Kore Potash commences DFS for the DX Project

Kore Potash plc, the potash development company with 97%-ownership of the Kola and DX Potash Projects in the Sintoukola Basin, has announced that following the recent equity fundraise, work has commenced on the Definitive Feasibility Study (DFS) for the Company’s DX Project (DX).

HIGHLIGHTS

• The work to complete Phase One of the DFS on Kore’s DX Project has commenced
• A drilling programme consisting of the drilling and analysis of up to 5 new holes is planned to begin in October 2020 – these will improve confidence in the value of DX
• A number of international consultants have been engaged to support the environmental and technical aspects of the DFS
• SQM, a global scale lithium and potassium producer and one of Kore’s major shareholders, is providing technical support for key aspects of the DX DFS
• Phase One is planned for completion in May 2021

The Company believes DX is one of the highest grade undeveloped potash deposits known globally, and could potentially have the lowest operating costs per tonne of potassium fertiliser produced of any global peer.

In addition to its high grade, additional benefits are provided by the shallow depth of the DX deposit, the close proximity to the coast for shipping to market, and suitability for the solution mining method.

Brad Sampson, Chief Executive of Kore Potash, said: “I am very pleased that work on the DX Definitive Feasibility Study has commenced. This is another important milestone towards bringing the DX project into production as a low cost potash producer at a time when demand for potash continues to grow.”

“The combination of DX’s high grade and low cost nature is truly unique and we look forward to continuing to move the project forward.”

“As we complete the constituent parts of the DFS and beyond, Kore gets closer to constructing its projects. Whilst this is a several years long endeavour for any mine of this scale, I am confident that we will deliver for shareholders, employees, and all Republic of the Congo stakeholders.”

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.