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Aguia declares maiden resource in Brazil

8th April 2013

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – Phosphate hopeful Aguia Resources has declared an initial Joint Ore Reserves Committee- (Jorc-) compliant resource of 55-million tons, grading 6.42% phosphate at its Lucena project, in Brazil.

The Lucena project covers some 73 361 ha of allocated land, and Aguia said on Monday that the resource estimate had been derived from 40 core holes. The company added that the mineral resource only covered a small portion of the project area, with room to expand into adjacent tenements still under application.

“This is another milestone for the company with Jorc-compliant resource now achieved at both the Lucena and Tres Estradas phosphate projects in the last three months, in a jurisdiction that is heavily reliant on imports of phosphate rock and phosphate-based fertilisers,” said Aguia MD Simon Taylor.

He noted that the property hosted excellent infrastructure, including roads, water and energy, and was located near fertiliser blenders and transportation hubs, including the Cabedelo port facilities, which could be accessed through 65 km of paved roads.

Taylor said on Monday that the company would continue to focus its efforts on commercializing its phosphate projects through resource expansion, internal scoping and beneficiation testwork.

Edited by Creamer Media Reporter

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