KM Prospect Drilling Yields Up to 26.8% P2O5 Over 53 Metres in Tunisia
PhosCo Ltd reports outstanding phosphate assay results from its maiden drilling at the KM Prospect within the Gasaat Project, revealing some of Tunisia's highest grades and promising strong project economics.
- Maiden drilling confirms thick, high-grade phosphate mineralisation at KM Prospect
- Multiple intercepts exceed 26% P2O5, with nine samples above 28% P2O5
- Shallow mineralisation with low strip ratio near proposed processing plant
- Preliminary metallurgical testing underway to optimize processing route
- Resource growth and economic enhancement prioritized alongside SAB Prospect
Exceptional Assay Results at KM Prospect
PhosCo Ltd (ASX, PHO) has announced exceptional assay results from its maiden drilling program at the KM Prospect, part of the Gasaat Phosphate Project in Tunisia. The assays reveal thick and consistently high-grade phosphate mineralisation, with multiple intercepts exceeding 26% P2O5 and several samples surpassing 28% P2O5. These grades rank among the highest ever reported in Tunisia, marking KM as a significant discovery within the region.
Strategic Location and Economic Potential
The KM Prospect’s phosphate mineralisation is notably shallow and located in close proximity to the proposed processing plant. This positioning, combined with a low strip ratio, suggests a mining scenario with reduced operational costs and enhanced project economics. PhosCo’s Managing Director, Taz Aldaoud, highlighted the potential for KM to accelerate early production timelines and improve overall project viability.
Ongoing Metallurgical and Resource Development
PhosCo is undertaking preliminary metallurgical testing to identify the optimal processing route for the KM mineralisation. These tests will be critical in confirming the economic feasibility and refining the development strategy. Concurrently, the company is advancing resource estimation efforts at KM and the nearby SAB Prospect, aiming to grow the resource base and prioritize deposits with low strip ratios early in the project’s life.
Geological Context and Exploration Progress
The Gasaat Project hosts marine carbonate sedimentary phosphate deposits, with KM exhibiting phosphate thicknesses far exceeding the project average. While some geological complexities such as faulting have been identified, ongoing drilling and geological interpretation are addressing these challenges. The company acknowledges the support of local communities and government bodies, which has been instrumental in progressing the discovery.
Looking Ahead
With the receipt of these promising assay results, PhosCo is well-positioned to advance the Gasaat Project towards development. The combination of high-grade mineralisation, favourable mining conditions, and strategic location near processing infrastructure sets a strong foundation for future growth and value creation.
Bottom Line?
PhosCo’s KM Prospect discovery could reshape the economics of phosphate mining in Tunisia, with further metallurgical and resource updates eagerly awaited.
Questions in the middle?
- How will metallurgical test results influence the processing strategy and project costs?
- What is the expected timeline for the updated resource estimate and potential mine development?
- How might geological faulting impact the continuity and scale of the KM mineralisation?
