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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Salt Lake Potash Limited | LSE:SO4 | London | Ordinary Share | AU000000SO44 | ORD NPV (DI) |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 2.45 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From Apr 2019 to Apr 2024
TIDMSO4
RNS Number : 5102V
Salt Lake Potash Limited
31 January 2017
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31 January 2017 AIM/ASX Code: SO4
SALT LAKE POTASH LIMITED
December 2016 Quarterly Report
--------------------------------
The Board of Salt Lake Potash Limited (the Company or Salt Lake) is pleased to present its quarterly report for the period ending 31 December 2016.
Highlights:
Surface Aquifer Exploration Program
Ø An 8.5 tonne amphibious excavator completed 127 shallow test pits and 7 trial trenches in the shallow aquifer at the Lake Wells Project. Sustained pump tests were completed on two 4.5m deep trenches in the southern part of the lake. Highlights from modelling completed in January 2017 include:
- Modelled annual flow rates of 1.1 - 1.3 Litres per second (L/s) based on a 1 year simulated model of the results recorded during the 50m trial trench pump test.
- Modelled annual flow rates of 0.23 - 0.28L/s based on a 1 year simulated model of the results recorded during the 25m trial trench pump test.
Deeper Paleochannel Aquifer
Ø The off-lake aircore drilling program, targeting the Lake Wells paleochannel, continued to successfully intersect Basal Paleochannel Sediments along the entire length of the paleochannel unit, which will comprise the main productive aquifer in the deeper part of Lake Wells brine resource.
Ø A second off-lake bore in the deep basal sand aquifer in the northern part of Lake Wells was test pumped at a constant rate of 8L/s for 4 days. The drawdown data exhibited boundary conditions consistent with the paleochannel setting.
Process Development Testwork
Ø The Company conducted a range of process development testwork to significantly enhance the Lake Wells process model. Substantial volumes of brine from Lake Wells were concentrated into harvest salts (Potassium and Sulphate mixed salts) in three separate trials under simulated and actual site conditions.
Ø The conversion and crystallisation of harvest salts at Hazen Research in Colorado then produced the first Sulphate of Potash (SOP) samples from Lake Wells brine.
Ø An extensive Site Evaporation Trial (SET) was established at Lake Wells. The SET has to date processed approximately 125 tonnes of brine and producing harvest salts on a continuous basis. The SET will continue to operate for up to 12 months generating site specific evaporation data and producing sufficient harvest salts for bulk production of SOP samples for distribution to potential partners and customers.
Regional Lakes
Ø Geophysical surveys were performed at Lake Irwin and Lake Ballard to resolve the geometry of the paleovalley, and to define the position and depth of the paleochannel at each Lake.
Ø Initial evaporation testwork on Lake Irwin brine confirmed the suitability of harvest salts for SOP production.
LAKE WELLS EXPLORATION
Surface Aquifer Exploration Program
In November 2016, the Company mobilised an 8.5 tonne amphibious excavator to gather further geological and hydrological data about the shallow brine aquifer hosted by the Quaternary Alluvium stratigraphic sequence in the upper 20 meters of Lake Wells.
The aim of the program is to evaluate the geology of the shallow Lake Bed Sediments, and to undertake pumping trials to provide estimates of the potential brine yield from trenches in the shallow sediment.
The excavator program is also providing important geological and geotechnical information for potential siting and construction of trenches and on-lake brine evaporation ponds.
The program to the end of 2016 included the excavation of 127 test pits in three tranches over the lake playa. The test pits were generally excavated to an area of 1 meter x 1.5 meters and a depth of 4 meters and are representative of the shallow stratigraphy of the lake playa.
The test pits were logged for geology, hydrology and brine chemistry during the excavation process. Particle Size Distribution (PSD) samples and brine samples were taken from each pit.
The test pits were also subject to short duration pumping tests in order to analyse the recovery of the brine levels in the test pits.
Based on the geology and hydrological information from the test pits, a number of sites for excavation of larger test trenches were chosen, reflecting the variability of the geology and hydrogeology encountered in the lake playa sediments.
