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Salt Lake Potash returns above modelled average potassium grades from Lake Way harvest ponds

A bulk sample of Harvest Salt from the Stage 1 Kainite Ponds was collected to assess plant feed grades and produce mass samples of premium quality SOP for end-users.

Salt Lake Potash Ltd - Salt Lake Potash Lake Way Project harvest ponds sample shows above modelled potassium grades
The bulk sample was collected from Kainite Pond 1, Cell C4

Salt Lake Potash Ltd (ASX:SO4) (LON:SO4) (OTCMKTS:WHELF) chemical analysis on a bulk sample from the Kainite harvest ponds at its Lake Way Sulphate of Potash (SOP) Project has revealed potassium grades above the modelled average.

The 277-kilogram sample has demonstrated the presence of potassium salts kainite and schoenite (as modelled) with a potassium concentration of 7.5%, above the modelled assumed plant feed of 6.8%.

Sulphate concentration of 20.9% also matched expectations and results from sodium and magnesium align with the anticipated plant feed grade.

Project further de-risked

Chief executive officer Tony Swiericzuk said: “These positive results confirm our Stage 1 ponds are operating within design parameters and are producing high-grade potassium feed salts which can be converted to premium quality SOP.

“Following the strong results from pumping our first brine abstraction bore reported last week, today’s results further highlight the extent to which the Lake Way Project and our on-lake production process has been de-risked over the last 12 months.”

Harvest salts collected for chemical analysis.

Further test work underway

Having confirmed that the chemical composition of the bulk sample aligns with SO4’s modelling and the grades are within the expected ranges; the remainder of the bulk sample will be shipped to Canada for confirmatory test work.

Further samples of premium high-grade SOP will be generated to provide to offtakers.

Early process plant construction work has begun and the Lake Way project remains on schedule with commissioning expected to begin in December 2020 and first production in the first quarter of 2021.

Shares are up slightly today to $A0.55 and have climbed from A$0.325 on April 30.

Quick facts: Salt Lake Potash Ltd

Price: 33.5 GBX

AIM:SO4
Market: AIM
Market Cap: £118.35 m
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