Harvest Minerals Limited (LON:HMI) announced that an independent indicated mineral resource estimate has been completed at its 100%-owned Arapua Fertilizer Project in Minas Gerais State, Brazil.
The group said an air core drilling programme revealed higher grade K2O and P2O5 zones, providing “more than enough” material for it to commence trial mining and develop the product over the coming months.
The resource estimate, based on an air core drilling programme of only the weathered kamafugite, is JORC 2012 Compliant and part of an on-going technical report being compiled by GE21 Consultoria Mineral.
The group has conducted a drilling programme over an area covering around 3% of the known mineralization not including the unweathered kamafugite underlying the resource.
The limited scope programme was to conserve cash and only identify sufficient resource for the immediate future, said the group.
"With this aim in mind we have already started a scoping study to delineate the potential economics of the project, requested quotes from potential contractors, started test work on defining our initial product and applied for a trial mining permit,” said executive chairman Brian McMaster.
“We will update shareholders as results are received as we develop into a significant South American fertilizer company."