PhosCo Ltd. announced asignificant increase in confidence of its Mineral Resources Estimate (MRE) at the GK prospect at Chaketma in Tunisia. Independent consultancy Arethuse Geology has estimated Indicated and Inferred Mineral resources for GK of 90.9 million tonnes at a grade of 20.2% P2O5 in accordance with JORC (2012) guidelines and with 83.7Mt at 20.2% P2O5 Indicated. No cut-off was applied on P2O5 grade for this Mineral resource statement, but the estimate is based on 10% P2O5 grade shells with very limited dilution. The conversion of 90% of the 2013 MRE from Inferred to Indicated is a significant milestone in the advancement of the Chaketma project. There was a slight loss of tonnes (2Mt) due in part to the additional 21 drill holes and use of high-resolution LiDAR
generated topographic control that accurately constrained the limit of the outcropping phosphate horizon. The previously published maiden MRE of 93Mt at 20.2% P2O5 for GK announced on the 18 June 2013 was entirely in the Inferred category (as estimated by independent consultancy Geos Mining). The revised global MRE for Chaketma provides a resource base that is likely to support a long-life, large-scale project. The Scoping Study announced on 14 August 2012 is being updated and is due for release shortly. Global resources at Chaketma now stand at 146.4Mt at 20.6% P2O5, with 55Mt at 21.1% P2O5 at KEL (March 2022) and a further 91Mt at 20.2% P2O5 at GK. Only 5% of the resources are classified as inferred and only 2 of the 6 prospects adequately drill-tested. Further drilling will only add to this resource base. The Chaketma resource is the only phosphate resource controlled by an ASX listed company in the North African/Middle Eastern phosphate mega-province. The improved confidence in the GK MRE Resource provides a strong basis for technical and financial assessments of the project.