Drilling of new Southeast Zone Discovery Extends Strike by 700-Metres at Tres Estradas
- Drilling along the newly discovered southeast zone has proven a strike-extension of at least 700 metres of shallow, additional mineralisation, with thicknesses and grades analogous to the current Três Estrada deposit:
- Hole TED-17-117 returned 42.00 meters grading 4.33% P2O5
- Hole TED-17-112 returned 20.55 meters grading 3.67% P2O5
- Hole TED-17-116 returned 47.73 meters grading 3.60% P2O5
- Drilling of the strike extension to date has not cut off the mineralisation – strike length of NE extension remains open past 700 metres to the northeast
- Infill drill program continues to return better than expected results, confirming the homogeneous nature of mineralisation and continuity laterally and at depth
- Drilling strategy has been to focus on shallow mineralisation to add to current resource base – expected to reduce strip ratio and reduce mining costs
- 13,022 meters of infill drilling has been completed and the program is anticipated to be wrapped up by the end of April
- Infill drilling within the main deposit continues to intercept mineralised zones thicker than anticipated in our original resource model:
- Hole TED-17-110 returned 96.97 meters grading 3.57% P2O5
- Pilot plant flotation test at Eriez is currently underway running fresh carbonatite bulk sample – first commissioning work delivering expected results
Brazilian fertiliser developer Aguia Resources Limited (ASX: AGR) (“Aguia” or “Company” - https://www.commodity-tv.net/c/mid,36622,VRIC_2017/?v=297284 ) is pleased to update shareholders on the ongoing infill drilling program at its flagship Três Estradas Phosphate Project in southern Brazil. The program continues to return positive results that demonstrate the homogeneous and continuous nature of the deposit. Four diamond rigs continue to operate at site. To date a total of 13,022 metres have been drilled, which includes 8,807 metres of diamond drilling and 4,215 metres of reverse circulation drilling.
As announced on 16 February 2017, the Company has identified a new shallow zone of mineralisation along the southeast border of the proposed Três Estradas pit shell. Drilling has proven continuity of this zone for at least 700 metres of strike with the NE extension remaining fully open. Aguia took the decision to cease drilling at the 700 metre strike extension mark to focus on infill drilling.
Infill drilling along this 700 metres of strike continues with the objective of producing a measured and indicated category resource from surface to a depth of 100 metres. The technical team’s strategy has been to target shallow mineralization that will be added to the current resource. It is expected that inclusion will not only improve the overall strip ratio of the proposed operation but will ultimately reduce mining costs. Initial results of this zone indicate that thicknesses and grades are in accordance with the bulk of the deposit as attested by results of hole TED-17-116 returning 47.73 metres of mineralisation grading 3.60% P2O5 and TED-17-117 returning 42.00 metres of mineralisation grading 4.33% P2O5.
Since the announcement of the infill drill program on 23 March 2017, the latest results continue to demonstrate the continuity of mineralisation both laterally and at depth. Modelling of these results has returned intersections that are thicker at depth than anticipated in the previous resource model, e.g. hole TED-17-110 that returned 96.97 metres grading 3.57% P2O5.
The pilot plant test of bulk fresh carbonatite sample is progressing well at the Flotation Division of Eriez in Pennsylvania. Initial results of this program should be available during April.
Technical Director Dr. Fernando Tallarico commented, “The outcome of the drilling along the new southeast zone and within the deposit continues to be very positive. We are not only able to prove continuity of mineralisation along strike and at depth, but we also have been able to define additional shallow resources that should positively impact our mining costs.”
Managing Director Justin Reid added, “The success of our drilling program continues and we have made the decision to infill the new southeast limb. Our resource model is robust and expanding and it is important to convert the new discovery into Measured and Indicated resources in order to be included in our Bankable Feasibility Study. We will return to drilling the strike extension of this zone in the future. Our top priority is to define enough tonnes to drive a very robust mine model.”
“Três Estradas continues to grow in terms of size and value, and together with surrounding projects that we have under option, we are methodically developing a phosphate project of significant scale that will be located in the heart of a Brazilian farming region that currently relies entirely on imported phosphate.”
