JSE- and Aim-listed Kore Potash has announced results from a drill programme that was conducted on the Dougou Extension project, which forms part of the company’s 70%-owned Sintoukola potash project, in Congo-Brazzaville, in the first quarter of this year.
The company plans to publish a prefeasibility study on the Dougou Extension before the end of May.
Results from the diamond drill infill programme included 4.2 m grading 56.4% potassium chloride and 4.9 m grading 32% potassium chloride.
These results will be incorporated into the prefeasibility study.
“The Dougou Extension project with its very high grade and shallow potash deposit, as well as close proximity to the coastline and the major port of Pointe Noire, is ideally placed to produce potash at low cost for supply into the nearby and growing markets in Africa and South America,” says CE Brad Sampson.
The company ended the quarter ended March 31 with $4.7-million of cash in the bank, but plans to raise additional capital in the second half of the year to continue funding its exploration and development programme, as well as fulfil its working capital requirements.