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Salt Lake Potash Ltd.
Summary
| Project: | Lake Wells | |
|---|---|---|
| Deposit: | Lake Wells | |
| Location: | Australia | |
| Commodities: | Potash | |
| Date: | 8/29/2016 | |
| Report Code: | JORC | |
| Report Type: | Scoping Study | |
| Project Stage: | Pursuing Pre-Feasibility Study | |
| Report details: | 29-8-2016: Salt Lake Potash Ltd. announces a Scoping Study report for its Lake Wells deposit at the Lake Wells project. Scoping study results incl. estimated cash production costs of A$185/t (Stage 2). Salt Lake Potash Limited (Salt Lake, SO4 or the Compa | |
| Resources: | (Resource, total): 24,723Mm3 @ 8.74kg/m3 SOP (K2SO4) for 80-85Mt SOP | |
| CP/QP: | [Resources]: Ben Jeuken (Groundwater Science Pty Ltd.) | |
| ABSTRACT: | Salt Lake Potash Limited (Salt Lake, SO4 or the Company) is pleased to announce the results of a Scoping Study on the Company’s Lake Wells Sulphate of Potash (SOP) Project (the Project) in Western Australia. The Project’s economics are highly encouraging, highlighting its potential to produce low cost SOP by solar evaporation of lake brines for domestic and international fertiliser markets. The Lake Wells Project is located in the Northern Goldfields of Western Australia approximately 200 km north of Laverton. The area is well served by existing infrastructure, including the Great Central Road, the Goldfields Highway, the Goldfields Gas Pipeline and the railway sidings at Malcolm and Leonora. Salt Lake has undertaken extensive drilling, sampling and geophysical surveys at Lake Wells since acquisition in mid-2015, to understand the geological setting and define brine resources within the Lake Wells Playa. A Scoping Study was initiated in early 2016 to investigate the technical and economic parameters of a SOP production operation at Lake Wells, exploiting the identified brine resources. The Scoping Study is based on the Project’s Mineral Resource Estimate of 80-85 Mt of SOP in 9,691 GL of brine at an average of 8.7 kg/m3 of K2SO4. The Mineral Resource Estimate includes Measured and Indicated Resources of 26 Mt of SOP in the shallowest 20m of the Lake. Commenting on the completion of the Scoping Study, CEO Matt Syme: “We are very pleased with the Scoping Study results, which confirm Lake Wells’ as a potential lowest cost quartile SOP producer. This Study highlights Lake Wells relative advantages based on a large consistent resource, potential for brine extraction by both surface trenching and pumping the deeper paleochannel aquifer, and of course the locational advantages of access to the gas pipeline and transportation infrastructure.” | |
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