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Cohiba Minerals Ltd.
Summary
| Project: | Pyramid Lake | |
|---|---|---|
| Deposit: | Pyramid Lake | |
| Location: | Australia | |
| Commodities: | Gypsum | |
| Date: | 11/26/2018 | |
| Report Code: | JORC | |
| Report Type: | Scoping Study | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 26-11-2018: Cohiba Minerals Ltd. announces a Scoping Study report for its Pyramid Lake deposit at the Pyramid Lake project. Scoping study results incl. AUD $1.2M Capex, 10+ yr LOM at the project. Cohiba Minerals Limited (ASX:CHK) (‘the Company’ or ‘Cohiba | |
| Resources: | (Resource): 1.3Mt @ 78% Gypsum (Ind.), 2.6Mt @ 67% Gypsum (Inf.) | |
| CP/QP: | [Resources]: Murray Brooker (Hydrominex Geoscience Pty Ltd.) | |
| ABSTRACT: | Cohiba Minerals Limited (ASX:CHK) (‘the Company’ or ‘Cohiba Minerals’) is pleased to announce that following a recent resource estimate it has completed a scoping study which demonstrates the potential for robust, profitable, long-term sales from its Pyramid Lake Gypsum deposit in Western Australia. Cohiba is pleased to announce that following a recent resource estimate it has completed a scoping study which demonstrated the potential for robust, profitable, long-term sales from its Pyramid Lake Gypsum deposit. Cohiba Minerals Limited holds (100%) exploration licence E74/594, which covers all of Pyramid Lake in southwestern Western Australia, for a total of 11,266 hectares or 112.66 km2 . Pyramid Lake itself is a relatively saltlake covering 6,632 hectares located 115 kilometres northwest of the town of Esperance on the northern limit of the agricultural area (Figure 1). The scoping study showed that the uses for gypsum go well beyond the amelioration of sodic soils to include the amelioration of transient salinity, aluminium toxicity and calcium and sulphur deficiencies in subsoils, thereby markedly increasing its market potential. In addition, the study showed that gypsum markedly improved water use efficiency (WUE) in responsive soils with 5 to 10 t/ha of gypsum increasing yield potential up to 85%, meaning that crop returns increased by almost $200 /ha over a 4-year period. The economics around these major agricultural issues were such that the Pyramid Lake gypsum can be readily applied to a broad geographic area which includes the southern portion of the Goldfields-Esperance region, through to the eastern-most portion of the Great Southern and Wheatbelt regions. A production scenario was established for the Pyramid Lake gypsum which showed the potential for a 9-year model to deliver a Net Present Value (5% discount rate) of $33.2 million and an Internal Rate of Return (IRR) of 104.7%, demonstrating the robustness of the project. | |
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