Aguia To Expand Land Holding Near Tres Estradas Phosphate Discovery
December 4, 2012 (Source: Aguia Resources) — Emerging fertiliser development company Aguia Resources Limited (ASX: AGR) (“Aguia” or “Company”) is pleased to announce that the Company has signed a Term Sheet with IAMGOLD Corporation (“IAMGOLD”) to acquire a large prospective landholding (“the Projects”) to the southwest and along strike from its Tres Estradas (“TE”) phosphate discovery located in the state of Rio Grande do Sul in southern Brazil.
Aguia have signed a Term Sheet to enter an exclusive Option Agreement (“Agreement”) with IAMGOLD to acquire 100% of a large landholding covering 27,342 hectares (273km
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The Projects are contiguous with the Tres Estradas (“TE”) licence where the Company has made a significant Phosphate discovery and cover the continuation of the magnetic trend extending from TE to the southwest for over 12 kilometres
TE is similar to the carbonatite style hosted phosphate deposits mined by Vale within Brazil, examples include the Araxa (Reserve: 88.7 Mt @ 11.1% P2O5) and Cajati (Reserve: 85.1 Mt @ 5.5% P2O5) operations
The Projects further consolidate the Company’s landholding in this highly prospective region where it now has 61 tenements covering 86,000 hectares (860km2)
Finalisation of the Option Agreement is subject to due diligence and execution within 45 days
Brazil imports 49% of its phosphate needs and the Rio Grande do Sul projects are located
near excellent infrastructure including roads, water, power and potential domestic primary
customers and major fertiliser blenders
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