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Phosphate Australia www.phosphateaustralia.com.au/

Phosphate Australia (ASX: POZ) is targeting the production and sale of 500,000 to 1 million tonnes per annum of premium grade rock phosphate with low contaminants into the Asian market.

Highland Plains, the company's leading phasphate project in the Northern Territory, has an Inferred Resource of 56 million tonnes at 16% P2O5.

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Phosphate Australia intersects 28m at 6.7g/t gold in maiden drilling at Tukanarra

Phosphate Australia (ASX: POZ) has intersected high grade gold in phase 1 drilling of the Cable West vein at the Tuckanarra gold project located in the prolific Western Australian Murchison goldfield.

Strong intersections include 28 metres at 6.7 grams per tonne (g/t) gold from 25 metres from the Cable West vein – a high grade structure and now the highest priority target.

Importantly, directly above this drill intersection was a 9 metre cavity which was mined out by underground miners in the 1900s. The reported historic mined grade at Cable was 22g/t from this period.

Recent results, including 20 metres at 2.1g/t from 70 metres, at the Cable East vein indicate a continuous, well mineralised structure up to 13 metres true width with a current strike length of about 350 metres which is open to the south and at depth.

The Tuckanarra gold project has a historic production of 125,000 ounces and was last mined in 1993 when the gold price was around US$330 an ounce.

The maiden phase 1 reverse circulation comprised 16 holes for 1,635 metres targeting shallow, steeply dipping, mineralised structures around the old Cable pit.

There is also a substantial area of shallow, sub horizontal, laterite hosted mineralisation that covers most of the lode gold target area.

This laterite mineralisation was the target of a phase 2 aircore drilling campaign, comprising 213 holes for 5,062 metres, completed early in February. Assays from this program are due in March.

Phosphate Australia is now planning a phase 3 drilling program for April.

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