Salt Lake Potash Limited Project update (5528C)
April 18 2017 - 1:00AM
UK Regulatory
TIDMSO4
RNS Number : 5528C
Salt Lake Potash Limited
18 April 2017
18 April 2017 AIM/ASX Code: SO4
SALT LAKE POTASH LIMITED
The following information was released on the ASX earlier today:
Salt Lake Potash's Projects Now Comprise Nine Salt Lakes Totalling over 4,750km(2)
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The Directors of Salt Lake Potash Ltd (SLP or the Company) are
pleased to advise that a number of recent Exploration Licence
Applications have taken the Company's total holdings in the
Goldfields mining district in Western Australia to a total of 9
complete or partial salt lake playas, all with proximity to vital
infrastructure - the Goldfields Highway, the Kalgoorlie-Leonora
rail line and the Goldfields Gas Pipeline.
The combined SOP Projects now comprise over 4,750km(2) of
Exploration Permits and Applications. Collectively these lakes form
the Company's Sulphate of Potash (SOP) Project, which will now be
known as the Goldfields Salt Lakes Project.
All lakes within the Project are at least 200km(2) each in
surface area and have a large, flat and relatively bare surface
playa for potential evaporation pond construction.
The initial focus of the Goldfields Salt Lakes Project has been
on Lake Wells, which has a playa surface of approximately 440km(2)
. The Scoping Study released in August 2016 (see ASX announcement
dated 29 August 2016) highlighted the outstanding potential
economics of extracting hypersaline brine by trenches AND bores for
solar evaporation of salts and processing to produce premium SOP.
The Scoping Study indicates Lake Wells would be firmly in the
lowest cost quartile for any SOP Project in Australia and around
the world, with relatively low transport costs being a major
advantage.
While proceeding with a Pre-Feasibility Study (PFS) for Lake
Wells, the Company has also begun exploring the other lakes in the
Goldfields Salt Lakes Project, starting with Lake Irwin and Lake
Ballard. Initial evaporation trials of brines from these Lakes
indicate they are both suitable for production of potassium and
magnesium sulphate salts for processing into SOP as well as
potentially valuable co-products.
To date only reconnaissance work has been undertaken on the
other 6 lakes in the Project and comprehensive surface brine
sampling and initial exploration is planned for each of them over
the course of this year.
The 9 lakes which comprise the Goldfields Salt Lakes Project
have been selected for:
-- scale and potential brine volume;
-- known hypersaline brine characteristics;
-- potential for both shallow trench extraction and from deeper paleochannel aquifer bores;
-- large playa surface for cost-effective evaporation pond construction; and
-- critically, proximity to the vital transport and energy
infrastructure and mining and engineering expertise associated with
the major mining centre that is the Western Australian
Goldfields.
While all of the lakes comprising the Goldfields Salt Lakes
Project share the advantage of their location in the WA Goldfields,
it is worth noting that several of the lakes are even closer to
rail transport and the gas pipeline than Lake Wells. For example,
Lake Ballard and Lake Marmion are located either side of the
Goldfields Highway, gas pipeline and rail line, only 140km from the
major mining service centre of Kalgoorlie.
There is substantial potential for integration, economies of
scale and overhead sharing in the Project due to the number of
highly prospective lakes. The flexibility of multi-lake production
is also appealing for a natural production process which is subject
to climate variability.
The Company will study these advantages more closely as it
progresses the Goldfields Salt Lakes Project.
For further information, including a map of the Goldfields
Project locations, please visit www.saltlakepotash.com.au or
contact:
Matt Syme/Sam Cordin Salt Lake Potash Limited Tel: +61 8 9322 6322
Colin Aaronson/Richard Tonthat/Daniel Bush Grant Thornton UK LLP (Nominated Adviser) Tel: +44 (0)207 383 5100
Nick Tulloch/Beth McKiernan Cenkos Securities plc (Broker) Tel: +44 (0) 131 220 6939
Forward Looking Statements
This announcement may include forward-looking statements. These
forward-looking statements are based on Salt Lake's expectations
and beliefs concerning future events. Forward looking statements
are necessarily subject to risks, uncertainties and other factors,
many of which are outside the control of Salt Lake, which could
cause actual results to differ materially from such statements.
Salt Lake makes no undertaking to subsequently update or revise the
forward-looking statements made in this announcement, to reflect
the circumstances or events after the date of that
announcement.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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