Sign up Australia
Proactive Investors - Run By Investors For Investors

Elemental Minerals maiden drilling hits shallow high grade potash in Congo

With drilling results including the highest grades yet at the Kola Prospect at a time of rising global demand for the fertiliser, Elemental is on track to developing a substantial, potentially low cost sylvinite producer.
Elemental Minerals maiden drilling hits shallow high grade potash in Congo

Elemental Minerals (ASX: ELM) has intersected additional shallow high grade potash at the Kola Prospect in the Republic of Congo, extending the shallow mineralization.

Shallow sylvinite intersections include:

- EK_13: 3.39 metres at 22.69% potassium oxide (K2O) (36.01% KCl) from 246.25m and 3.73m at 34.47% K2O (54.72% KCl) from 258.74m;
- EK_14: 4.04m at 23.62% K2O (37.49% KCl) from 294.71m, including 2.82 at
26.27% K2O (41.70% KCl) from 296.23m; and
- EK_15: 3.97m at 24.25% K2O (38.50% KCl) from 265.83m including 2.95m at
26.44% K2O (41.92% KCl) from 266.85m.

Sylvinite is the most important ore for the production of potash. The latest results exceed grade expectations and continue to bolster confidence, not only the targeted tonnages, but also demonstrate the potential lateral extent of the Kola target mineralisation.

The results underpin the company's continued aggressive drilling program and is now set to drill into phase 2 on the Sintoukola potash project in Central Africa.

Potash mineralisation has been further extended to the west and still remains open laterally in most directions.

Importantly, these results provide a launch pad for the company to commence the Phase 2 infill and step-out drill program to define potash mineralisation beyond the Phase 1 target. Phase 2 is planned to commence at the end of April 2011.

The extension of the current mineralised footprint and the fact that the Kola grid is open in most directions, points to the potential for a very large exploration target on the property and the next drilling phase will aim to further test the exploration upside.

Elemental is bullish that its initial exploration target of between 170 million tonnes (Mt) and 300Mt of sylvinite grading between 23.1% and 23.5% K2O (36.67% KCl and 37.30% KCl respectively) will be achieved.

The mineralisation may be present across an area of approximately 3km by 9km.

Elemental is on track to define relatively high-grade, shallow sylvinite mineralisation with a view to developing a substantial, potentially low cost sylvinite producer.

The company’s objective to advance the project through the Definitive Feasibilty Study (DFS) stage and to production in 2015 remains on target.

The drilling program falls within the 1436.5 km2 Sintoukola Licence area, located 56 kilometres north of Pointe Noire.

To provide an insight into the re-rating of potash companies recently, Fortis Mining (ASX: FMJ) this week hit $3.98, compared to just $0.21 three months ago, with South Boulder Mines last week trading to $6.25, up from $0.26 just one year ago.

The phase 2 program will consist of 25 exploration holes, a proportion of which will be utilised to infill drill the current mineralised footprint for resource upgrade purposes and the balance to extend the mineralisation on the current grid which is open laterally.

Ten of the 25 holes will also serve as metallurgical drill holes required for the previously announced definitive feasibility study (DFS) which is to start shortly.

An additional 12 exploration holes for 4200m are planned to test the lateral extension of the Kola mineralisation and also the extent of potash mineralisation on the broader 1436.5 km2 Sintoukola Licence as indicated by the previously completed historical drilling.

View full KP2 profile View Profile

Kore Potash Timeline

Related Articles

reverse circulation drill rig
August 10 2018
The near-term goal at Garden Gully is to deliver a maiden JORC resource.
1523390152_MawsonTruck.jpg
April 11 2018
The group kicked off, in January, a 15,000m winter drill program at Rajapalot
Tomingley gold open pit operation
March 27 2018
The Dubbo Project hosts zirconium, hafnium, niobium, tantalum, yttrium and rare earth elements.

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) 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 understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

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.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use