PHOSPHATE Australia has released further strong phosphate assay results from drilling at the Highland Plains, Northern Territory.
The company says results from Phase 2 are notable, for the continued high grade phosphate intersections at shallow depth.
High grade hits included 10 metres at 24.7% P2O5 from 8 metres; (with 4 metres at 31.1% from 11 metres) and 5 metres at 24.7% P2O5 from 34 metres.
Phosphate Australia says the results mean the group can look at potentially developing a near term, low (CAPEX) cost, starter mining operation at "Western Mine deposit" at Highland Plains, around 500,000 tpa. Given, the high grade, surface mineralisation discovered at the project.
Andrew James managing director of Phosphate Australia says an updated resource estimate is likely to be upgraded in late October, from the current 56mt at 16% P205, after these assay results.
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