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Aguia Resources Ltd. (ASX:AGR) announced the results from the first batch of assays from drilling programs that tested the southern extension to the Três Estradas project, located in Southern Brazil.
Aguia Resources Ltd. (ASX:AGR) announced the results from the first batch of assays from drilling programs that tested the southern extension to the Três Estradas project, located in Southern Brazil.
As quoted in the press release:
Três Estradas South forms the southwest strike extension of the previously announced Três Estradas in pit resource of 30.5 million tons grading 4.3% P2O5, which includes indicated resources of 9.9 million tons grading 5.03% P2O5 and inferred resources of 20.6 million tons grading 3.94% P2O5. Previously announced auger drilling at Três Estradas South has returned several encouraging results, including 10 meters grading 10.6% P2O5, 12 meters grading 9.8% P2O5,7.9 meters grading 12.0% P2O5,all ending in mineralization indicating that the high grade oxide zone extends further to the south-west from the current resource.
Managing Director Prakash Hariharan stated:
These results validate the potential for a high quality, world class phosphate asset in South Brazil to service the growing demand for phosphate nutrients in the farm belts in Brazil. We will continue to explore the region to finish the drill program that commenced in December 2014 to cover Três Estradas South and also include the adjoining properties in Joca Tavares.
Click here for the full Aguia Resources Limited (ASX: AGR) press release