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Karnalyte Resources Inc.
Summary
| Project: | Wynyard | |
|---|---|---|
| Deposit: | Wynyard | |
| Location: | Canada | |
| Commodities: | Potash | |
| Date: | 7/15/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 15-7-2016: Karnalyte Resources Inc. announces a Resource Estimation report for its Wynyard deposit at the Wynyard project. Updated mineral resource and ore reserve estimate for Wynyard Carnallite project. Karnalyte Resources Inc.’s (KARNALYTE) holds the S | |
| Resources: | ||
| CP/QP: | [Resources]: Lola Piche (North Rim Exploration Ltd.) | |
| ABSTRACT: | Karnalyte Resources Inc.’s (KARNALYTE) holds the Subsurface Mineral Leases KL 246 and KL 247 and KLSA 010 near Wynyard, Saskatchewan, Canada and plans to become a producer of high quality potash using an established solution mining process. The focus will be to market high purity spherical granular potash pellets initially into the North American markets and ultimately worldwide. KARNALYTE’s spherical granular potash pellets offer a grade advantage (97%) and significantly lower sodium content (less than 1%) over typical granular products. The spherical granular potash products offer uniform size distribution which leads to better handling, storage, bulk blending and spreading characteristics. The brine used for production of these potash pellets will be mined using proven solution mining technology from underground potash beds and proven processing methods at the surface production facility. The changes in management of KARNALYTE in 2014 and 2015, and the press release of the former management stating that the Wynyard Carnallite Project no longer is considered a material mineral property of the corporation, which has been contradicted by the present management, makes an update of the previous estimate for KCl and MgCl2 Mineral Reserves (ERCOSPLAN et al., 2012, /22/) necessary, as the boundary condition that where the basis of the original potash feasibility study (FOSTER WHEELER & ERCOSPLAN, 2011, /26/) and Mg-products pre-feasibility study (LYNTEK, 2012, /38/) have changed significantly. Therefore KARNALYTE has requested end of March 2016 ERCOSPLAN, NREL and AmecFW, to update the cost sections of their studies, to come up with new estimates for CAPEX and OPEX and evaluate the financial viability of the project at present product price forecasts to determine the Mineral Resources and Mineral Reserves in KARNALYTE’s Lease Areas. The results of these studies are summarized in this Technical report. | |
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