PhosCo Confirms Major Phosphate Discovery at Gasaat Project
PhosCo Ltd has unveiled significant drilling success at its Gasaat phosphate project in Tunisia, highlighting a new major discovery at the DOH prospect with substantial phosphate mineralisation and reinforcing Gasaat's emergence as a world-scale resource.
- DOH prospect reveals 13m average phosphate thickness over 1.3km strike
- Outstanding assays from KM and GS prospects support resource growth
- KM deposit maiden resource at 12.0 Mt grading 20.5% P2O5
- Gasaat positioned for global fertilizer supply diversification
- Ongoing drilling and metallurgical testing to refine resource
DOH Prospect Emerges as Significant New Phosphate Discovery
PhosCo Ltd (ASX:PHO) has confirmed a major phosphate discovery at its Gasaat Project in Tunisia, with drilling at the DOH prospect delivering robust assays that underscore its potential to substantially expand the project's inventory and mine life. The phosphate horizon at DOH averages 13 metres thick, stretches over a 1.3-kilometre strike length, and spans more than 600 metres in width, marking it as a sizeable addition to Gasaat's growing phosphate footprint.
The latest drill results show consistent phosphate mineralisation akin to that found throughout Gasaat, with intercepts such as 15 metres at 19.9% P2O5 and multiple sub-intervals exceeding 24% P2O5. Managing Director Taz Aldaoud emphasised DOH's potential to drive growth and its open-ended mineralisation, signalling room for further expansion beyond current drilling.
Strong Support from KM and GS Prospects Bolsters Resource Base
Alongside DOH, PhosCo reported outstanding results from the KM deposit and GS prospect. The KM deposit, recently granted a maiden Mineral Resource Estimate of 12.0 million tonnes at 20.5% P2O5 with an ultra-low strip ratio of 0.4:1, continues to impress with intercepts exceeding 40 metres at around 21% P2O5. Meanwhile, the GS prospect's scout drilling intersected phosphate mineralisation, albeit at greater depths than the project's initial focus for low-strip resources.
These results reinforce Gasaat's status as a world-scale phosphate project, strategically positioned on the Mediterranean coast to offer diversified supply to global fertilizer markets increasingly strained by concentrated sources. The project's sedimentary phosphate deposit is characterised by a consistent geological profile, with a laterally continuous phosphate layer capped by dolomitic limestone, facilitating resource delineation and mining planning.
Advances in Processing and Future Drilling Plans
PhosCo has also made strides in processing technology, developing a simplified single-stage flotation process that promises to reduce costs and complexity, a development that dovetails with the expanding resource base. This streamlined approach removes carbonates and silica simultaneously, potentially enhancing project economics.
Drilling at Gasaat remains active, with infill and extension programs planned to better define mineralisation extents and support upcoming resource estimations. The company is also preparing to mobilise its drill rig to follow up on promising rock chip results at its Simitu Copper/base-metals project, indicating a broader exploration agenda.
Bottom Line?
PhosCo's confirmation of a significant new phosphate discovery at DOH, combined with strong results from KM and GS, positions Gasaat as a growing global phosphate contender amid tightening fertilizer supply chains.
Questions in the middle?
- How will ongoing drilling at DOH influence the scale and timing of resource upgrades?
- What impact will the simplified flotation process have on Gasaat's production costs and margins?
- Could geopolitical factors related to Tunisia affect Gasaat's development and market access?
