Maiden resource declared at Hatch Point
PERTH (miningweekly.com) – ASX-listed junior Potash Minerals has declared a maiden Joint Ore Reserves Committee- (Jorc-) compliant resource of 902-million tons, grading 20% potassium chloride (KCI) at its Hatch Point project, in the US.
The mineral resource estimate was defined on less than 20% of the 405 km2 project area, and only potash beds at least 2 m thick and of greater than 15.9% KCI composite grade were included in the maiden resource.
Furthermore, the mineral resource included a proportion of higher-grade sylvinite, comprising 303-million tons at 24.4% KCI, and within this, 104-million tons, at 30% KCI.
CEO Ben Binninger said that the Jorc resource was believed to be one of the largest and best-quality discovered potash resources in the US.
“Delivering the 902-million-ton maiden Jorc resource estimate is an exciting development for the company and all shareholders. The fact that this has been defined on less than 20% of the project area and only includes potash beds of at least 2 m think, points to the significant potential of the Hatch Point project and quality of the resource.”
The maiden resource was based on 45 drill holes, including four cored holes with potash assays.
Binninger said on Monday that upon completion of the four-hole federal drilling programme, the potash resource at Hatch Point was expected to increase in size and status, as additional land should be able to be included in the area of influence used in the calculation of the resource estimate.
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