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Sirius Minerals says latest drill results underline quality of York Potash

Published: 16:43 25 Sep 2012 AEST

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Latest drill results from its York Potash project have provided further evidence of the extent and quality of the resource, Sirius Minerals (LON:SXX) said today.

A deflection from the SM7 borehole indicated continuity of its thick shelf seam with an estimated 54m of high grade 92.4% polyhalite.

This correlated with the shelf seam previously encountered at SM7 and also at SM2, 3, 4 and 6, Sirius said.

Polyhalite is a rich mix of minerals comprising potassium, sulphur, magnesium, and calcium.

Sirius’s York project, between Scarborough and Whitby, has the world’s largest polyhalite resource at 1.35 bln tonnes and the highest grades at an average 88%.

Sirius said that a second deflection from hole SM7 supported the geological model that predicts overlapping seams in parts of the transition zone.

Assay results from the SM6 bore hole had also confirmed high grade potassium mineralisation over 4 km south west from the SM3 hole, it added.

Chris Fraser, Sirius’s managing director, said the results continued to build confidence in the project and that resource definition drilling is now near its conclusion.

“Our consultants continue to progress modelling and analysis of the drilling and seismic results, and we are working to provide an upgraded resource statement in the near future," he said.

 

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