidised mineralisation continues to be discovered:

TER-17-202 intercepted 30.00 metres grading 13.67% P2O5 from surface, including 8.00 metres grading 18.85% P2O5

TER-17-203 intercepted 24.00 metres grading 16.02% P2O5 from surface, including 10.00 metres grading 20.03% P2O5

  • First results from pilot plant work with Eriez expected shortly
  • Trade Off study for the Bankable Feasibility nearing completion
  • BFS progressing well, trade-off study and expanded drilling expected to drive value proposition further