- Aguia Resources is focused on being the sole source of domestic phosphate supply to the fertilizer market in southern Brazil
- JORC compliant resource (0.745Mt Measured Mineral Resources @ 4.42% P2O5, 15.07Mt Indicated Mineral Resources with an average grade of 4.75% P2O5 using a minimum cut-off of 3.0% P2O5 and 58.89Mt Inferred Mineral Resources) with an average grade of 5.74% P2O5 (1)
- Phase 2 drilling complete and Phase 3 expansion drilling underway
- Ideal location with proximity to local infrastructure (roads, rail, power, port) in a major farming region that imports 100% of it’s phosrock
- Team in place to take Três Estradas through to production
- Bankable Feasibility underway with a focus on further optimization of the mineral resources
- EIA submitted for review by FEPAM Oct 2016
(1) See Technical Report, Três Estradas Phosphate Project, Rio Grande do Sul, Brazil, Preliminary Economic Assessment dated June 24, 2016.
Aguia’s Três Estradas project is located in the state of Rio Grande do Sul. Southern Brazil in a major farming region which currently imports 100% of its phosrock requirements. There are currently no phosphate mines in the region and none scheduled to be built in the foreseeable future other than Aguia’s planned development of Três Estradas. Aguia’s landholding in Rio Grande do Sul currently totals about 78,150 hectares. Três Estradas is the most advanced of Aguia’s holdings in the region which also includes the carbonatite-hosted Joca Tavares with adjacent targets being explored.
Since 2011 Aguia has been advancing exploration and development of Três Estradas, including geological mapping, soil and rock sampling, ground mag surveys, auger, diamond and reverse circulation drilling.
The Três Estradas Audited Mineral Resource identifies 15.82 million tonnes of measured and indicated material with an average grade of 4.73% P2O5 and 33.41% CaO (59.64% calcite equivalent) using a minimum cut-off of 3.0% of P2O5. The estimate also identifies 58.89 million tonnes of inferred material with an average grade of 3.97% P2O5 and 33.78% CaO (60.3% calcite equivalent). By classification, 21.2% of the resources contained within the optimized pit shell are measured and indicated with the remaining 78.8% of the resource classified as inferred resource.
The estimated in-situ resource for Joca Tavares identifies 2.5 million tonnes of material with an average grade of 4.11% P2O5 using a minimum cut-off of 3.0% P2O5. The in-situ estimate also identifies 0.36 million tones of inferred resource with an average grade of 5.42% P2O5. By classification, 87.6% of the in-situ resources identified in the model are measured and indicated, with 12.4% of the in-situ resources being identified as inferred .
The phosphate recoveries defined at Eriez Flotation Division of 84% for fresh carbonatite and 80% for oxide using column flotation, together with a high quality by-product calcite. Test work shows oxide mineralization can be processed in the same column as fresh rock so only one column is required which may reduce CAPEX and increase operating efficiencies.
Metallurgical studies also confirm the presence of a high quality calcite by-product which may have the potential to add a secondary revenue stream to the Três Estradas deposit in the event production is achieved in the future. From the rougher tailing of the phosphate flotation, a calcite concentrate grading 48.55% CaO was produced with a CaO recovery of 83.1%. Due to a high reactivity, the calcite is suitable as a high quality aglime to be spread on fields to reduce acidity and meets the specifications of the cement industry, animal nutrition market and to neutralize sulphur in thermoelectric plants.
The Três Estradas project contemplates an open-pit, truck and shovel operation, mining both the Três Estradas and Joca Tavares deposits over a life of mine of 14 years. The processing plant will include a primary crusher, SAG mill and a sequence of rougher-cleaner-cleaner-scavenger column flotation to produce a 30 to 31% P2O5 concentrate. The tailings of the phosphate rougher flotation will then be subject to magnetic separation and mica flotation to produce a high-quality calcite concentrate. Please see the Technical Report, Três Estradas Phosphate Project, Rio Grande do Sul, Brazil, Preliminary Economic Assessment dated effective June 24, 2016 for further detail. Note that the Preliminary Economic Assessment is preliminary in nature and includes infered mineral resources. Inferred mineral resources are considered to be speculative geologically and have technical and economic considerations applied to them that would enable them to be categorized as mineral reserves. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Accordingly there can be no certainty that the results of the Preliminary Economic Assessment will be realized.
Três Estradas is located in a predominantly farming region with proximity to local infrastructure including roads, a rail line through the property and power. Major fertilizer blenders are located just 200km away at Porto Alegre.