PhosCo Ltd has delivered maiden Mineral Resource Estimates for the KM and SAB phosphate deposits at its Gasaat Project in Tunisia, adding 20.2 Mt at 20.5% P₂O₅ and lifting the total resource to 166.6 Mt. The shallow, low-strip deposits promise improved early production and underpin an updated scoping study due in Q3 2026.
- Maiden resources total 20.2 Mt at 20.5% P₂O₅
- KM deposit features ultra-low strip ratio of 0.4:1
- SAB deposit adds 8.2 Mt at 20.6% P₂O₅ with 2.6:1 strip ratio
- Global Gasaat resource now 166.6 Mt at 20.6% P₂O₅
- Mine planning and metallurgical tests underway for Q3 scoping study update
Maiden KM and SAB Resources Transform Gasaat Scale
PhosCo Ltd (ASX:PHO) has unveiled maiden Mineral Resource Estimates (MRE) for the KM and SAB phosphate deposits within its wholly owned Gasaat Project in Tunisia, injecting a fresh 20.2 million tonnes at 20.5% P₂O₅ into the project’s inventory. This lifts Gasaat’s global resource tally to a commanding 166.6 Mt at 20.6% P₂O₅, making it the only ASX-listed phosphate resource in the North African mega-province.
The KM deposit alone accounts for 12.0 Mt at 20.5% P₂O₅ with an exceptionally low average strip ratio of 0.4:1, signalling a potentially lucrative early production profile. SAB contributes an additional 8.2 Mt at 20.6% P₂O₅, albeit with a higher strip ratio of 2.6:1. Together, these deposits are shallow, open-pit amenable, and strategically positioned near the proposed processing plant, factors expected to bolster early cashflow generation.
High-Confidence Resources Underpin Feasibility Progress
Measured and Indicated Resources dominate the Gasaat inventory, representing 92% of the total, which provides a robust foundation for advancing towards a Bankable Feasibility Study. The KM and SAB maiden estimates were compiled by SRK Consulting following rigorous JORC 2012 standards, incorporating extensive diamond drilling, channel trenching, and detailed geological modelling.
PhosCo’s Managing Director, Taz Aldaoud, emphasised the significance of these additions: “The new KM and SAB deposits are expected to have a significant impact on early production and cashflow due to their low strip ratios and proximity to the processing plant.” He added that the company is concurrently advancing mine planning and metallurgical test work, both feeding into an updated scoping study slated for release in the third quarter of 2026.
The KM deposit, located at the northernmost extent of the Gasaat permit, features a thick, stratabound phosphorite package up to 56.4 m, hosted within a fault-bounded graben system. Its low strip ratio and shallow depth (typically less than 100 m) enhance its economic appeal. SAB, meanwhile, comprises five fault-bounded sub-basins with mineralisation averaging 5–15 m thickness and strong lateral continuity.
Ongoing Exploration and Project Development Activities
PhosCo is not resting on these laurels. Assay results from drilling at the DOH prospect, where a new phosphate discovery was recently announced, are pending and may further augment the Gasaat resource base. Additionally, the company is planning follow-up exploration at its Simitu copper and base metals project after returning high-grade copper assays from rock chip sampling.
These developments build on PhosCo’s recent drilling successes and resource growth initiatives, including the robust drilling results at KM and SAB that confirmed thick, high-grade mineralisation and the high-grade copper and silver assays at Simitu highlighting potential for base metals expansion.
Mine planning for KM and SAB is prioritised in the upcoming scoping study update, reflecting their favourable mining parameters and contribution to early project economics. Metallurgical testwork is advancing, aiming to optimise processing routes and product specifications, particularly addressing MgO and cadmium levels which are critical for phosphate concentrate quality.
Bottom Line?
PhosCo’s maiden KM and SAB resources materially enhance Gasaat’s scale and economics, but upcoming assay results and metallurgical insights will be pivotal in shaping the project’s next phase.
Questions in the middle?
- How will pending laboratory assays for pXRF-supported drill holes affect local resource classification?
- What metallurgical processing routes will best manage MgO and cadmium levels in KM and SAB concentrates?
- Can the DOH prospect and Simitu copper project deliver further resource growth to complement Gasaat?