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Goldphyre Resources Ltd.
Summary
| Project: | Lake Wells | |
|---|---|---|
| Deposit: | Lake Wells | |
| Location: | Australia | |
| Commodities: | Potash | |
| Date: | 6/29/2016 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 29-6-2016: Goldphyre Resources Ltd. announces a Resource Estimation report for its Lake Wells deposit at the Lake Wells project. Initial mineral resource estimate for Lake Wells Potash Project. Goldphyre Resources (ASX: GPH) is pleased to advise that it i | |
| Resources: | (Resource, Inf.): 70Mt SOP @ 8.05 kg/m3 (total porosity) or 18.4Mt @ 8.05 kg/m3 (specific yield) | |
| CP/QP: | [Resources]: Jeffery Lennox Jolly (AQ2) | |
| ABSTRACT: | Goldphyre Resources (ASX: GPH) is pleased to advise that it is firmly on track to become a long-term potash supplier to the Australian agricultural industry following the calculation of a strong Maiden Resource for its 100% owned/controlled Lake Wells Potash Project. In light of this strong Maiden Resource, Goldphyre will now embark on a strategy to accelerate development of the Lake Wells Potash Project by installing test production bores and establishing both laboratory and field-based evaporation trials. This work will form part of a wider development study on the Lake Wells Potash Project. Goldphyre Executive Chairman Matt Shackleton said the total dependence of Australian agriculture on imported potash, the logistical advantages enjoyed by Lake Wells and the size and grade of Goldphyre’s Maiden Mineral Resource were all factors that governed the decision to accelerate the development strategy. “We took a risk in pursuing the depth extensions to the potash mineralisation at Lake Wells,” Mr Shackleton said. “The reward for our shareholders is that we now have a JORC Resource which delivers substantial scale and gives us extremely strong foundations on which we can advance Lake Wells. “Uniquely, Lake Wells has a highly desirable combination of a strong JORC resource, is amenable to a proven technology for brine abstraction, and has numerous logistical advantages, including access to existing infrastructure. “Given these factors, we are highly confident we can advance Lake Wells quickly and take full advantage of the outstanding opportunity we have to create value for Goldphyre shareholders.” | |
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