FURTHER SIGNIFICANT PHOSPHATE INTERSECTIONS FROM SURFACE AT JOCA TAVARES PROJECT IN SOUTHERN BRAZIL

Transcription

1 ASX RELEASE ASX: AGR 5 th August 2013 FURTHER SIGNIFICANT PHOSPHATE INTERSECTIONS FROM SURFACE AT JOCA TAVARES PROJECT IN SOUTHERN BRAZIL Summary Previusly reprted auger assay results f up t 14.7m grading 10.8% P 2 O 5 are nw supprted by further auger hle results that include: 9.0 metres grading 11.5% P 2 O 5 frm surface (hle ended in mineralisatin) 3.8 metres grading 13.7% P 2 O 5 frm surface (hle ended in mineralisatin) 3.5 metres grading 12.1% P 2 O 5 frm surface (hle ended in mineralisatin) 2.0 metres grading 12.8% P 2 O 5 frm surface (hle ended in mineralisatin) Jca Tavares is lcated 41 kilmetres east-suth-east frm Aguia s Três Estradas prject. The prjects shw similarities t the carbnatite hsted phsphate depsits mined by Vale within Brazil, including the Cajati (Reserve: 85.1 Mt grading 5.45% P 2 O 5 ) peratins. The Cmpany hlds an extensive land psitin in the regin and believes Ri Grande d Sul has the ptential t hst a majr new phsphate prvince in clse prximity t infrastructure, primary agriculture custmers and fertiliser blenders. Aguia Resurces Limited (ASX: AGR) ( Aguia r Cmpany ) is pleased t annunce that the Cmpany has received further excellent results frm the Jca Tavares prject lcated in the state f Ri Grande d Sul in suthern Brazil. The Cmpany has cmpleted detailed prgrams f mapping, rck, sil and auger sampling t delineate the dimensins f the Jca Tavares carbnatite fr fllw up prgrams f drill testing. T date 41 shallw auger drill hles have been cmpleted. Assays frm the first 26 hles have nw been received, with 15 f these returning significant intersectins f phsphate mineralisatin frm surface at similar grades t the recent discvery at Três Estradas (Figure 1, Table 2). Jca Tavares has nt been previusly drill tested and these early results indicate phsphate bearing carbnatite hst rck is present ver an extensive area. All the hles were drilled t refusal and mineralisatin is pen at depth. Aguia s Managing Directr, Simn Taylr, said We are extremely pleased with the nging shallw auger results frm Jca Tavares that have nw delineated an extensive zne f phsphate mineralisatin frm surface ver a wide area. The results are very similar t the initial test wrk cmpleted at Três Estradas where fllw up drilling cnfirmed a JORC cmpliant phsphate resurce. With this secnd discvery we believe the prjects lcated in Ri Grande d Sul have the ptential t frm a slid basis fr future prject develpment pprtunities including a ptential early start up and cash flw frm the easily accessible shallw xide material that extends frm surface.

2 Figure 1: Jca Tavares - Grund magnetic image, interpreted utline f carbnatite, sil and rck chip assay results and area f drilling as shwn in Figure 1 Figure 2: Jca Tavares Lcatin and status f auger drilling and interpreted carbnatite n grund magnetics image Page 2 f 5

