PhosCo Completes Drilling at SAB, Resource Update on the Horizon

PhosCo has successfully completed a targeted resource drilling campaign at the SAB Prospect, part of its wholly owned Gasaat Phosphate Project, marking an important step toward expanding the project’s resource base and improving its overall development outlook. The recently finished program reinforces the geological potential of SAB and positions the company to deliver its first mineral resource estimate for the prospect, which is expected to play a meaningful role in future project evaluations.

The completed drilling program comprised six reverse circulation holes for a total of 431 metres, designed specifically to support resource definition at SAB. Phosphate mineralisation was intersected in five of the six holes, confirming both continuity and thickness across the target area. Notable intersections included 21 metres from 53.7 metres depth, 18 metres from 47.5 metres, and 13.5 metres from 63.5 metres, results that point to robust phosphate horizons capable of underpinning a maiden resource. Laboratory assay results from the SAB drilling are anticipated in January 2026 and are expected to form the basis of the first formal resource estimate for the prospect.

Alongside the SAB progress, PhosCo continues to advance work at its high priority KM discovery within the same project area. Assay results from KM are due imminently, while trenching activities have already commenced to further define near-surface mineralisation. These efforts are aimed at supporting a maiden resource estimate at KM, which the company is targeting for early 2026. Together, the SAB and KM prospects represent key growth areas within the Gasaat Phosphate Project and are expected to materially enhance the scale and quality of the project’s mineral inventory.

Managing Director Taz Aldaoud noted that the drilling success at SAB, combined with the ongoing advancement at KM, has the potential to significantly improve upfront project economics. He highlighted that maiden resource estimates from both areas will feed directly into an updated Scoping Study planned for the first half of 2026, ahead of more advanced technical and economic assessments such as a bankable feasibility study.

From a broader perspective, the continued delineation of phosphate resources at Gasaat strengthens the project’s strategic importance, particularly as global demand for fertiliser inputs remains resilient. For Africa’s mining sector, developments like SAB and KM underscore the role of phosphate projects in supporting agricultural productivity, attracting investment, and contributing to downstream economic growth. If successfully advanced, these resources could enhance regional supply chains, improve project viability, and reinforce Africa’s position as a key player in the global phosphate market.

Mini-Glossary

• Reverse Circulation Drilling: A drilling method commonly used in mineral exploration to collect rock samples efficiently for analysis.
• Phosphate Intersections: Sections of drill core or samples where phosphate-bearing rock is encountered.
• Maiden Resource Estimate: The first formal calculation of the size and grade of a mineral resource at a prospect.
• Scoping Study: An early-stage technical and economic assessment that evaluates the potential viability of a mining project.
• Bankable Feasibility Study: A detailed study used by financiers to decide whether to fund the development of a mining project.

Editor: Vural Burç ÇAKIR