PERTH (miningweekly.com) – ASX-listed Sheffield Resources on Thursday announced that the sale of its Oxley potash project, in Western Australia, to fellow-listed Centrex Metals has been declared unconditional.
In March, Centrex announced that it would acquire the project for A$2.5-million.
All the conditions precedent for the sale of the asset, including Foreign Investment Review Board approval, had now been received.
The Oxley project comprises six adjacent exploration licences that cover an unconventional hard-rock style of potash mineralisation.
Centrex said on Thursday that a small drilling programme would be completed at the site to provide a sample for bench scale pyrometallurgical and hydrometallurgical testwork, during the second half of 2015.
The bench scale testwork would be undertaken for a number of priority process flowsheets for the project, to directly produce high-value potassium products from potash feldspar.