Wrap Text
Drilling Campaign at DX Project Commences
Kore Potash plc
(Incorporated in England and Wales)
Registration number 10933682
ASX share code: KP2
AIM share code: KP2
JSE share code:KP2
ISIN: GB00BYP2QJ94
(“Kore Potash” or the “Company”)
Drilling Campaign at DX Project Commences
Kore Potash plc (“the Company”), the potash development company with 97%-ownership of the Kola
and DX Potash Projects in the Sintoukola Basin, is pleased to announce that it has commenced the
planned drilling programme for the Phase 1 of Definitive Feasibility Study (“DFS”) for the Company’s
DX Project (“DX”).
Highlights
• The drilling programme on Kore Potash’s DX Project consisting of the drilling and analysis of
up to 5 new diamond drill holes has commenced – these will improve confidence in the value
of DX
• The drilling is being done utilising Kore owned mud rotary and diamond drill rigs
• Phase One of the DX DFS is planned for completion in May 2021
Background
The drilling campaign has been designed to provide additional intercepts of the targeted sylvinite
horizons and improve confidence in the DX Mineral Resources and Ore Reserves.
Kore Potash acquired two drill rigs, a mud rotary and a diamond drill rig in 2019 and previously utilised
these drill rigs to complete the DX PFS drilling programme. These drill rigs will be used for this current
drilling programme.
The same team of drilling professionals have been contracted to carry out this drilling campaign as
those that undertook the PFS drilling campaign. Their local knowledge and understanding of the drill
rigs are a positive in terms of safely completing the drilling programme at the lowest cost.
Drilling Programme
The Company is planning to drill up to 5 additional diamond drill holes within the DX Deposit which
sits within the Dougou Permit area.
The drilling programme is designed to improve confidence in the Mineral Resources and Ore Reserves
of the DX Deposit. The drill holes are designed to intersect the targeted potash seams approximately
400 metres below surface. The sylvinite seams at DX are at shallow depths compared to other potash
deposits globally.
Drilling has commenced and two rotary drill holes will initially be drilled to the anhydrite layer that
overlies the potash bearing “salt formation.” Once these two holes have reached this point a further
drilling team will be mobilised to commence with the diamond drilling of core on these two holes,
while the mud rotary rig continues to drill the upper parts of the next holes.
Brad Sampson, Chief Executive of Kore Potash, said:
“It is very pleasing to be able to commence this drilling programme at DX on time and as planned.”
“The majority of our drilling staff have been employed from the communities nearby the DX project
area, and we are delighted to be able to find this capability locally and to continue contributing to the
local economy.”
Authorised for release by the Board of Directors.
ENDS
22 October 2020
JSE Sponsor: Rencap Securities (Pty) Limited
For further information, please visit www.korepotash.com or contact:
Kore Potash Tel: +27 11 469 9140
Brad Sampson – CEO
Tavistock Communications Tel: +44 (0) 20 7920 3150
Jos Simson
Edward Lee
Canaccord Genuity – Nomad and Broker Tel: +44 (0) 20 7523 4600
James Asensio
Henry Fitzgerald-O’Connor
Shore Capital – Joint Broker Tel: +44 (0) 20 7408 4050
Jerry Keen
Toby Gibbs
James Thomas
About Kore Potash’s Projects
Kore Potash is an advanced stage mineral exploration and development company whose primary asset
is 97%-owned interest in the Sintoukola project, a potash project located in the Republic of Congo.
The Sintoukola project comprises the Dougou Extension sylvinite Deposit, the Kola sylvinite and
carnallite Deposits, and the Dougou carnallite Deposit. These deposits are within the Dougou and Kola
Mining Licenses. The Sintoukola project also includes the Sintoukola 2 Exploration License.
Sintoukola is located approximately 80 km to the north of the city of Pointe Noire which has a major
port facility, and within 30 km of the Atlantic coast. Sintoukola has the potential to be among the
world’s lowest-cost potash producers and its location near the coast offers a transport cost advantage
to global fertilizer markets.
The Dougou Extension sylvinite Deposit contains a total sylvinite Mineral Resource Estimate of 145 Mt
grading 39.7% KCl, hosted by two seams. The results of a Pre- Feasibility Study (“PFS”) were
announced on 13 May 2020, which determined Ore Reserves of 17.7 Mt with an average grade of
41.7% KCl. Dougou Extension is located 15 km southwest of Kola. The deposit is open laterally; an
Exploration Target for the northward extension of sylvinite was announced on the 21 November 2018.
