IRW-News: Aguia Resources Limited: Aguia Resources Limited: Bohrungen in südöstlicher Zone bei Três Estradas liefern weiterhin eindrucksvolle Ergebnisse

IRW-PRESS: Aguia Resources Limited: Aguia Resources Limited: Bohrungen in südöstlicher Zone bei Três Estradas liefern weiterhin eindrucksvolle Ergebnisse

Bohrungen in südöstlicher Zone bei Três Estradas liefern weiterhin eindrucksvolle Ergebnisse

Höhepunkte:

- Bohrungen entlang der kürzlich entdeckten südöstlichen Zone mit Streichenlänge von mindestens 700 m sorgen weiterhin für Entdeckungen von Mineralisierung mit Mächtigkeiten und Gehalten, die jenen der aktuellen Lagerstätte Três Estradas entsprechen:

o Bohrloch TED-17-121 ergab 28,60 m mit 3,53 % P2O5

o Bohrloch TED-17-124 ergab 54,00 m mit 3,70 % P2O5

o Bohrloch TED-17-126 ergab 40,05 m mit 3,08 % P2O5

o Bohrloch TED-17-127 ergab 28,55 m mit 3,87 % P2O5

- Die Streichenlänge der nordöstlichen Erweiterung ist weiterhin über 700 m offen und das Unternehmen wird mit oberflächennahen RC-Bohrungen beginnen, um diese potenzielle Erweiterung hinsichtlich weiterer oxidierter Mineralisierungen zu erproben

- Ergänzungsbohrungen bei Lagerstätte Três Estradas liefern weiterhin hervorragende Ergebnisse, die die Homogenität der Mineralisierung sowie die Beständigkeit an der Seite und in der Tiefe bestätigen:

o Bohrloch TED-17-111 ergab 45,70 m mit 4,51 % P2O5

o Bohrloch TED-17-114 ergab 79,00 m mit 3,23 % P2O5

- 13.710 m an Ergänzungsbohrungen (Infill-Bohrungen) abgeschlossen - Programm soll bis Ende des Monats finalisiert werden

- Pilotanlagen-Flotationstest von oxidierter Karbonatit-Großprobe zurzeit bei Eriez im Gange

- Geplante Notierung an TSX-V geht gut voran

Der brasilianische Düngemittelentwickler Aguia Resources Limited (ASX: AGR) (Aguia oder das Unternehmen - http://www.commodity-tv.net/c/search_adv/?v=297517) freut sich, seinen Aktionären ein Update des laufenden Ergänzungsbohrprogramms bei seinem Vorzeige-Phosphatprojekt Três Estradas im Süden von Brasilien bereitzustellen. Das Programm liefert weiterhin positive Ergebnisse, die die Homogenität und Beständigkeit der Lagerstätte nachweisen. Ein Diamant- und ein RC-Bohrgerät sind weiterhin am Standort im Einsatz.

Bis dato wurden insgesamt 13.710 Meter gebohrt, einschließlich 9.495 Meter an Diamantbohrungen und 4.215 Meter an RC-Bohrungen. Das jüngste Bohrprogramm, das Ende 2016 begonnen hat, ist ein größeres Vorhaben und macht etwa 50 Prozent der Diamant- und RC-Bohrungen auf insgesamt 27.800 Metern aus, die seit 2011 im Konzessionsgebiet durchgeführt wurden.

Wie bereits am 16. Februar 2017 gemeldet, identifizierte das Unternehmen eine neue oberflächennahe Mineralisierungszone entlang der Südostgrenze des geplanten Grubenmantels von Três Estradas. Durch die Bohrungen wurde in dieser Zone eine Beständigkeit auf einem Streichen von mindestens 700 Metern nachgewiesen, wobei die nordöstliche Erweiterung weiterhin vollständig offen ist. Die geologische Modellierung der Ergebnisse entlang dieser Zone weist darauf hin, dass die gefaltete Struktur in Richtung Südwesten abfällt, weshalb die nach wie vor offene nordöstliche Erweiterung die Oberfläche erreichen sollte und möglicherweise hochgradiges oxidiertes Material beherbergt. Die nordöstliche Erweiterung wird im Rahmen zusätzlicher RC-Bohrungen auf 500 Metern erprobt werden, die potenziell oxidiertes Material in Oberflächennähe anpeilen werden.

