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Kore Potash Plc
Summary
| Project: | Kola | |
|---|---|---|
| Deposit: | Kola | |
| Location: | Congo, Democratic Republic Of The | |
| Commodities: | Potash-Magnesium | |
| Date: | 9/11/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 11-9-2017: Kore Potash Plc announces an Exploration/Drilling Update report for its Kola deposit at the Kola project. Drilling results incl. 3.2m @ 54.1% KCI from 297.27m. Perth, Australia, 11 September 2017 - Kore Potash Limited (ASX:K2P) (‘Kore’ or the C | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Andrew Pedley (Internal) | |
| ABSTRACT: | Perth, Australia, 11 September 2017 - Kore Potash Limited (ASX:K2P) (‘Kore’ or the Company) is pleased to provide an update on its ongoing exploration activities at the Company’s 97%-owned Sintoukola Kola Potash Project (‘Kola’), in the Republic of Congo (“RoC”). Two additional intersections have been made, of 52.0 and 54.1 %KCl, 1.5 and 7 kilometres (“km”) south ‘on strike’ of the current Measured and Indicated Sylvinite Resource. The intersections highlight the potential for significant resource expansion and additional areas of Sylvinite of very high grade. “These results are some of the best exploration news to date for Kore. Kola is already amongst the highest grading potash deposits globally with 508 Mt grading 35.4% in the Measured and Indicated categories. The recent drill-holes are a further 1.5 and 7 km south of this resource and demonstrate both the potential to extend the deposit, and that additional areas of 50-60% KCl grading Hangingwall Seam are present. These grades set Kore apart from other global potash deposits. If further exploration is carried out and additional resources and reserves are successfully defined in this area, they may support an increase of the Kola life-of-mine and improvement in operating costs, post DFS”. In February 2017 drilling aimed at defining additional areas of HWSS commenced with the drilling of EK_52, following the earlier success of EK_49 (HWSS of 4.05 m grading 58.9% KCl) drilled in December 2016. EK_52 located west of the deposit (Fig. 2) was unsuccessful. The Company’s geological staff then recognised the presence of the HWSS in old gamma-ray logs for KOU4 and KOU23, holes drilled in the late 1980’s in the area southeast (along strike) from the current Kola resource. These old holes were located in the field and ‘twinned’ by EK_53 and EK_54 respectively. Both of the new holes contain the HWSS of a mineable thickness with a grade of 52.0 and 54.1% KCl, suggesting that the HWSS at Kola extends significantly further south than previously interpreted. This opens up the possibility for significant resource expansion, of the HWSS and also for Sylvinite of the Upper and Lower Seam (the main host seams of the Kola deposit). Available oil-industry seismic data suggests that the hosting evaporite rocks are continuous between the existing Kola resource and the new holes. | |
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