Kore Potash receives green light to drill at DX Project
Kore Potash plc, 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 received authorisation from the Government of the Republic of the Congo to commence the planned drilling programme for the Definitive Feasibility Study (DFS) for the Company’s DX Project (DX).
All Government approvals required for the planned DFS work programme now in place. A drilling programme consisting of the drilling and analysis of up to 5 new holes is planned to begin this month – these will improve confidence in the value of DX.
A number of local and 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 of the DX DFS is planned for completion in May 2021.
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.
The drilling will be undertaken using drill rigs and equipment that the Company owns and that are on site at the Sintoukola camp.
Key personnel have been mobilised to site and the drilling programme remains on track for commencement of drilling before the end of October 2020.
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.
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
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.