Toronto-MBAC Fertilizer Corp. said Jan. 19 that it has received positive drilling results from ongoing phosphate exploration work at the Santana project in the southern Para State, Brazil. The results from the first drill hole produced an average grade of 17 percent P2O5 for the first 27 meters, which is consistent with the company’s expectations. “The prospect of a potentially large-scale phosphate project with high grade material is extremely exciting,” said Antenor Silva, MBAC president and CEO. “This project is strategically positioned in close proximity to extensive farm land in the northern Mato Grosso State of Brazil, one of the largest grain producers in Brazil and one of the fastest growing agricultural frontiers in the world.” MBAC say the licensed area, covering 90,000 hectares, has had exploration consisting of rock chip sampling with encouraging results, including numerous occurrences with readings in excess of 30 percent P2O5.
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