Aguia Resources (ASX:AGR) announced its second stage drill program at the Três Estradas phosphate project in southern Brazil. The project represents a significant new phosphate discovery.
As quoted in the press release:
- The second stage drilling program at Três Estradas (“TE”) is progressing well with two diamond drill rigs and a reverse circulation rig now on site
- The diamond drilling program is aimed at expanding the initial JORC compliant inferred resource through additional drilling below 100 metres
- Eight diamond drill holes of the planned 21 diamond drill holes have now been completed with all holes successfully intersecting the targeted phosphate bearing zone
- A reverse circulation rig will further test the higher grade oxide zone that extends from surface with 50 x 20 metre holes planned
- The Company expects initial drilling results to be available from late September