- Total Measured and Indicated resource of 83 million tonnes grading 4.1% P2O5, using a cut-off grade of 3% P2O5 and an additional 21.8 million tonnes grading 3.7% in the inferred category.
- Measured and Indicated resource of oxidized material occurring at surface of 5.3 million tonnes grading 8.8% P2O5, using a cut-off grade of 3% P2O5.
- Measured and Indicated resource of fresh rock located immediately under the oxidized material of 77.9 million tonnes grading 3.8% P2O5, using a cut-off grade of 3% P2O5.
- The Measured and Indicated resources could support five years of production mining oxidized material and an additional 15 years mining fresh rock at a production rate of 300 thousand tonnes per year of phosphate concentrate.
TORONTO, CANADA September 19, 2017 – Brazilian fertilizer developer Aguia Resources Limited (ASX: AGR, TSXV: AGRL) (“Aguia” or the “Company”) is pleased to report to shareholders that the Company has completed the modeling and update of the Três Estradas Phosphate Resource. The entire dataset was subject to independent revision and auditing by Millcreek Mining Group who have signed off on the new resource statement for the project (the “Mineral Resource Statement”). The resource estimate meets the criteria required to be compliant with both JORC and NI 43-101 standards.
The Mineral Resource Statement is based on the results of an extensive drilling campaign carried out by Aguia between December 2016 and June 2017. During this period, Aguia completed 61 core holes (9,708m) and 90 reverse circulation holes (4,496m). The primary goal of this drilling campaign was to increase the geologic assurance and classification of the inferred resources identified in the 2016 resource statement related to the Tres Estradas project. The drilling campaign was successful in converting most Inferred Resources in the 2016 resource estimate to Measured and Indicated categories as well as discovering and delineating additions to the Tres Estradas deposit, including a new extension to the deposit.