Sign up Australia
Proactive Investors - Run By Investors For Investors

Aguia Resources options two phosphate projects in Brazil

Aguia Resources options two phosphate projects in Brazil

Brazil focused Aguia Resources (ASX: AGR) will acquire two phosphate projects located in the state of Rio Grande do Sul in south east Brazil with high grade phosphate reported from early stage exploration at one of them.

Brazil currently imports 49 per cent of its phosphate needs, providing an opportunity for explorers.

In April, Aguia placed 18.3 million new ordinary shares at $0.82 per share to raise a total of $15 million. The funds raised will explore the Atlantic Potash Project in Brazil and further test Aguia’s Brazilian phosphate projects.

The Atlantic Potash project is located adjacent to Brazil’s only producing potash mine, Vale’s (NYSE:VALE) Taquari-Vassouras underground mine.

Today, Aguia has reported it has an exclusive option to acquire 100% of the Tres Estradas (“TE”) and Joca Tavares (“JT”) carbonatite style phosphate  projects from Companhia Brasileira do Cobre (“CBC”).

The company believes the projects; while at early stages have similarities to the carbonatite style hosted phosphate deposits mined by Vale within Brazil including the Araxa (Reserve: 88.7 Mt @ 11.12% P2O5) and Cajati (Reserve: 85.1 Mt @ 5.45% P2O5) operations.

Interestingly, early surface rock chip sampling at JT has returned high grade phosphate mineralisation including 31.70%, 25.80% and 22.90% P2O5 at TE and  11.40% P2O5.

At TE, three historical diamond drill holes intersected carbonatite host rocks and returned wide zones of low grade phosphate mineralisation within the primary zone.

The top 15 metres of each hole was not sampled and potential exists for higher grade shallow oxidised zones as indicated by grab surface rock samples.

The TE project has a drill ready target zone extending for over one kilometre with thicknesses up to 100 metres.

Both projects in Brazil are located near infrastructure including roads, water, power and potential domestic primary customers and major fertiliser blenders.

View full AGR profile View Profile

Aguia Resources Timeline

Newswire
October 17 2016

Related Articles

1527253264_Kavango.jpg
May 29 2018
Kavango Resources is going big game hunting in Southern Botswana
rare earths
January 18 2018
The first ever drilling campaign at Gakara is about to get underway
site map
Tue
West Musgrave Project is the largest undeveloped nickel-copper project in Australia.

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use