South Boulder Mines (ASX: STB) continues to deliver stellar results from the Colluli potash project in Eritrea, with the latest discovery 10 kilometres along strike providing some top results.
South Boulder said preliminary geological logging of all the holes has indicated that the sylvinite (KCl) mineralisation appears to be very similar to high grade intervals identified at the Colluli Resource, where grades up to 44% KCl have been intersected.
The latest results include:
- 9.43 metres of kainitite from 31.51 metres;
- 9.17 metres of kainitite from 41.93 metres;
- 7.04 metres of kainitite from 90.94 metres;
- 5.51 metres of sylvinite from 35.70 metres and;
- 5.04 metres of carnallitite from 85.90 metres.
Further definition and extensional drilling at the new area is planned to resume soon after Easter, with the proposed hole locations to initially explore a priority area of 20 square kilometres.
The company said it expects the new discovery will significantly enhance the Colluli project economics, which are currently under a Scoping Study, and will then become part of the full Feasibility Study.
The current JORC Resource breakdown at Colluli 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.
The exploration recently target increased to; 750 million tonnes to 1.25 billion tonnes at 18-20% KCl in early 2011.