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Centrex Metals Ltd defines maiden resource at phosphate rock project

One of the few undeveloped high-grade phosphate rock deposits in the world.
Centrex Metals Ltd defines maiden resource at phosphate rock project
Feasibility studies have commenced for the project

Centrex Metals Ltd (ASX:CXM) has defined a maiden inferred resource of 12 million tonnes at 28.7% phosphorus for its Ardmore Phosphate Rock Project in North West Queensland.

The estimate was completed based on historical drilling from the 1960s through 1980s, and recent on-ground drill collar surveys by Centrex, using a 19% phosphorus cut-off grade.

Ardmore Phosphate Rock Project is one of the few remaining undeveloped high-grade phosphate rock deposits in the world.

The inferred resource has been defined over areas that have been historically drilled at a close spacing.

Further areas from Centrex’s exploration target that were based on wider spaced historical drilling still require additional infill drilling to determine suitability for conversion to mineral resources.

Centrex plans to commence this infill drilling in August.

Centrex intends to complete sufficient drilling to convert the entire deposit to a level required to support a mining feasibility study.

The company plans to develop a phosphate rock export operation at Ardmore to supply the nearby Asian and Australasian markets.

With the bulk of the export market coming from North Africa and the Middle East, Ardmore will have a large freight advantage to these markets.

Ardmore’s high phosphate grade is expected to lead to lower processing costs compared to the majority of producers that require significant beneficiation to reach export grade levels.

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