Copper resource for Brazil phosphate junior

PHOSPHATE rock junior Aguia Resources had estimated a modest maiden copper resource in Brazil it believes is a great foundation for further exploration and expansion.
Copper resource for Brazil phosphate junior Copper resource for Brazil phosphate junior Copper resource for Brazil phosphate junior Copper resource for Brazil phosphate junior Copper resource for Brazil phosphate junior

While most of Aguia's attention in Brazil has been on phosphate, a copper play has recently been added to the mix

The inferred Andrade copper deposit contains 10.8 million tonnes grading 0.56% copper and 2.56 grams per tonne silver, included within which there's an "open pit constrained" 1.3Mt of oxidised material at 0.43% copper.

Aguia said the resource is located in a single structural panel, and that it had identified "at least" four panels over an 8km strike which starts north of Andrade and ends 2 km to the south of Primavera.

Andrade is in Rio Grande do Sul.

Meanwhile Aguia is aiming to soon complete environmental permitting for its Tres Estradas phosphate rock project, with about US$84 million initially needed to develop the project.

Aguia raised A$2.9 million last quarter by issuing new shares priced at 12c each.

Shares in Aguia were down 9% to 10c in morning trade, capitalising the company at $16 million.