25 November 2013 21:58 [Source: ICIS news]
HOUSTON (ICIS)--Eagle Star Minerals is getting favourable results from the first phase of drilling tests at its Santiago phosphate exploration site in Brazil, the Canadian fertilizer developer announced on Monday.
The Santiago site consists of 6,947 hectares (17,153 acres) along the main phosphate sector of Brazil and is adjacent to Eagle Star's other holdings within the booming agriculture region of Cerrado.
Company officials have touted its value as a highly prospective area for hosting high-grade phosphate mineralisation.
The reverse circulation drilling program has completed 23 holes at this time, Eagle Star said, with an additional 137 planned in order to designated the scope of the future production of phosphate fertilizers.
Testing has shown substantial reserves of the crop nutrient are accessible within the Santiago holdings.
“It is now very clear to us that the Santiago target which we have held in such high regard since day one indeed holds significant potential for our shareholders," said Eran Friedlander, president Eagle Star. "By removing the thick vegetation that covered this target, we have exposed a very large outcrop of high-grade phosphorite, the largest we have seen on any of our targets to date."
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