PHOSPHATE AT CORELLA BORE Recent research by Krucible of work previously performed by Mines Exploration P/L (MEX) in 1966�]68, has indicated possible ore grade phosphate on or close to Krucible's Corella Bore EPM 15572 (see Figure 1). The Phosphate Hill Mine (located 150 km SSE of Mt Isa) is one of the world's largest producers and is operated by Incitec Pivot Ltd. Surface sampling by MEX at the D10 prospect (located about 11.5km north of Phospate Hill) returned 23m @ 12.5% phosphate(P2O5), including 2m @ 26% P2O5 �] this is within EPM 15572. Drilling at Phosphate South by MEX returned up to 7m @ 26% P2O5 �] this area is approximately 500m from the Krucible Corella boundary. The reserve ore grades at Phosphate Hill are quoted at around 23%. Krucible intends to carry out investigations of phosphate potential, particularly in areas where the host Cambrian sediments (Beetle Creek Formation & Monastery Creek Group) are known to occur in Krucible ground. It is believed that these recent developments may significantly add to the value of the Krucible's diverse portfolio in the coming year.
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