Die Ergänzungsbohrungen entlang dieses 700-Meter-Streichens werden fortgesetzt, um von der Oberfläche bis in eine Tiefe von nur 100 Metern eine Ressource der gemessenen (Measured) und angezeigten (Indicated) Kategorie zu produzieren. Die Strategie des technischen Teams bestand darin, eine oberflächennahe Mineralisierung anzupeilen, die zur aktuellen Ressource hinzugefügt wird. Es ist davon auszugehen, dass die Integration nicht nur das allgemeine Abraumverhältnis des geplanten Betriebs verbessern, sondern schließlich auch die Abbaukosten senken wird. Die Ergebnisse dieser Zone weisen darauf hin, dass die Mächtigkeiten und die Gehalte mit jenen des Großteils der Lagerstätte übereinstimmen, was durch die Ergebnisse der Bohrlöcher TED-17-124, das 3,70 Prozent P2O5 auf 54,00 Metern ergab, und TED-17-126, das 3,08 Prozent P2O5 auf 40,05 Metern ergab, nachgewiesen wurde.

Der Pilotanlagentest der frischen Karbonatit-Großprobe in der Flotation Division von Eriez in Pennsylvania ist abgeschlossen. Die Analyseergebnisse des frischen Karbonatits sind noch ausständig und werden veröffentlicht, sobald sie verfügbar sind. Nun, da die Erprobung des frischen Karbonatits abgeschlossen ist, werden in der Pilotanlage nun Großproben des oxidierten Karbonatits erprobt.

Das Unternehmen hat kürzlich Nano, ein Kommunikationsunternehmen aus Porto Alegre, damit beauftragt, die Informationen und Kommunikation hinsichtlich unserer Erschließungsarbeiten mit den Gemeinden Três Estradas und Lavras do Sul sowie mit den staatlichen Behörden in Porto Alegre und allen Interessensvertretern des Projektes zu unterstützen. Kürzlich wurden mehrere Veranstaltungen hinsichtlich des Gemeinschaftsbewusstseins abgehalten, einschließlich Workshops mit der Gemeinde und Präsentationen des Projektes für ein zahlreiches lokales Publikum.

Technical Director Dr. Fernando Tallarico sagte: Die Bohrergebnisse entlang der neuen südöstlichen Zone und innerhalb der Lagerstätte sind äußerst konsistent und verdeutlichen die kontinuierliche und homogene Beschaffenheit der Lagerstätte Três Estradas. Wir sind zuversichtlich, dass die Möglichkeit besteht, zusätzliches oxidiertes Material entlang der nordöstlichen Erweiterung dieser kürzlich entdeckten neuen Zone zu finden.

Managing Director Justin Reid fügte hinzu: Unser technischer Erfolg bei Três Estradas treibt den Wert des Projektes mit jedem Meter, den wir bohren, weiter nach oben. Die Konsistenz des Erzkörpers ermöglicht ein einfaches Minenmodell für die bankfähige Machbarkeitsstudie und unsere neue Erweiterung bietet die Möglichkeit für eine beträchtliche Steigerung des oberflächennahen, zugänglichen Erzes, das unsere Abbaukosten weiter senken wird.

Ich bin kürzlich vom Standort zurückgekehrt, wo ich mich mit unserem langfristigen Kommunikationsplan mit der Gemeinde und der Region von NANO vertraut gemacht habe, das einen ganzheitlichen Kommunikationsansatz entworfen hat, um die unglaubliche Arbeit fortzusetzen, die das Team bis dato geleistet hat. Unser Team wurde beim Treffen mit dem Bürgermeister von Lavras do Sul, der unsere Arbeiten weiterhin unterstützt und eng mit uns zusammenarbeitet, um unseren Beitrag für alle lokalen Interessensvertreter unseres Projektes zu steigern, herzlich empfangen. Wir sehen uns bereits als wichtigen Teil der Gemeinde und freuen uns darauf, ein Arbeitgeber und Produzent zu werden.

Aguia gibt auch bekannt, dass seine geplante Notierung an der Toronto Venture Exchange gut voran geht, zumal der Großteil der erforderlichen Dokumentation nun bei den Regulierungsbehörden der TSX-V zur Prüfung eingereicht wurde. Ein Update des Zeitplans der Notierung wird in Kürze bereitgestellt werden.

