Proactiveinvestors recommends
Additional Information
Market:ASX
Sector:General Mining
EPIC:STB
Latest Price: 0.82  (0.61% Ascending)
52-week High:3.54
52-week Low:0.75
Market Cap:95.89M
1 year chart
digital-look imported chart image
1 day chart
digital-look imported chart image
South Boulder Mines Full South Boulder Mines profile here

South Boulder’s (ASX: STB) flagship project is the world class Colluli Potash Fertilizer Project in Eritrea where mine production of 1Mt p.a. is scheduled for 2016 or sooner from the world's first open cut potash mine.

 

South Boulder also operates the Duketon Project in Western Australia where there is demonstrated potential for gold, nickel sulphide and base metal mineralisation.

Pdf

South Boulder Mines maiden JORC Resource of 102Mt potash at Colluli

Wednesday, January 19, 2011 by John Phillips
South Boulder Mines maiden JORC Resource of 102Mt potash at Colluli

The highly anticipated maiden JORC for the Colluli Potash deposit in Eritrea has arrived, and did not disappoint South Boulder Mines (ASX: STB) shareholders.

The maiden resource breakdown is:

- 548 million tonnes at 18.58% KCl, for a total contained potash of 102 million tonnes; and
- This includes, 119 million tonnes at 23.14% KCl.

Adding some extra spice to the result, the recently increased exploration target has been increased again, and now stands at; 750 million tonnes to 1.25 billion tonnes at 18-20% KCl.

This maiden resource represents the first stage of a mining engineering study into the optimum production capacity from open pit mining.

The study will investigate a range of production scenarios from 1 million tonnes to 10 million tonnes annually.

What adds to the project is the ease of excavation, with the potash resource located between 22 and 65 metres from the surface, with mineralisation open in all directions.

South Boulder said a resource upgrade is already expected after some recent very positive results.

Future production will be relatively straight forward, as all potash is contained within potash minerals, which can be processed using standard techniques.

Drilling will start again later this month, with a second rig to be onsite in February to increase exploration.

A scoping study is expected to be delivered by the company in mid-2011.

Colluli has a close proximity to the coast and has an abandoned railway line running through the deposit.

Eritrea is a country in the Horn of Africa, bordered by Sudan in the west, and Ethiopia in the south.

In morning trade South Boulder is up 19% at $4.19.

 

No investment advice

The Company is a publisher and is not registered with or authorised by the Financial Services Authority (FSA). You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.