3 Bth the Três Estradas and Jca Tavares prjects represent significant new phsphate discveries with characteristics similar t existing prducers in Brazil. Imprtantly, the grade and mineralgy is similar t that f ther perating mines glbally including Yara s Siilinjärvi mine in Finland and Vale s Cajati mine in Brazil, bth f which prduce a high quality cncentrate frm phsphate within carbnatite hst rcks. Table 1: Cmparative Phsphate (P 2O 5) Depsits Within Carbnitite Hsted Rcks 1 Name f Depsit Lcatin Tnnage (Mt) Head Grade Recvery Cncentratin Grade Stage Siilinjärvi (Yara) Finland % 84% 35% Prductin Cajati (Vale) Brazil % 78% 36% Prductin Três Estradas (Aguia) Brazil % 65-83% 31-36% 3 Explratin / Develpment Ntes 1. JSA Cnsultria e Assessria Técnica, Cmpany data 2. JORC-cmpliant resurce calculated frm 40% f ptential target length and t 100 metres depth. This includes 4.96% P 2O 5 indicated and 3.88% P 2O 5 inferred resurces. 3. Based n preliminary beneficiatin test wrk, ptimisatin test wrk underway Figure 3: Lcatin f Ri Grande Phsphate Prjects and Vale Cajati Phsphate Mine, SE Brazil The three suthern States f Ri Grande d Sul, Santa Catarina and Paraná currently cnsume ver 1 millin tnnes P 2 O 5 1 r almst 30% f Brazilian cnsumptin, hwever there are currently n prducing phsphate mines in the regin. The Três Estradas, Jca Tavares and ther Aguia prjects will be lgistically advantaged t supply the regin cmpared with phsphate mined in Minas Gerais and Gias and imprts. Fr further infrmatin, please cntact: Simn Taylr Managing Directr T E staylr@aguiaresurces.cm.au ENDS Abut Aguia Aguia is an emerging fertiliser develpment cmpany fcusing n phsphate and ptash prjects in Brazil. Brazil is Latin America s biggest ecnmy and is heavily reliant n imprts f up t 50 per cent f its phsphate and 90 per cent f its ptash needs. Aguia is well psitined t capitalise n the grwing demand fr phsphrus and ptash based fertilisers in the expanding agriculture sectr in Brazil and cntrls fur large prjects, lcated clse t existing infrastructure. The Cmpany is cmmitted t its existing prjects whilst cntinuing t pursue ther pprtunities within the fertiliser sectr. 1 = Data Surce: ANDA, 2011 cnsumptin data. Page 3 f 5

4 Table 2: Jca Tavares Auger Assay Results HOLE_ID UTM_E UTM_N RL Lithlgy DEPTH FROM TO WIDTH GRADE (P 2O 5%) JTT Metasiltstne 4.50 Nt Mineralised JTT Carbnatite Includes JTT Carbnatite Includes Includes JTT Carbnatite Includes JTT Carbnatite JTT Carbnatite JTT Metasiltstne/ Carbnatite JTT Breccia 3.50 Nt Mineralised JTT JTT JTT Metasiltstne w/ carb sil Metasiltstne w/ carb sil Metasiltstne w/ carb sil JTT Carbnatite JTT Breccia 2.60 Nt Mineralised JTT Metasiltstne 3.20 Nt Mineralised JTT Metasiltstne 4.00 Nt Mineralised JTT Carbnatite JTT Carbnatite JTT Carbnatite JTT Metasiltstne 6.00 Nt Mineralised JTT Breccia 4.00 Nt Mineralised JTT Metasiltstne 5.00 Nt Mineralised JTT Carbnatite/ breccia JTT Breccia 4.60 Nt Mineralised JTT Metasiltstne 3.00 Nt Mineralised JTT Metasiltstne 8.00 Nt Mineralised JTT Carbnatite All hles are vertical, and drilled with a pwered hand-held auger t refusal. Hles are sampled at 1m intervals, with bttm samples shrter where the hle depth is nt a full metre value. Samples are assayed by lithium tetrabrate fusin XRF using methd XRF79C_10 at SGS labratries. Intersectins are calculated using length-weighted assay values generally at 3% and 10% dwnhle cutffs. Results frm hles JTT t JTT previusly released t the market n June 21, Page 4 f 5

5 Figure 4: Ggle images at the same scale shwing Vale s Cajati Phsphate Mine and Infrastructure (tp) and Aguia s Jca Tavares carbnatite phsphate discvery (belw) JORC Cde Cmpetent Persn Statements The Três Estradas Phsphate Prject has a current JORC cmpliant inferred mineral resurce f 4.25% P 2O 5 (ttal initial cntained phsphate f 1.21Mt P 2O 5).This includes 4.96% P 2O 5 indicated resurces and 3.88% P 2O 5 inferred resurces. This was released t the market n February 28, The infrmatin in this reprt that relates t Explratin Results, Mineral Resurces r Ore Reserves is based n infrmatin cmpiled by Dr Fernand Tallaric, wh is a member f the Assciatin f Prfessinal Gescientists f Ontari. Dr Tallaric is a full-time emplyee f Aguia Resurces Limited. Dr Tallaric has sufficient experience which is relevant t the style f mineralisatin and type f depsit under cnsideratin and t the activity which he is undertaking t qualify as a Cmpetent Persn as defined in the 2004 Editin f the Australasian Cde fr Reprting f Explratin Results, Mineral Resurces and Ore Reserves ( JORC Cde ). Dr Tallaric cnsents t the inclusin in this reprt f the matters based n his infrmatin in the frm and cntext in which it appears. Page 5 f 5