For further information, please contact:
Justin Reid, Managing Director
E: [email protected]
T: +1 416-216-5446
Catherine Stretch, Chief Commercial Officer
E: [email protected]
T: +1 416-309-2695
Jan-Per Hole, Vice President Corporate Development Australia
E: [email protected]
T: +61 (0) 414 899 732
In Europe:
Swiss Resource Capital AG
Jochen Staiger
[email protected]
www.resource-capital.ch
Released through: Ben Jarvis, Six Degrees Investor Relations: +61 413 150 448
Follow Aguia on Twitter: @ Aguia_Resources
About Aguia:
Aguia Resources Limited, (“Aguia”) is an ASX listed company whose primary focus is on the exploration and development of phosphate projects in Brazil. Aguia has an established and highly experienced in-country team based in Belo Horizonte, Brazil with corporate offices in Sydney, Australia. Aguia’s key projects are located in Rio Grande do Sul, a prime farming area which is 100% dependent on phosphate imports. The Rio Grande phosphate deposits exhibit high quality and low cost production characteristics, and are ideally located with proximity to road, rail, and port infrastructure. Aguia’s experienced management team has a proven track record of advancing high quality mining assets to production in Brazil.
The information in this announcement that relates to Exploration Targets, Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Dr Fernando Tallarico, who is a member of the Association of Professional Geoscientists of Ontario. Dr Tallarico is a full-time employee of the company. Dr Tallarico has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Dr Tallarico consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
Table 1 – Assay Results of the Drilling Campaign
(*Holes identifications initiated with TED are diamond holes and those initiated with TER are reverse circulation holes)
Hole_ID | From (m) | To (m) | Length (m) | P2O5% | CaO% | MgO% | Fe2O3% | SiO2% | Al2O3% |
TED-17-109 | 188.00 | 274.55 | 86.55 | 3.97 | 36.08 | 7.37 | 9.29 | 8.61 | 1.45 |
TED-17-110 | 150.00 | 246.97 | 96.97 | 3.57 | 32.04 | 9.68 | 8.80 | 11.48 | 2.13 |
TED-17-112 | 33.71 | 54.26 | 20.55 | 3.67 | 34.70 | 7.57 | 6.86 | 15.21 | 2.28 |
TED-17-116 | 109.70 | 157.43 | 47.73 | 3.60 | 33.70 | 9.43 | 7.32 | 10.76 | 2.03 |
TED-17-117 | 159.00 | 201.00 | 42.00 | 4.33 | 28.42 | 8.72 | 8.75 | 19.40 | 4.40 |
| Including | 6.00 | 6.27 | 24.63 | 6.78 | 10.15 | 29.80 | 6.38 | |
| Including | 7.00 | 5.13 | 29.89 | 14.54 | 5.91 | 9.99 | 1.15 | |
TER-17-229 | 0.00 | 15.00 | 15.00 | 15.29 | 20.16 | 1.57 | 19.88 | 28.18 | 3.91 |
15.00 | 80.00 | 65.00 | 6.65 | 35.00 | 6.72 | 8.71 | 11.27 | 1.58 | |
Including | 2.00 | 13.47 | 28.05 | 8.75 | 12.35 | 15.10 | 2.23 | ||
Including | 7.00 | 11.17 | 29.68 | 8.59 | 11.95 | 12.61 | 1.57 | ||
| Including | 4.00 | 12.33 | 34.65 | 5.79 | 11.27 | 11.37 | 1.51 | |
TER-17-235 | Not mineralized | ||||||||
TER-17-236 | Not mineralized | ||||||||
TER-17-237 | 18.00 | 47.00 | 29.00 | 3.19 | 16.81 | 7.62 | 14.54 | 31.39 | 6.25 |
Hole_ID | UTM_E | UTM_N | Elevation (m) | Length (m) | Status of coordinate | Datum | Azimuth | Dip |
TED-17-109 | 767072 | 6576920 | 361 | 286.05 | GPS | SAD-69 Z21S | 150.00 | -60.00 |
TED-17-110 | 766900 | 6576718 | 364 | 255.55 | GPS | SAD-69 Z21S | 150.00 | -60.00 |
TED-17-112 | 767598 | 6576910 | 353 | 129.90 | GPS | SAD-69 Z21S | 330.00 | -60.00 |
TED-17-116 | 767481 | 6576790 | 353 | 166.95 | GPS | SAD-69 Z21S | 330.00 | -60.00 |
TED-17-117 | 767250 | 6576612 | 358 | 206.20 | GPS | SAD-69 Z21S | 330.00 | -55.00 |
TER-17-229 | 766853 | 6576521 | 362 | 80.00 | GPS | SAD-69 Z21S | 0.00 | -90.00 |
TER-17-235 | 767217 | 6576768 | 366 | 40.00 | GPS | SAD-69 Z21S | 0.00 | -90.00 |
TER-17-236 | 767242 | 6576725 | 362 | 70.00 | GPS | SAD-69 Z21S | 0.00 | -90.00 |
TER-17-237 | 767209 | 6576864 | 366 | 47.00 | GPS | SAD-69 Z21S | 0.00 | -90.00 |
JORC Code, Table 1
Section 1 Sampling Techniques and Data
(Criteria in this section apply to all succeeding sections.)
