Tenements granted near Três Estradas Project

  • Seven tenements located near the Três Estradas phosphate discovery in the state of Rio Grande do Sul have now been granted.
  • The Três Estradas project represents a significant new phosphate discovery with characteristics similar to existing producing phosphate mines in Brazil. At the time of discovery, the Company applied for 13 look-alike target zones.
  • The Company believes Rio Grande do Sul has the potential to host a major new phosphate province in close proximity to infrastructure, primary agriculture customers and fertiliser blenders.
  • The Company has recently completed a second stage drilling program over the northern portion of Três Estradas with results expected this month and an upgrade of the JORC resource in the 1st quarter of calendar 2013.
  • The Company looks forward to the granting of other licences currently under application, in particular the southern extension to Três Estradas.