Walk through Aguia’s (ASX:AGR) latest key advances at copper and phosphate projects - Kalkine Media

Highlights

• Aguia Resources is developing a phosphate project to produce organic phosphate fertiliser and a copper project to produce cathode copper.
• The company has received construction licence for its phosphate project.
• Agronomic tests using the company’s natural fertiliser Pampafos on various crops have delivered outstanding results.
• Drilling continues to deliver high-grade copper zones at the Andrade project.

Aguia Resources Limited (ASX:AGR) has been systematically advancing its Tres Estradas Phosphate Project and the Andrade Copper Project.

The two pre-production projects are situated in the southernmost Brazilian state of Rio Grande do Sul, within a short distance from each other.

Data source: AGR update

Image source: AGR presentation

The recently released September 2022 quarter report highlighted the notable events that advanced the company’s exploration endeavours. Moreover, subsequent to the period, the company reported critical milestones related to its phosphate project.  

Aguia makes headway across the Brazilian phosphate project

Aguia says that its phosphate project already meets 10 of the 17 Sustainable Development Goals (SDGs) proposed by the United Nations. The company remains committed to achieving the remaining seven goals.

The quarter saw Aguia making progress towards securing environmental permitting for TEPP or the phosphate project. Following a request from the Rio Grande do Sul State Environmental Agency (‘FEPAM’) for information about environmental programs related to physical and biotic environment, socioeconomic background and an updated summary of land information, a requested supplementary information was lodged by the company on 1 August 2022.

In November, the company secured the construction licence for its phosphate project, a critical milestone in the environmental permitting of the mine. To know more about this development, click here.  

Moreover, the company received outstanding results from the agronomic testing on pasture using its natural fertiliser Pampafos® from its phosphate project.

Also read Aguia (ASX:AGR) on consistent success with agronomic tests on various crops

Drilling underway at the Andrade copper project 

The drilling program at the Andrade Copper Project is in progress. The company continues to hit high-grade copper zones, confirming and extending to the south the shallow high-grade copper zone within the existing Andrade Mineral Resource area.

According to the company, Hole AND-22-019 has delivered the best copper mineralisation intercept drilled. It has also returned a significant mineralised intercept which will strengthen the entire resource model.

Best intercepts (Data source: company update)

Growth plans for December 2022 quarter

Aguia will continue to hold agronomic trials for the phosphate project in the December quarter. This will include crucial tests on varied oil types and crops, during which different doses of Pampafos® are used. Through these tests, the company intends to analyse the product’s performance and efficacy of the phosphate in the soil and crop.

Such tests and their results will help the company understand the positioning of the product in the market and determine its future sales.

Some agronomic trials are being performed with the Federal University of Pelotas, Integrar Gestão e Inovação Agropecuária, and the Federal University of Rio Grande do Sul.

For the Andrade Copper Project, the company Aguia will take forward the comprehensive infill drilling program. The company will continue to focus on its primary aim to enhance the mineral resource classification to measured and indicated and potentially increase the tonnes and grade of the deposit.

Next steps (Image source: AGR presentation)

AGR shares traded at AU$0.059 on 17 November 2022.