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Additional Information
Market:ASX
Sector:General Mining
EPIC:POZ
Latest Price: 0.06  (1.67% Ascending)
52-week High:0.20
52-week Low:0.05
Market Cap:6.70M
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Phosphate Australia Full Phosphate Australia profile here

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.

Phosphate Australia shares rise on iron zone find at Nicholson Project

Wednesday, June 09, 2010
Phosphate Australia shares rise on iron zone find at Nicholson Project

Phosphate Australia (ASX: POZ) has reported new assay results have confirmed a prospective and potentially large iron ore project at its wholly-owned Nicholson Iron Project in the Northern Territory.

The company's tenements are considered under explored for iron ore and have considerable potential to convert known iron occurrences into commercial tonnages and grades.

The new discoveries of multiple discrete areas of iron mineralisation extend more than 60 km and within a 1,400 km2 prospective area with iron grades up to 51.6% Fe with 0.078% P (phosphorus) content.

Iron mineralisation is of the oolitic iron ore style, analogous to the nearby Constance Range iron ore province.

Jim Richards, chairman, said this iron project could complement the nearby Highland Plains phosphate project in that large-scale logistics solutions for one project could may assist the other.

The results are from a recent heli-borne sampling program on tenement EL 25068, which is 230 km from the Gulf of Carpentaria and also contains the company’s advanced Highland Plains Rock Phosphate Project.

The company said grades are encouraging as they "confirm the potential for what could be a large iron ore project with 21 prospective areas (labelled A to U) defined from the helicopter and 15 areas directly sampled and mapped."
 
There are already a number of iron occurrences defined in this initial sampling program from only a small portion of the total potential mineralised area.

A full data review is currently being conducted by the company which includes more detailed remote sensing options, prospectivity analysis, beneficiation options and fieldwork follow up with a view to future drilling.

The company has submitted applications to the Aboriginal Areas Protection Authority for clearances to facilitate drilling activities.

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