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 ½ 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