Für weitere Informationen kontaktieren Sie bitte:

Justin Reid, Managing Director

E: jreid@aguiaresources.com.au

T: +1 416-216-5446

Catherine Stretch, Chief Commercial Officer

E: cstretch@aguiaresources.com.au

T: +1 416-309-2695

Jan-Per Hole, Vice President Corporate Development Australia

E: jph@aguiaresources.com.au

T: +61 (0) 414 899 732

Veröffentlicht über: Ben Jarvis, Six Degrees Investor Relations: +61 413 150 448

In Europa:

Swiss Resource Capital AG

Jochen Staiger

info@resource-capital.ch

www.resource-capital.ch

Folgen Sie uns auf Twitter: @ Aguia_Resources

Über Aguia:

Aguia Resources Limited (Aguia) ist ein an der ASX notiertes Unternehmen, dessen Hauptaugenmerk auf die Exploration und Erschließung von Phosphatprojekten in Brasilien gerichtet ist. Aguia hat ein renommiertes und erfahrenes inländisches Team zusammengestellt, dessen Sitz sich in Belo Horizonte (Brasilien) befindet, wobei es auch Niederlassungen in Sydney (Australien) gibt. Die Schlüsselprojekte von Aguia befinden sich in Rio Grande do Sul, einer wichtigen landwirtschaftlichen Region, die zu 100 Prozent von Phosphatimporten abhängig ist. Die Phosphatlagerstätten in Rio Grande sind qualitativ hochwertig, ermöglichen eine kostengünstige Produktion und befinden sich außerdem in der Nähe einer Straßen-, Eisenbahn- und Hafeninfrastruktur. Das erfahrene Management-Team von Aguia kann eine umfassende Erfahrung bei der Weiterentwicklung von qualitativ hochwertigen brasilianischen Bergbauaktiva in die Produktion vorweisen.

Die Informationen in dieser Meldung, die sich auf Explorationsziele, Explorationsergebnisse, Mineralressourcen oder Erzreserven beziehen, basieren auf Informationen, die von Dr. Fernando Tallarico, einem Mitglied der Association of Professional Geoscientists of Ontario, erstellt wurden. Dr. Tallarico ist ein Vollzeitangestellter des Unternehmens. Dr. Tallarico verfügt über ausreichende Erfahrung, die für diese Art von Mineralisierung und Lagerstätte sowie für seine Tätigkeiten erforderlich ist, um als kompetente Person (Competent Person) gemäß der Ausgabe von 2012 des Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves definiert werden zu können. Dr. Tallarico erlaubt das Hinzufügen von Material zu diesem Bericht, das auf seinen Informationen basiert und in Form und Kontext erscheint.

Die Ausgangssprache (in der Regel Englisch), in der der Originaltext veröffentlicht wird, ist die offizielle, autorisierte und rechtsgültige Version. Diese Übersetzung wird zur besseren Verständigung mitgeliefert. Die deutschsprachige Fassung kann gekürzt oder zusammengefasst sein. Es wird keine Verantwortung oder Haftung: für den Inhalt, für die Richtigkeit, der Angemessenheit oder der Genauigkeit dieser Übersetzung übernommen. Aus Sicht des Übersetzers stellt die Meldung keine Kauf- oder Verkaufsempfehlung dar! Bitte beachten Sie die englische Originalmeldung auf www.sedar.com, www.sec.gov, www.asx.com.au/ oder auf der Firmenwebsite!

Die vollständige Meldung finden Sie hier: http://stockmarket.hobsonwealth.co.nz/news-item?S=AGR&E=ASX&N=1013104

Aguia Resources Limited ABN 94 128 256 888

Suite 4, Level 9, 341 George Street, Sydney, NSW 2000

Telephone 02 9299 9690 Facsimile 02 9299 9629

www.aguiaresources.com.au

http://www.irw-press.at/prcom/images/messages/2017/39693/08052017_EN_Aguia_Drilling_Update_deprcom.001.jpeg

Figure 1: Geological map of the Três Estradas carbonatite draped over aerial photograph, highlighting the status of the ongoing drilling program.

http://www.irw-press.at/prcom/images/messages/2017/39693/08052017_EN_Aguia_Drilling_Update_deprcom.002.png

Figure 2: Drilling section 950NE of the Três Estradas Deposit, showing the new southeast zone and one of the highlighted drill results of TED-17-124, which returned recently and confirmed the model of the new zone. Note that the bulk of the new carbonatite drilled in this section is beyond the previous pit model.

