Kore Potash PLC (LON:KP2) has released details of the first mineral resource estimate (MRE) for the Dongou Extension Deposit at its Sintoukola (Kola) Potash project in the Republic of Congo.
The AIM-listed potash miner, which owns 97% of Kola, said the total mineral resource of sylvinite, an important source of potash, at the Dongou extension was 232mln tonnes of sylvinite grading at 38.1% sylvite (KCl), taking the total mineral resource of the entire Kola project to around 1bn tonnes.
Kore added that the resource had the potential to provide additional feed to increase the processing life of the Kola project, while also having potential to increase the scale of the Kola project, although these options would be reviewed following the completion of a definitive feasibility study at Kola.
Brad Sampson, chief executive of Kore Potash, said the mineral resource estimate at Dougou “brings a third deposit within our permits in the Republic of Congo, and reinforces our view that this new basin hosts large globally important, shallow, and high-grade potash deposits”.
He added that the new deposit created “potential for sylvinite from Dougou Extension to be processed at the planned Kola facility and provides yet more evidence that the start of production from this world-class basin will be a disruptive force in the fertiliser sector for decades to come”.
In mid-morning trading Monday, Kore Potash shares were up 2.7% at 4.6p.