Aguia Resources Limited (ASX: AGR) has increased the JORC Mineral Resource estimate at its flagship Três Estradas Phosphate Project located in southern Brazil (Figure 1).

Figure 1. Location of Três Estradas Phosphate Project

The audited Mineral Resource now currently stands at 70.1Mt (comprising 54.9Mt Inferred Resource and 15.2Mt Indicated Resource) at an average grade of 4.2% P₂O₅ which represents a 130% increase compared to the previous estimate.

The mineral resources are reported within a conceptual pit shell at a cut-off grade of 3% P₂O₅.

The strike length of the Três Estradas Phosphate Project has increased considerably following completion of reverse circulation (1,153 metres) and diamond core (3,273 metres) drilling programs completed in February 2015. An additional 1.3km of strike length of the deposit was discovered resulting in a total strike length of 2.5km of mineralisation.

The Três Estradas Phosphate Project now moves to a development phase with the focus of work moving to beneficiation test work and completion of a Scoping Study/ Preliminary Economic Assessment. Both work programs are well underwell.

For further information, visit www.aguiaresources.com.au

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