Table 1 - Assay Results of the Drilling Campaign

(*Holes identifications initiated with TED are diamond holes and those initiated with TER are reverse circulation holes)

Hole_IDFrom To (m)LengthP2O5% CaO% MgO% Fe2O3%SiO2% Al2O3%

(m) (m)

TED-17-31,10 76,80 45,70 4,51 32,76 8,49 7,62 12,57 0,65

111

138,60163,7525,15 3,43 32,70 7,58 7,82 14,48 2,91

214,65283,7769,12 3,29 31,23 7,20 8,53 16,96 4,01

TED-17-7,30 11,15 3,85 8,06 12,24 3,32 16,66 39,38 7,05

114

11,15 31,85 20,70 3,74 30,34 9,35 8,56 11,67 1,82

35,85 72,60 36,75 3,27 31,62 7,95 8,48 15,97 2,71

160,00182,0022,00 3,73 23,61 7,91 11,53 26,25 5,97

188,00267,0079,00 3,23 29,14 8,29 9,38 15,95 3,60

TED-17-0,00 4,52 4,52 3,93 25,92 4,17 11,46 25,08 4,68

115

4,52 26,00 21,48 3,22 38,33 4,99 6,51 12,58 2,96

44,92 64,00 19,08 3,90 20,21 9,44 12,02 35,83 6,48

TED-17-162,00193,4031,40 3,02 28,91 6,06 8,65 22,28 4,23

118

TED-17-16,00 22,40 6,40 4,04 14,83 6,57 10,07 38,78 8,82

121

22,40 51,00 28,60 3,53 34,01 9,07 6,87 11,32 1,81

TED-17-40,00 94,00 54,00 3,70 30,65 11,06 7,20 11,69 1,71

124

TED-17-0,00 4,00 4,00 14,23 19,16 3,42 43,96 229,2045,50

125

52,00 29,00 27,00 3,36 32,27 8,11 7,12 16,13 2,55

TED-17-47,45 87,50 40,05 3,08 32,01 7,91 7,09 17,57 2,52

126

TED-17-50,45 79,00 28,55 3,87 34,59 8,63 6,48 10,91 2,15

127

Hole_IUTM_E UTM_N ElevatiLengthStatusDatum AzimutDip

D on (m) of h

(m) coord

inate

TED-177672896577245342 288,70GPS SAD-69 150,00-60,00

-111 Z21S

TED-177672986577195341 279,45GPS SAD-69 150,00-60,00

-114 Z21S

TED-177667546576772351 65,25 GPS SAD-69 150,00-60,00

-115 Z21S

TED-177677646576921340 199,20GPS SAD-69 330,00-55,00

-118 Z21S

TED-177677156577005350 66,35 GPS SAD-69 330,00-55,00

-121 Z21S

TED-177674746576829353 105,00GPS SAD-69 330,00-55,00

-124 Z21S

TED-177675206576836355 97,00 GPS SAD-69 330,00-55,00

-125 Z21S

TED-177675636576862356 95,40 GPS SAD-69 330,00-55,00

-126 Z21S

TED-177676456576928353 107,80GPS SAD-69 330,00-55,00

-127 Z21S

JORC Code, Table 1

Section 1 Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections.)

CriteriJORC Code explanation Commentary

a

Samplin· Nature and quality of · Work is being carried out

g sampling using RC and diamond

techni ( drilling, with samples

ques eg cut channels, random being analysed by

chips, or specific laboratory analyses

specialised industry suitable for the

standard measurement tools carbonatite mineralisation

appropriate to the being

minerals under

investigation, such as targetted

down hole gamma · Drill hole locations are

detailed in a table in the

sondes, or handheld XRF text of this release, and

instruments, shown graphically on a

plan

etc). These examples should

not be taken as limiting

the broad meaning of

sampling.

· Include reference to · Hole locations are picked

measures taken to ensure up using hand-held GPS.

sample Sampling is carried out

using comprehensive

representivity and the

appropriate calibration of Aguia protocols and QAQC

any measurement tools or procedures as per industry

systems best

used. practice

· Aspects of the · Mineralisation is

determination of generally

mineralisation that are visual

Material to the Public

Report. In cases where · RC samples are collected

industry standard work and assayed at 1m

has been done this would intervals, with a

be relatively simple representative 2kg sample

( of all intervals being

eg reverse circulation collected for XRF assay at

drilling was used to the

obtain 1 m samples from

which 3 kg was pulverised laboratory.

to produce a 30 g charge · Half core diamond drill

for fire assay). In other samples in mineralized

cases more explanation may material are generally

be required, such as where collected at 1m intervals

there is coarse gold that and sent to the laboratory

has inherent sampling for assay; however lengths

problems. Unusual will vary to generally

commodities or between 0.5 and 1.5m to

mineralisation types honour geological

( boundaries where required.

