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Phosphate Australia, Anglo American intersect extensive copper at Musgrave, WA

Last updated: 16:00 28 Oct 2013 AEDT, First published: 15:00 28 Oct 2013 AEDT

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Phosphate Australia (ASX:POZ) and Anglo American have intersected extensive low grade copper mineralisation at the Manchego Prospect in the Musgrave region of Western Australia and are poised to start the Phase 2 program.

Phase 1 drilling results include 24 metres at 0.27% copper from 66 metres including 5 metres at 0.54% copper, 0.11% nickel and 0.28ppm platinum group metals as well as 43 metres at 0.18% copper from 98 metres including 4 metres at 0.53% copper, 0.34% nickel and 0.37ppm PGM.

Significant amounts of visible sulphides were observed whilst logging the reverse circulation drill chips.

The widespread nature of the mineralisation is encouraging with the company noting that mineralisation appeared to increase in grade and thickness with depth.

Phase 2 drilling will consist of about five holes totalling 1,000 metres. This will include deepening Phase 1 holes as well as step out drilling to test the west, southwest and southern extents of the Phase 1 drilling.

Anglo American is carrying out ground electromagnetic survey to target areas of potentially deeper mineralisation noted in Phase 1 drilling as well as downhole electromagnetic on the Phase 1 drill holes.

POZ has a farm-in agreement with Anglo American Exploration Australia covering an area of 619 square kilometres in the Musgraves, including the Manchego prospect.

 

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