Chatham Rock Phosphate Limited has announced the maiden Mineral Resource estimate for its Korella North Phosphate Property in Queensland, Australia.
The estimate, prepared by independent consulting firm Derisk Geomining Consultants, includes indicated and inferred mineral resources.
The property is located in the northwest corner of Queensland and is part of the Georgina Basin.
The company plans to investigate the potential for open pit mining and on-site beneficiation to produce a phosphate product for sale.
However, further work is needed to assess the factors necessary to convert the indicated mineral resources into mineral reserves.
The company also plans to apply for a mining lease for the eastern side of the property.
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