eg submarine nodules) may

warrant disclosure of

detailed · In all cases drilling

information. samples are sent to SGS

laboratories in Belo

Horizonte and analysed

using method XRF79C_10 -

Lithium tetra borate

fusion. Elements assayed

for include

SiO

2, Al2O3, Fe2O3, CaO, MgO,

TiO

2, P2O5, Na2O, K2O, MnO and

LOI, which is considered

suitable for the type of

mineralisation

Drillin· Drill type (eg core, · Reverse Circulation -

g reverse circulation, Drilling utilized a face

techni open-hole hammer, rotary sampling Hard Formation

ques air blast, auger, Bangka, Bit with Tungsten buttons

sonic, and a diameter of 5 œ

inches. No downhole

etc) and details (eg core surveys were completed.

diameter, triple or

standard tube, depth of

diamond tails, · Core Drilling - Drilling

face-sampling bit or other utilized HQ equipment for

type, whether core is weathered material and NQ

oriented and if so, by for fresh rock. Downhole

what method, surveys are performed on

3-metre intervals using a

etc).

Maxibore down-hole tool. No

core orientation has been

carried

out.

Drill · Method of recording and · RC - recoveries are

sample assessing core and chip monitored by samples

recove sample recoveries and weight. The minimum

ry results recovery is

assessed. 85%.

· Core Drilling - Recovery

by sample and by drill run

was recorded; core

recovery generally exceeds

97%

· Measures taken to · Diamond Drilling - Due to

maximise sample recovery the coherent nature of the

and ensure representative fresh rock and homogenous

nature of the nature of the

samples. mineralisation sample

recovery is not an issue.

In the

saprolite recovery is

maximised using short

drill runs and best

drilling

practices.

· RC - Dry samples are

collected through a

cyclone and riffle

splitter ensuring

homogenisation and

representative sampling.

Wet samples are dried, and

then homogenised and

sampled by

hand.

· Whether a relationship · Mineralisation is

exists between sample homogenous throughout the

recovery and grade and mineralized intervals,

whether sample bias may with no relationship

have occurred due to between sample recovery

preferential loss/gain of and grade on any type of

fine/coarse drilling.

material.

Logging· Whether core and chip · RC - logging is to a

samples have been detail considered suitable

geologically and for inclusion in resource

estimations

geotechnically logged to a

level of detail to support · Diamond - logging is

appropriate Mineral considered suitable for

Resource estimation, inclusion in resource

mining studies and estimations, metallurgical

metallurgical studies and preliminary

studies. mining studies. The lack

of orientated core and

geotechnical logging prior

to cutting precludes the

use in detailed mining

studies

· Whether logging is · RC logging includes

qualitative or lithology and

quantitative in nature. weathering

Core (or

· Diamond logging includes

costean, channel, etc) rock type, alteration,

photography. structure and qualitative

magnetism. No core

orientation has been

carried out, with

structural measurements

being limited to alpha

angles only. All core is

photographed dry before

being

cut

· The total length and · 100% of the relevant

percentage of the relevant intersections of all

intersections drilling are

logged logged

Sub-sam· If core, whether cut or · Solid core is sawn in

pling sawn and whether quarter, half, with half being sent

techni half or all core for assay and half being

ques taken. retained for reference.

and Friable core is split down

sample the

prepar

ation center line using a

spatula or similar tool,

with half being retained

and half sent for

assay.

· If non-core, whether · RC- One metre samples are

riffled, tube sampled, collected from the

rotary split, cyclone, with moist

samples being split using

etc and whether sampled wet a plastic liner and metal

or cross-blade device, and

dry. dry samples being split

through a riffle splitter.

Saturated samples are

dried before

homogenization. Two

representative samples of

between 500g and 2kg are

collected, with one for

assay and a second for

reference.

· For all sampling and

drilling, samples are

dried and crushed, and

then milled to 75% passing

80 mesh using LM mills at

the

laboratory.

· For all sample types, the · The sample preparation

nature, quality and techniques are industry

appropriateness of the standard and are

sample preparation considered appropriate for

technique. the mineralisation being

investigated

· Quality control · Industry standard

procedures adopted for all procedures are employed,

sub-sampling stages to including ensuring

maximise non-core samples are

adequately homogenized

representivity of samples. before assay and archive

samples are

collected

· Measures taken to ensure · No field duplicate

that the sampling is samples or second half

representative of the in sampling was done. The

situ material collected, target mineralization is

including for instance largely

results for field homogeneous.

duplicate/second-half

sampling.

