PhosCo Ltd (ASX:PHO), an ASX-listed company focused on developing phosphate resources, is pleased to announce significant drilling results from its wholly owned Gasaat Phosphate Project in Tunisia. PhosCo is focused on developing phosphate resources. The company’s Gasaat project aims to capitalise on the growing global demand for phosphate-based products. The latest results are from the KM prospect and include the thickest phosphate intersection ever recorded at the project.
The maiden drilling program at the KM prospect continues to deliver outstanding results. Three drill holes have intersected thick, shallow phosphate mineralisation. Drill hole GADD003 intersected 52.5 metres of phosphate from 53 metres depth, while GADD006 intersected 36 metres from 31 metres, and GADD005 intersected 34.6 metres from 24.5 metres. The company has expedited assays from KM, with results expected later this month, after which preliminary metallurgical testing will commence.
The KM prospect’s characteristics, including its proximity to the proposed plant site, thick mineralisation, and low strip ratio, position it to potentially support an accelerated production start-up. These factors may also significantly enhance the project’s development economics by reducing both mining and haulage costs. PhosCo has also published a new exploration target at KM and is on track to announce a maiden Mineral Resource Estimate at the nearby SAB prospect this month.
Taz Aldaoud, Managing Director of PhosCo, stated that KM is rapidly emerging as a highly significant discovery with the potential to underpin an accelerated production start-up and boost the overall economics of Gasaat. The company is continuing its project optimisation program with the goal of growing the resource at Gasaat and prioritising low-strip resources that will significantly enhance the project’s economics early in its life.
