PhosCo has expanded the DOH prospect and hit phosphate mineralisation at Sekarna North in Tunisia’s Northern Phosphate Basin, ahead of a maiden Mineral Resource Estimate and updated Gasaat scoping study.
PhosCo Ltd (ASX: PHO) has reported further drilling success at its Gasaat Phosphate Project in Tunisia, expanding the DOH prospect and making a new discovery at Sekarna North, the ASX-listed company said.
The results support PhosCo’s strategy to build a district-scale phosphate operation close to existing prospects in Tunisia’s Northern Phosphate Basin. Diamond drilling at DOH intersected additional phosphate zones ahead of a maiden Mineral Resource Estimate, which is expected to bolster Gasaat’s resource base and extend mine life.
Early scout drilling at Sekarna North also hit phosphate mineralisation, reinforcing PhosCo’s ambition to create a world-scale fertiliser hub as global fertiliser markets face growing supply pressures.
The ongoing drilling campaign, together with an updated Gasaat Scoping Study due this month, is set to refine project optimisation and scale. PhosCo said the developments underline its efforts to enhance its industry positioning as a key future supplier of phosphate, with potential benefits for regional development and stakeholders tied to fertiliser supply chains.
About PhosCo
PhosCo Ltd is an ASX-listed resources company focused on developing phosphate deposits in Tunisia’s Northern Phosphate Basin. Its flagship Gasaat Phosphate Project targets production of phosphate for use in global fertiliser markets, positioning the company to benefit from tightening supply and rising demand for fertiliser feedstock worldwide.
The company has a current market capitalisation of A$89.23m and an average trading volume of 162,815 shares. Its shares trade on the ASX under the ticker PHO.
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