| Announcement Date: | 2022-03-15 |
|---|---|
| Announcement Type: | Deposit Estimation |
| Announcement Code: | JORC |
| Company name: | PhosCo Ltd. |
| Project name: | Chaketma |
| Location: | Tunisia |
| Commodities: | Phosphate |
| Highlight: | Updated Resource Estimate for Project |
| Resources: | only available to subscribers |
| CP/QP: | only available to subscribers |
| Announcement summary: | PhosCo Ltd (‘PhosCo or the ‘Company’) (ASX:PHO) is pleased to announce a significant increase in tonnage and confidence of its Mineral Resources Estimate (MRE) at the KEL (Kef El Louz) prospect at the Chaketma Phosphate Project (Chaketma or the Project) in Tunisia. KEL is one of two zones of phosphate mineralisation at Chaketma, the second is the larger (on the basis of current Resources) GK deposit. A Resource update is in preparation for GK. Independent consultancy Arethuse Geology has estimated a Measured and Indicated Mineral Resources for KEL of 55.5 million tonnes of rock at a grade of 21.2% P2O5 as per JORC (2012) guidelines, above a cut-off of 10% P2O5. This is a significant increase from the previous KEL MRE of 37Mt @ 21% P2O5 (Inferred) (published on the 9th November 2012, as estimated by independent consultancy Geos Mining). This provides a resource base sufficient for the initial 30 years of the mining plan as proposed in the Scoping Study announced 14 August 2012 (Scoping Study). The new MRE represents an increase of 18.5Mt or 50% on the previous maiden MRE. The KEL MRE has been estimated with a materially greater quantity and density of drilling data than the previous (2012) estimate (2012: 37 holes totalling 2,889 metres / 2022: 117 holes totalling 9,128 metres). The additional drilling is largely in-fill and the 31 holes outside the maiden |
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