PhosCo Receives Approval for Ras Ghzir Lead-Zinc Research Permit in Tunisia

PhosCo Ltd (ASX: PHO) has successfully secured the Ras Ghzir Lead-Zinc research permit, marking a significant milestone in its endeavors. The permit, which was applied for in July 2022, has been granted after meticulous consideration. The Ras Ghzir prospect, conceived by PhosCo and identified by the Tunisian geology team, holds promising potential for lead-zinc exploration.

Furthermore, PhosCo has received notification that the Consultative Committee for Mine (CCM) is set to review its application for the Sekarna Phosphate research permit in the near future. The Tunisian Mining Code necessitates separate permits for Phosphate and Base Metals, with the Ras Ghzir permit covering base metals within the Sekarna phosphate application. This strategic move aligns with PhosCo's commitment to diversifying its portfolio and maximizing exploration opportunities.

The historical significance of the Ras Ghzir region dates back to the early 1900s when zinc mineralization was first discovered at Sekarna. Subsequent prospecting efforts culminated in mining activities commencing in 1922, continuing until 1948. During this period, substantial quantities of zinc mineralization, including sphalerite and calamine, were extracted, underscoring the region's mineral-rich potential.

The structural geology of the area, characterized by north-northwest-oriented faults, has played a pivotal role in the formation of Mississippi Valley Type (MVT) zinc-lead-barite mineralization. These fault systems, along with karst/breccia collapse infill and disseminations, have contributed to the geological complexity of the region.

PhosCo is poised to leverage historical exploration data from 2007 and 2008 to guide future exploration endeavors aimed at delineating the extent of base metal mineralization. Additionally, the company plans to conduct comprehensive mapping and geochemical sampling activities to gain deeper insights into the lead-zinc overprint at the Ras Ghzir Project.

Notably, zinc production at Sekarna was primarily derived from two main mines, Saint Pierre and Saint Eugene, each exhibiting distinct mineralization characteristics. While Saint Pierre showcased predominantly sphalerite mineralization hosted by phosphorite, Saint Eugene featured non-sulphide zinc deposits within dolomitic limestone caprock.

Moving forward, PhosCo will focus on conducting sighter metallurgical tests to assess the feasibility of producing separate commercial base metal and phosphate concentrates from the Ras Ghzir Pb-Zn and P mineralization. This marks a crucial step towards unlocking the full economic potential of the region's mineral resources.

In conclusion, the granting of the Ras Ghzir permit represents a significant achievement for PhosCo, reflecting the company's commitment to expanding its footprint in the mining sector. With meticulous planning and strategic execution, PhosCo aims to unlock the value of the Ras Ghzir region while adhering to the highest standards of environmental stewardship and sustainable resource management.