Centrex subsidiary Agriflex has secured the new Queensland EPM 28684 in Australia.

The permit is located adjacent to IPL's Phosphate Hill mining lease and Avenir Makatea's Mining Lease Application ML 100379, known as the Korella North Project, in Queensland, Australia.

The EPM lies on the boundary of the prospective Georgina Basin, close to the Rimmer Hill and Rogers Ridge Phosphate deposits owned by IPL.

Agriflex sees potential for a continuation of the prospective Beetle Creek Formation at depth, which could indicate the presence of additional phosphate resources.

Moreover, a significant part of this area is undercover with limited historical drilling, suggesting the possibility of undiscovered mineral deposits.

The Centrex subsidiary is currently engaged in mining and producing high-grade phosphate at Ardmore, located approximately 70km west of the new EPM 28684.

As Agriflex actively seeks additional phosphate mineral resources to potentially support its Ardmore operations, the proximity of the Duchess rail line running through the EPM presents a logistical advantage for any future development.

Centrex views this as an opportunity to further consolidate phosphate resources within the Dajarra region.

In a strategic move, Centrex has also decided to surrender exploration licence EL 32048 following a review of its exploration portfolio.

This decision aims to reduce the costs associated with maintaining the licence, allowing the company to focus on more prospective areas.

In April this year, Lithium Australia signed a memorandum of understanding with Centrex regarding the development a lithium ferro phosphate and lithium manganese ferro phosphate cathode active material manufacturing plant in Australia.