Summary
- Total JORC compliant Indicated and Inferred resource increased to 28.5Mt grading 4.3% P2O5 including a higher grade oxide zone from surface of 1.6Mt @ 10.5% P2O5
- 78% of the higher grade oxide resource has been upgraded from the Inferred to Indicated category
- Beneficiation test work demonstrates the potential for the oxide and primary zones to produce a commercial concentrate with grades up to 36% and 32% P2O5 respectively supporting future project development opportunities including early start up
- Overall grade and preliminary metallurgical results are similar to carbonatite hosted open-cut operating mines in Brazil and globally that are presently mined to depths of 220 metres (Siilinjärvi, Finland) and 375 metres (Cajati, Brazil)
- The Mineral Resource estimate only covers 45% or 1.2km of the more than 2.6 km of mineralised strike at Três Estradas
- The Company holds an extensive land position in the region and 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
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