Australian-listed mining company PhosCo has reported the discovery of phosphate mineralization at the DOH prospect within its Gasaat project in Tunisia, according to a filing released Wednesday on the Australian Securities Exchange.
Drilling results included intersections of up to 12.5 metres grading more than 20% phosphorus pentoxide (P₂O₅) from a depth of 93.3 metres, including higher-grade intervals of 2.4 metres at over 23% P₂O₅ from 95.3 metres and 3 metres at approximately 25% P₂O₅ from 99.7 metres.
The company said the phosphate-bearing horizon was encountered at an average thickness of 13 metres, extending over a strike length of 1.3 kilometres and a width exceeding 600 metres. Recent drilling campaigns also delivered results from the KM deposit and the GS prospect.
Following the announcement, PhosCo shares gained nearly 3% in Wednesday trading, reflecting positive investor sentiment toward the exploration results.
