Emmerson PLC Grant of Additional Research Permits at Khemisset (1201X)
August 08 2018 - 1:00AM
UK Regulatory
TIDMEML
RNS Number : 1201X
Emmerson PLC
08 August 2018
Emmerson Plc / Ticker: EML / Index: LSE / Sector: Mining
08 August 2018
Emmerson Plc ("Emmerson" or the "Company")
Grant of Additional Research Permits at Khemisset Potash
Project
Emmerson Plc, the Moroccan focused potash development company,
is pleased to announce it has received confirmation from the
Moroccan mining authorities that the Company has been granted 15
additional Research Permits adjoining its 100% owned Khemisset
Potash Project in Northern Morocco ("Khemisset" or "the Project").
To view the press release with the illustrative maps and diagrams
please use the following link:
http://www.rns-pdf.londonstockexchange.com/rns/1201X_1-2018-8-7.pdf
Highlights
-- 11 additional Research Permits granted adjoining Khemisset to the north-east
-- Four additional Research Permits granted adjoining Khemisset to the south-west
-- New Permits cover an area of 239km(2) . Total Khemisset Project area now 815km(2)
-- Desktop geological work indicates potash mineralisation is
likely to continue for some distance to the north-east, including
the area covered by a number of the new permits
-- A JORC-compliant Exploration Target is expected to be
released in coming weeks demonstrating exploration potential for
the area covered by the new permits in the north-east
-- Emmerson will commence planning an extensional drill
programme to test this area, which will likely be carried out as
part of the second drill programme at Khemisset
Hayden Locke, CEO of Emmerson, commented:
"The Khemisset Potash Project already has a large inferred
mineral resource of 311.4 million tonnes @ 10.2% K(2) O, which
covers only a small portion of the broader Khemisset Potash Basin.
Our desktop review of historical geological data indicates that the
potash mineralisation is likely to continue for a number of
kilometres to the north east. We are currently completing an
Exploration Target for this new zone, which will give some context
as to the potential for additional resources for the Project.
"We believe our existing JORC-compliant Resource is sufficiently
large to support a mine life of over 20 years. Additional
mineralisation in this region will only strengthen the overall
fundamentals of the Project and its multi-decade,
multi-generational potential.
"In the meantime, the Scoping Study for Khemisset is well
underway and we're confident of delivering it by the end of Q1
2019. We continue to be excited by Khemisset's potential to be a
low capital cost, high margin, potash project delivering
outstanding returns regardless of the potash price."
**ENDS**
For further information,
please visit
www.emmersonplc.com,
follow us on
Twitter (@emmerson_plc),
or contact: Emmerson Plc Tel: +44 (0) 207 236
Hayden Locke 1177
Edward McDermott
James Biddle Beaumont Cornish Limited Tel: +44 (0) 207 628
Roland Cornish Financial Adviser 3396
Jeremy King Optiva Securities Limited Tel: +44 (0) 3137 1904
Broker
Lottie Wadham St Brides Partners Ltd Tel: +44 (0) 20 7236
Susie Geliher Financial PR/IR 1177
Notes to Editors
Emmerson's primary focus is on developing the Khemisset Potash
Project located in Northern Morocco. The project has a large JORC
Resource Estimate (2012) of 311.4Mt @ 10.2% K(2) O and significant
exploration potential with an accelerated development pathway
targeting a low capex, high margin mine. Khemisset is perfectly
located to capitalise on the expected growth of African fertiliser
consumption whilst also being located on the doorstep of European
markets. This unique positioning means the project will receive a
premium netback price compared to existing potash producers. The
need to feed the world's rapidly increasing population is driving
demand for potash and Emmerson is well placed to benefit from the
opportunities this presents.
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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