PhosCo Ltd has reported significant phosphate mineralisation from recent drilling at the KM prospect within its Gasaat Phosphate Project in Tunisia, supporting upcoming maiden resource estimates and project optimisation efforts.
- Three recent drill holes at KM intersect thick, shallow phosphate mineralisation
- Phosphate grades expected between 10% and 30% P2O5 based on pXRF readings
- Maiden resource estimates for KM and SAB prospects on track for April completion
- Drilling resumed at the DOH prospect following KM program completion
- Preliminary metallurgical testing and mine planning studies underway
Recent Drilling Highlights at KM Prospect
PhosCo Ltd (ASX:PHO) has announced further exploration results from its wholly owned Gasaat Phosphate Project in Tunisia, focusing on the KM prospect. The company completed three drill holes, GADD-2026-28, GADD-2026-29, and GADD-2026-30, that intersected thick and shallow phosphate mineralisation. Visual observations validated by portable X-ray fluorescence (pXRF) indicate intercepts of 42.5m from 37.5m, 40m from surface, and 28m from 1m respectively. These results continue to demonstrate the geological continuity of the KM deposit.
PhosCo noted that pXRF testing suggests phosphate grades ranging from 10% to 30% P2O5, consistent with earlier laboratory-confirmed drilling results at KM. Previous intercepts at KM have included intervals such as 53m at 22.3% P2O5 and 49.8m at 22.4% P2O5, underscoring the prospect's potential quality.
Resource Estimation and Project Development
The maiden Mineral Resource estimates for the KM and SAB prospects are expected to be completed within April. These estimates will contribute to an updated and optimised Gasaat Scoping Study. The KM deposit's favourable characteristics, such as its proximity to the proposed processing plant, thick mineralisation, and low strip ratio due to shallow depth, may positively influence early project economics.
Following the completion of the KM drilling program, the drill rig has been redeployed to the DOH prospect, where PhosCo recently confirmed a significant phosphate discovery. Assay results from the latest drill holes at KM and DOH are anticipated in the coming weeks, which will inform potential maiden resource definitions for DOH alongside the existing Gasaat Mineral Resource Estimate of 146 million tonnes.
Geological Context and Metallurgical Testing
The Gasaat phosphate deposit is a marine carbonate-hosted sedimentary phosphate system characterised by a single, laterally continuous layer with variable thickness. At KM, the phosphate horizon is notably thicker than average, with some drill holes intersecting over 50 metres of continuous mineralisation. The deposit is overlain by dolomitic limestone and underlain by Cretaceous marls and mudstones.
Preliminary metallurgical testing of KM drill core samples is underway, aiming to identify optimal processing routes. These tests are part of a broader project optimisation program intended to expand the resource base and prioritise low-strip ratio resources to improve the project's early-stage economics.
Strategic Positioning and Next Steps
PhosCo's Managing Director, Taz Aldaoud, highlighted the strategic importance of the Gasaat Project's location on the Mediterranean Sea, offering supply diversity amid global phosphate fertiliser market pressures. The company is advancing mine-planning studies following the resource estimates, which will feed into the optimised Scoping Study.
Additional exploration and assay results, including those from the DOH prospect and the Simitu Copper/base-metals project, are expected shortly. These developments will provide further clarity on the project's scale and economic potential.
Bottom Line?
Upcoming assay results and maiden resource estimates will be critical to validating the current drilling success and guiding Gasaat’s development trajectory.
Questions in the middle?
- How will the final assay results from KM and DOH influence the overall resource classification and project economics?
- What processing methods will metallurgical testing identify as optimal for the KM phosphate mineralisation?
- How might the proximity of KM and SAB to the proposed plant impact the mine plan and early-stage production scheduling?