· Whether sample sizes are · Sample sizes are

appropriate to the grain considered appropriate to

size of the material being the grain size of the

sampled. material being

assayed

Quality· The nature, quality and · The XRF method used is

of appropriateness of the industry standard and

assay assaying and laboratory considered appropriate for

data procedures used and the analysis of

and whether the technique is apatite-hosted phosphate

labora considered partial or mineralisation.

tory total.

tests

· Sample preparation and

analysis was completed at

SGSs Belo Horizonte

laboratory in Brazil using

standard crushing and

pulverization

techniques.

· The prepared pulps are

analysed by a lithium

borate fusion XRF

spectroscopy for major

oxide elements (P2O5,

Al2O3,

CaO, Fe2O3, K2O, MgO, MnO2,

SiO2, TiO2, Na2O and LOI

(Method code XRF79C and

PHY01E).

· In specific cases,

samples were also analysed

for a suite of 31 elements

using an aqua

regia digestion and

inductively coupled plasma

- mass spectrometry

(Method code

ME-MS81).

· The preparation and

analytical procedures are

appropriate for the type

of mineralization sampled

and are reliable to

deliver the total content

of the analysed

compounds.

· make and model, reading · Where utilised, hand held

times, calibrations XRF is an Delta Analyser

factors applied and their CS-4000 by

derivation,

etc. Innov-X Systems

· For geophysical tools, · There is a calibration

spectrometers, handheld plate supplied by

XRF instruments, INOVV-X-Systems for the

calibration of the

etc, the parameters used in Portable X Ray

determining the analysis Fluorescence

including equipment.

instrument

· Nature of quality control · Aguia has prepared two

procedures adopted certified phosphate

( reference materials

eg standards, blanks, (standards) from material

duplicates, external collected from the

laboratory checks) and

whether acceptable levels Tres Estradas deposit -

of accuracy these comprise a mid and

( high grade standard and

ie lack of bias) and are considered appropriate

precision have been to the mineralisation

established. being

drilled

· This is in addition to

fine and coarse blank

standards prepared from

barren quartz

veins.

· One each of the above

company supplied standards

is included in each batch

of 48 samples, in addition

to a pulp duplicate.

· One batch of 48 samples

is sent monthly for umpire

laboratory

testing.

· Umpire testing is

performed at

At ALS Chemex in Lima,

Peru, where they are

analyzed for a suiten of

elements using method code

XRF12pt/XRF24)

· Additionally, Aguia relies

on the analytical quality

control measured

implemented by the ISO

accredited laboratory

used.

Verific· The verification of · The AGR procedures

ation significant intersections consists an internal

of by either independent or double check and, when

sampli alternative company required an independent

ng and personnel. verification during the

assayi independent audit

ng process.

· The use of twinned holes. · Given this is the initial

programme at TE South no

twin holes have been

drilled

· Documentation of primary · Data is manually entered

data, data entry onto logging sheets on

procedures, data site by

verification, data storage

(physical and electronic) Aguia geologists. This data

protocols. is then entered into a

digital database

consisting of Excel

workbooks. Assay data from

the laboratory is merged

into the downhole sample

sheets. All original

logging sheets and digital

data are stored. Digital

data is regularly backed

up.

· Data is yet to be

externally audited;

external audits of

previous drilling has

confirmed the veracity of

work carried

out

· Discuss any adjustment to · There is no adjustment to

assay assay

data. data

Locatio· Accuracy and quality of · All borehole collars were

n of surveys used to locate surveyed according to the

data drill holes (collar and local UTM coordinate

points down-hole surveys), system (South American

trenches, mine workings Datum 1969 - SAD69, Zone

and other locations used 21S), using differential

in Mineral Resource GPS equipment before

estimation. drilling

started, and once drilling

had been

completed.

· Specification of the grid · SAD 1969 UTM system, Zons

system 21S

used.

· Quality and adequacy of · A topographic survey of

topographic the project area was

control. completed using

differential GPS

technology.

· The survey consisting of

lines spaced 25 metres

apart, and control lines

spaced 100 metres

apart.

· The topographic survey

generated contour lines at

1-metre intervals in the

meta-carbonatite area.

Contour lines at 5-metre

intervals were obtained

for the remaining area

using shuttle radar

topography mission (SRTM)

and

orthorectified Geoeye images

with 0.5 metre

resolution.