The Kola sylvinite Deposit has a Measured and Indicated sylvinite Mineral Resource Estimate of 508
million tonnes grading 35.4% KCl. The results of a Definitive Feasibility Study (“DFS”) were announced
on 29 January 2019, which determined Ore Reserves of 152 Mt with an average grade of 32.5% KCl.
The deposit is open laterally; an Exploration Target for the Southward extension of sylvinite was
announced on the 21 November 2018.
The Dougou Extension and Kola sylvinite Deposits are considered high grade relative to most potash
deposits globally and have the advantage of having very low content of insoluble material, less than
0.3% which provides a further processing advantage.
Glossary of Terms & Abbreviations
Term Explanation
classification (of Resources The determination of the level of confidence of the estimations, in
and Reserves) this case using the categories of the JORC Code
(Definitive) Feasibility Study A (Definitive) Feasibility Study is a comprehensive technical and
economic study of the selected development option for a mineral
project that includes appropriately detailed assessments of
applicable Modifying Factors together with any other relevant
operational factors and detailed financial analysis that are necessary
to demonstrate at the time of reporting that extraction is reasonably
justified (economically mineable). The results of the study may
reasonably serve as the basis for a final decision by a proponent or
financial institution to proceed with, or finance, the development of
the project. The confidence level of the study will be higher than
that of a Pre-Feasibility Study
Indicated Mineral Resource An ‘Indicated Mineral Resource’ is that part of a Mineral Resource
for which quantity, grade (or quality), densities, shape and physical
characteristics are estimated with sufficient confidence to allow the
application of Modifying Factors in sufficient detail to support mine
planning and evaluation of the economic viability of the deposit.
Geological evidence is derived from adequately detailed and reliable
exploration, sampling and testing gathered through appropriate
techniques from locations such as outcrops, trenches, pits, workings
and drill holes, and is sufficient to assume geological and grade (or
quality) continuity between points of observation where data and
samples are gathered. An Indicated Mineral Resource has a lower
level of confidence than that applying to a Measured Mineral
Resource and may only be converted to a Probable Ore Reserve
Inferred Mineral Resource An ‘Inferred Mineral Resource’ is that part of a Mineral Resource for
which quantity and grade (or quality) are estimated on the basis of
limited geological evidence and sampling. Geological evidence is
sufficient to imply but not verify geological and grade (or quality)
continuity. It is based on exploration, sampling and testing
information gathered through appropriate techniques from
locations such as outcrops, trenches, pits, workings and drill holes.
An Inferred Mineral Resource has a lower level of confidence than
that applying to an Indicated Mineral Resource and must not be
converted to an Ore Reserve. It is reasonably expected that the
majority of Inferred Mineral Resources could be upgraded to
Indicated Mineral Resources with continued exploration
Measured Mineral Resource A ‘Measured Mineral Resource’ is that part of a Mineral Resource for
which quantity, grade (or quality), densities, shape, and physical
characteristics are estimated with confidence sufficient to allow the
application of Modifying Factors to support detailed mine planning
and final evaluation of the economic viability of the deposit.
Geological evidence is derived from detailed and reliable
exploration, sampling and testing gathered through appropriate
techniques from locations such as outcrops, trenches, pits, workings
and drill holes, and is sufficient to confirm geological and grade (or
quality) continuity between points of observation where data and
samples are gathered. A Measured Mineral Resource has a higher
level of confidence than that applying to either an Indicated Mineral
Resource or an Inferred Mineral Resource. It may be converted to a
Proved Ore Reserve or under certain circumstances to a Probable
Ore Reserve
Mineral Deposit A mineral deposit is a natural concentration of minerals in the
earth's crust
Mineral Reserve the economically mineable part of a Measured and/or Indicated
Mineral Resource. It includes diluting materials and allowances for
losses, which may occur when the material is mined or extracted
and is defined by studies at Pre-Feasibility or Feasibility level as
appropriate that include application of Modifying Factors. Such
studies demonstrate that, at the time of reporting, extraction could
reasonably be justified
Mineral Resource A ‘Mineral Resource’ is a concentration or occurrence of solid
material of economic interest in or on the Earth’s crust in such form,
grade (or quality), and quantity that there are reasonable prospects
for eventual economic extraction. The location, quantity, grade (or
quality), continuity and other geological characteristics of a Mineral
Resource are known, estimated or interpreted from specific
geological evidence and knowledge, including sampling. Mineral
Resources are sub-divided, in order of increasing geological
confidence, into Inferred, Indicated and Measured categories
Muriate of Potash (MoP) The saleable form of potassium chloride, comprising a minimum of
95% KCl
Ore and orebody Ore is the economically and technically mineable material. The
orebody is the mineable part of the deposit comprising the Ore
Reserves
Date: 22-10-2020 08:00:00
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