Criteria | JORC Code explanation | Commentary |
Sampling techniques |
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Drilling techniques |
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Drill sample recovery |
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Logging |
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Sub-sampling techniques and sample preparation |
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Quality of assay data and laboratory tests |
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Verification of sampling and assaying |
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Location of data points |
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Data spacing and distribution |
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Orientation of data in relation to geological structure |
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Sample security |
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Audits or reviews |
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Section 2 Reporting of Exploration Results
(Criteria listed in the preceding section also apply to this section.)
Criteria | JORC Code explanation | Commentary |
Mineral tenement and land tenure status |
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Permit 810.090/91, irrevocable right to 100% under an exercised option agreement with Companhia Brasiliera de Cobre (CBC). On July 1, 2011, CBC and Aguia Metais Ltda., a subsidiary of Aguia in Brazil, executed an option agreement providing the irrevocable purchase option of these mineral rights by Aguia Metais (or its affiliate or subsidiaries). On May 30, 2012 Aguia Metais exercised the purchase option concerning these mineral rights by means of its affiliate Aguia Fertilizantes S/A (Aguia Fertilizantes). On July 10, 2012, CBC and Aguia Fertilizantes executed an irrevocable agreement providing the assignment of these mineral rights to Aguia Fertilizantes. On July 20, 2012 CBC filed a request before the DNPM applying for the transfer of these mineral rights to Aguia Fertilizantes. The 2nd two-year term expired on August 16, 2012, with the Final Exploration Report now under review by the Government, approval of which will allow the Company a further year (from the date of approval) to submit an Economic Exploitation Plan.
Permit 810.325/12, irrevocable right to 100% under an exercised option agreement with Companhia Brasiliera de Cobre. |
Exploration done by other parties |
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Discoveries of phosphate rich rocks at TE were made by a joint exploration programme between Companhia Brasileiraa do Cobre and Santa Elina in 2007/2008 during a gold exploration programme. This involved an integrated geochemical/ geological/geophysical and drilling programme. The gold results were disappointing, causing Santa Elina to withdraw from the JV, however +6% phosphate values were noted in assaying of soils and drill core. |
Geology |
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The mineralisation is a carbonatite hosted phosphate deposit, with apatite as the phosphate bearing mineral. The NE-SW trending carbonatite is probably Mid-Proterozoic in age, and has been affected by Neo-Proterozoic shearing and metamorphism. It is hosted in the Santa Maria Chico Granulite Complex, within the Taquarembo Domain of the Achaean to Proterozoic Sul-rio-grandense Shield. |
Drill hole Information |
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Data aggregation methods |
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Relationship between mineralisation widths and intercept lengths |
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Diagrams |
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Balanced reporting |
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Other substantive exploration data |
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Further work |
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Section 3 Estimation and Reporting of Mineral Resources
Not applicable to this release – this does not include mineral resource estimations
Section 4: Estimation and Reporting of Ore Reserves
Not applicable to this release
Section 5: Estimation and Reporting of Diamonds and Other Gemstones
Not applicable to this release