In August 2021 Finfeed changed from a website that covered ASX listed news to a website
that covered a select range of ASX
listed small cap Biotech stocks that we are personally invested in: find out more.
The old Finfeed website, and all of the old articles are kept here for record keeping purposes.VISIT NEW SITE
Tres Estradas infill drilling program 70% complete and delivering thicker intercepts
2 minute read
In an update to shareholders, Brazilian fertiliser developer Aguia Resources (ASX:AGR) has announced positive results regarding the current infill drilling program at its flagship Tres Estradas Phosphate Project.
The project, located in southern Brazil, is in line with predictions, and results to date support the company’s expectations of a phosphate homogenous deposit. Four diamond rigs and a reverse circulation rig are being used for the drilling, with approximately 70% of the planned 9,500 meters now completed.
The drilling program has returned grades and thickness at the same level as Aguia predicted in its model, thus allowing the company to convert Inferred Resources to Measured and Indicated categories – a critical step towards achieving a Bank Feasibility Study.
Importantly, some intercepts have shown thicker mineralisation than Inferred estimates. Highlights of the results so far include hole TED-16-086 which intercepted 72 meters of carbonatite – 22 metres more than predicted – and 72.65 meters averaging 3.91% P2O5 from 93.25 meters, and 10 metres grading 5.03% P2O5. Another hole, TER-16-156, returned 8 meters averaging 9.36% P2O5 from 1 meter.
It should be noted that this is still an early stage play and any consideration of this stock for your portfolio should be undertaken via professional financial advice.
The assay results for Tres Estrada are summarised in the below table:
A selection of completed drill holes from the program will be used to generate samples for the company’s upcoming Pilot Plant test. The sampling of the composites for the Test have now been finalised and sent to Eriez Flotation Division in Pennsylvania.
The below map shows where the infill drilling at Tres Estradas is taking place:
Of the latest update, Technical Director Fernando Tallarico said, “The infill drilling program has advanced incredibly well and is on schedule with two thirds now complete. The uniformity of grades and thicknesses again confirm and in some cases improve upon our previous geological model.
“With samples now on their way to Eriez we will very shortly start another crucial stage of the BFS program, which will be the Pilot Plant testing of our phosphate ore.”