PhosCo Ltd (ASX: PHO), an ASX-listed company focused on the exploration and development of phosphate projects, has announced significant maiden Mineral Resource estimates (MREs) for its KM and SAB phosphate deposits, both situated within its wholly owned Gasaat Phosphate Project in Tunisia. The Gasaat Project aims to become a major producer of phosphate. These new resources are expected to enhance the project’s overall scale and economic potential, providing a strong foundation for future development.
The maiden MREs for KM and SAB collectively total 20.2 million tonnes (Mt) at an average grade of 20.5% P2O5, with a substantial 14.2 Mt classified in the higher-confidence Indicated category. Specifically, the KM deposit contributes 12.0 Mt at 20.5% P2O5 (Indicated and Inferred) with a favourable average strip ratio of 0.4:1. The SAB deposit adds 8.2 Mt at 20.6% P2O5 (Indicated and Inferred) with an average strip ratio of 2.6:1. This expansion brings the Gasaat global Mineral Resource inventory to 166.6 Mt at 20.6% P2O5, with 92% of this total now categorised as Measured and Indicated.
PhosCo Managing Director, Taz Aldaoud, highlighted that the low strip ratios and proximity of the KM and SAB deposits to the proposed processing plant are anticipated to have a notable impact on early production and cashflow at Gasaat. The new resources will be incorporated into an updated Scoping Study, slated for release in the third quarter of this year, which will also factor in ongoing mine planning and advanced metallurgical test work. The Gasaat Project is strategically positioned in Tunisia, a key region for phosphate production, and holds potential for a large-scale, long-life world-class phosphate mining operation.
