Proactive Investors,
South Boulder Mines (ASX: STB) new potash discoveries have warranted the exploration target increase from 1.25 to 1.75 billion tonnes at 18 – 20% KCl at the Colluli Potash Project in Eritrea.
The upgrade target is substantiated by the discovery of extensive potash at Area B, with South Boulder saying further drilling in the area of mineralisation is expected to grow significantly.
Latest highlights include:
- 1.69 metres of sylvinite from 50.28 metre;
- 3.09 metres of carnallitite from 57.06 metres;
- 8.56 metres of kainitite from 48.69 metres; and
- 7.49 metres of kainitite from 60.15 metres.
South Boulder is continuing to explore the area at speed, with additional diamond holes already planned as part of an expanded exploration and development drilling program.
The current JORC Resource breakdown at Colluli is:
- 548 million tonnes at 18.58% KCl, for a total contained potash of 102 million tonnes; and
- This includes, 119 million tonnes at 23.14% KCl.
Eritrea is a country in the Horn of Africa, bordered by Sudan to the west and Ethiopia to the south.
(Source)