Data · Data spacing for · RC Drilling - RC holes,

spacin reporting of Exploration all vertical, at

g and Results.

distri Tres Estrada South are

bution being drilled on 50m

spaced lines, with spacing

along drill lines

determined by carbonatite

outcrop

· Diamond Drilling -

Diamond holes (inclined)

at

Tres Estradas are being

drilled on 100m spaced

lines, with spacing along

drill lines determined by

carbonatite outcrop

· Whether the data spacing · The data spacing and

and distribution is distribution is considered

sufficient to establish suitable for the style of

the degree of geological mineralisation being

and grade continuity tested, and will be

appropriate for the suitable for use in

Mineral Resource and Ore Mineral Resource and

Reserve estimation Reserve

procedure(s) and estimations

classifications

applied.

· Whether sample · For the purposes of

compositing has been reporting of results no

applied. sample compositing has

been

applied

Orienta· Whether the orientation · The bulk nature of the

tion of sampling achieves mineralisation indicates

of unbiased sampling of that sampling bias will

data possible structures and not be introduced by

in the extent to which this changing drilling

relati is known, considering the direction

on to deposit

geolog type.

ical

struct

ure

· If the relationship · Given the bulk and

between the drilling homogenous nature of the

orientation and the mineralisation it is

orientation of key considered that there is

mineralised structures is no sampling

considered to have bias

introduced a sampling

bias, this should be

assessed and reported if

material.

Sample · The measures taken to · Chain of custody is

securi ensure sample managed by

ty security.

Aguia. Samples are stored

on site. Assay samples are

sent by freight express to

the relevant laboratories.

Audits · The results of any audits · Tres Estradas - Audit by

or or reviews of sampling SRK Consulting in early

review techniques and 2013 and late 2014

s data. indicated that techniques

utilised by

Aguia were in line with

generally accepted

industry best practices.

The same audit found no

issues with the data.

Section 2 Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section.)

CriteriaJORC Code explanation Commentary

Mineral · Type, reference · Tres Estradas

tenemen name/number, location and Permit 810.090/91,

t and ownership including irrevocable right to 100%

land agreements or material under an exercised option

tenure issues with third parties agreement with

status such as joint ventures,

partnerships, overriding Companhia Brasiliera de Cob

royalties, native title re

interests, historical (CBC).

sites, wilderness or

national park and On July 1, 2011, CBC and Ag

environmental uia

settings. Metais Ltda., a

subsidiary of

· The security of the

tenure held at the time Aguia in Brazil, executed

of reporting along with an option agreement

any known impediments to providing the irrevocable

obtaining a licence to purchase option of these

operate in the mineral rights by

area.

Aguia Metais (or its

affiliate or

subsidiaries). On May 30,

2012

Aguia Metais exercised the

purchase option

concerning these mineral

rights by means of its

affiliate

Aguia Fertilizantes S/A (Ag

uia

Fertilizantes). On July

10, 2012, CBC and

Aguia Fertilizantes execute

d an irrevocable agreement

providing the assignment

of these mineral rights

to

Aguia Fertilizantes. On

July 20, 2012 CBC filed a

request before the DNPM

applying for the transfer

of these mineral rights

to

Aguia Fertilizantes.

The 2nd two-year term

expired on August 16,

2012, with the Final

Exploration Report now

under review by the

Government, approval of

which will allow the

Company a further year

(from the date of

approval) to submit an

Economic Exploitation

Plan.

· Tres Estradas South

Permit 810.325/12,

irrevocable right to 100%

under an exercised option

agreement with

Companhia Brasiliera de Cob

re

.

Granted April 29, 2013,

initial 3 year term

expiry April 29, 2016.

The partial report with

time extension request

was filed February 23,

2016.

Explorat· Acknowledgment and · Tres Estradas and Tres Es

ion appraisal of exploration trada

done by other South

by parties.

other Discoveries of phosphate

parties rich rocks at TE were

made by a joint

exploration programme

between

Companhia Brasileiraa do Co

bre

and Santa Elina in

2007/2008 during a gold

exploration programme.

This involved an

integrated geochemical/

geological/geophysical

and drilling programme.

The gold results were

disappointing, causing

Santa Elina to withdraw

from the JV, however +6%

phosphate values were

noted in assaying of

soils and drill

core.

