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Kore Potash Plc
Summary
| Project: | Kola | |
|---|---|---|
| Deposit: | Kola | |
| Location: | Congo, Democratic Republic Of The | |
| Commodities: | Potash-Magnesium | |
| Date: | 7/6/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 6-7-2017: Kore Potash Plc announces a Resource Estimation report for its Kola deposit at the Kola project. Updated mineral Resource for the Kola Project. Perth, Australia 6 July 2017 – Kore Potash Limited (ASX: K2P) (‘Kore’ or the ‘Company’), is pleased | |
| Resources: | (Resource, M+I): 507Mt @ 35.4% KCl, 0.07%Mg, 0.14% Insolubles at project | |
| CP/QP: | [Resources]: Garth Kirkham (Met-Chem division of DRA Americas Inc.) | |
| ABSTRACT: | Perth, Australia 6 July 2017 – Kore Potash Limited (ASX: K2P) (‘Kore’ or the ‘Company’), is pleased to provide an updated Mineral Resource Estimate for its flagship asset, the Kola deposit (“Kola” or the “Project”), located on the Company’s 97%-owned Sintoukola Potash Project (SP), in the Republic of Congo (“RoC”) (Fig. 1). The update was completed to provide the basis for the Kola DFS (“Definitive Feasibility Study”) which is underway, as previously announced. Importantly, it confirms the significant size and high grade nature of the Kola deposit. The Mineral Resource estimate was completed by Met-Chem division of DRA Americas Inc., a subsidiary of the DRA Group (Table 1). A large amount of new data was used in the updated Mineral Resource interpretation and estimation. This includes 186km of re-processed seismic data, and six new drill-holes, for a total of 52 drill-holes. “We are delighted to report that the updated Kola Mineral Resource estimate has confirmed the deposit is truly world-class. A significant amount of new data and interpretation has been incorporated into the new resource, which with a materially higher overall KCl grade, forms a strengthened foundation for the upcoming Definitive Feasibility Study. With more than half a billion tonnes of Sylvinite, Kola should support a long life-of-mine and at a grade of over 35% KCl, the deposit remains on a par with the world’s highest grading operating potash mines. We anticipate that this, coupled with the advantages offered by Kola’s location, shallow depth, seam thickness and continuity, will allow Kore to realise promising results from the DFS that is currently underway and due for completion in Q2 2018. Furthermore, Kola remains open laterally in most directions, creating further opportunity for expansion.” | |
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