Geology · Deposit type, geological · Tres Estradas and Tres Es

setting and style of tradas

mineralisation. South

The mineralisation is a

carbonatite hosted

phosphate deposit, with

apatite as the phosphate

bearing mineral. The

NE-SW trending

carbonatite is probably

Mid-Proterozoic in age,

and has been

affected by

Neo-Proterozoic shearing

and metamorphism. It is

hosted in the Santa Maria

Chico Granulite Complex,

within the

Taquarembo Domain of the

Achaean to Proterozoic

Sul-rio-grandense Shield.

Drill · A summary of all · Drillhole information is

hole information material to listed in the appropriate

Informa the understanding of the tables in this document,

tion exploration results and presented in maps and

including a tabulation of sections

the following information

for all Material drill

holes:

o easting and northing of

the drill hole

collar

o elevation or RL (Reduced

Level - elevation above

sea level in metres) of

the drill hole

collar

o dip and azimuth of the

hole

o down hole length and

interception

depth

o hole length.

· If the exclusion of this

information is justified

on the basis that the

information is not

Material and this

exclusion does not

detract from the

understanding of the

report, the Competent

Person should clearly

explain why this is the

case.

Data · In reporting Exploration · Drill intersections are

aggrega Results, weighting length weighted. A

tion averaging techniques, nominal 3%

methods maximum and/or minimum P

grade truncations 2O5 lower cutoff is used,

( and there is no upper cut

eg cutting of high grades) applied to

and cut-off grades are intersections.

usually Material and

should be

stated.

· Where aggregate · Not applicable

intercepts incorporate

short lengths of high

grade results and longer

lengths of low grade

results, the procedure

used for such aggregation

should be stated and some

typical examples of such

aggregations should be

shown in

detail.

· The assumptions used for · Not applicable

any reporting of metal

equivalent values should

be clearly

stated.

Relation· These relationships are · RC drilling is targetting

ship particularly important in the flat lying upper

between the reporting of oxide mineralisation -

mineral Exploration these holes may be

isation Results. terminated in

widths mineralisation once fresh

and rock has been

interce intersected

pt

lengths · Diamond drilling is targe

tted

to intersect the full

width of the interpreted

steeply dipping

carbonatite bodies

· If the geometry of the · RC drilling is generally

mineralisation with perpendicular to the

respect to the drill hole flat-lying oxide blanket,

angle is known, its and oxide intersection

nature should be widths will reflect the

reported. true thickness of the

oxide

layer.

· Diamond holes are

drilled at an acute angle

to the steeply to

vertically dipping

carbonatite bodies, hence

downhole widths will be

greater than true widths.

For

drillholes drilled at

-60°, true mineralisation

widths will generally be

in the order of 40-60% of

downhole intersection

lengths - this is shown in

more detail on included

cross

sections.

· If it is not known and · Down hole lengths are

only the down hole reported

lengths are reported,

there should be a clear · Relationships between

statement to this effect true lengths and true

( thickness are shown in

eg down hole length, true cross

width not sections

known).

Diagrams· Appropriate maps and · Refer to maps and

sections (with scales) sections in

and tabulations of release

intercepts should be

included for any

significant discovery

being reported These

should include, but not

be limited to a plan view

of drill hole collar

locations and appropriate

sectional

views.

Balanced· Where comprehensive · Results from all drillhol

reporti reporting of all es

ng Exploration Results is have been reported

not practicable,

representative reporting

of both low and high

grades and/or widths

should be practiced to

avoid misleading

reporting of Exploration

Results.

Other · Other exploration data, · Geological mapping and

substan if meaningful and interpretation is used as

tive material, should be a base for included drill

explora reported including (but hole plans and

tion not limited to): sections

data geological observations;

geophysical survey

results; geochemical

survey results; bulk

samples - size and method

of treatment;

metallurgical test

results; bulk density,

groundwater, geotechnical

and rock characteristics;

potential deleterious or

contaminating

substances.

Further · The nature and scale of · As presented in the text

work planned further work of this

( report

eg tests for lateral

extensions or depth

extensions or large-scale

step-out

drilling).

· Diagrams clearly · As presented in the text

highlighting the areas of of this

possible extensions, report

including the main

geological

interpretations and

future drilling areas,

provided this information

is not commercially

sensitive.

Section 3 Estimation and Reporting of Mineral Resources

Not applicable to this release - this does not include mineral resource estimations

Section 4: Estimation and Reporting of Ore Reserves

Not applicable to this release

Section 5: Estimation and Reporting of Diamonds and Other Gemstones

Not applicable to this release

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