A total of seven trenches were excavated on the chosen sites, each approximately 4.5 meters deep and between 25 meters to 50 meters long. Benching was used to provide geotechnical stability for the trench sidewalls and the resulting trenches are approximately 5m wide at the surface and 1m wide at the base.
Five of the trenches were located in the southern end of the Lake Wells, in close proximity to the Evaporation Trial Site. To date two trenches have been test pumped.
Geology of the shallow sediments
Based on the widespread test pits the shallow aquifer geology is reasonably uniform across the Lake. The shallow sediment is generally composed of Cenozoic (Quaternary - Holocene) brown to white to red, unconsolidated, gypsiferous sand, silt and clay with a strong overprint of ferric oxides from 0.5 to around 3 - 8m depth. Dominated by sub-angular, well sorted, very fine to medium quartz sand, the sand commonly grades progressively to a more silt and clay dominated sediment with depth, with occasional interbedded sand lenses. Authigenic prismatic and tabular gypsum is common, growing in discontinuous, vein-like structures throughout the unit, with a large variety of crystal sizes. Minor, medium-grained lithic fragments can be found throughout this gypsum.
Trench P1a (25m)
The geological sequence in P1a consisted of a 0.7m layer of surficial coarse grained evaporate sand overlying silt and clay with evaporate clasts to 3m depth. Plasticine clays were encountered from 3m to the base of the trench. The trench appears to have average brine flows in visual comparison to other trenches and test pits.
Trench P1c (50m)
For P1c the geological sequence includes a 0.4m thick layer of surficial coarse-grained evaporite sand overlying silt with evaporite clasts to 2m depth. The interval from 2m to 2.8m comprised a stiff fractured/fissured clay that yielded significant brine. Sediment from 2.8 to 3.6m was soft clay and the underlying interval to total depth of 4.4m was silt and fine grained evaporate sands that also yielded brine.
Sustained Test Pumping Results
Trenches were test pumped for several days using a pair of centrifugal suction pumps yielding up to 4L/s each. The test pumping process involved pumping out the trench volume with both pumps until the brine level was drawn down to a predetermined level above the trench floor. The pump yields were then restricted to keep the brine in the trench at this predetermined level. The brine from the trench was disposed away from the test trenches to prevent recycling of brine and creating an artificial recharge boundary.
Observation wells were constructed at distances varying from 10, 20, 50, and 76 meters away from the trenches to measure the water table drawdown in the surrounding aquifer during trench pumping. These wells were logged for geological information and constructed with slotted 50mm casing to the bottom of the well at 6 meters below surface.
The brine level elevations were measured with water data loggers in both the trench and the observation wells and verified during the test pumping with manual readings. The cumulative brine yield from the pumps were measured with a calibrated flow meter.
Standing water level of the brine was approximately 0.5m below ground surface at each trench and in the observation wells before test pumping started.
The data from the trench test pumping were analysed and processed based on the measured brine flows, water level readings in the trenches and the observation wells.
Note that the amount of brine pumped daily from the trenches decreased after one day in P1a and two days in P1c. This is due to the removal of the trench storage. After this initial period the inflows were from the surrounding aquifer material.
As expected, the aquifer material surrounding the P1c trench displayed more permeability than the material surrounding the P1a trench and this can be seen in the drawdown measured in the observation wells.
P1a Detail Analysis
The brine level in the trench was drawn down by 1.4m to stabilise at approximately 1.7m below ground surface. Pumping was then continued at a lower rate to maintain a constant brine level in the trench and balance brine inflow to the trench with pumping. By the end of the 8.3 day trial the flow rate from the trench had reduced to 38m(3) /day (0.6L/s) as the surrounding material close to the 25 meter long trench was dewatered.
P1c Detail Analysis
The brine level in the trench was drawn down by 2m to stabilise at approximately 2.5m below ground surface, pumping was then continued to maintain a stable water table in the trench, while brine inflow from the surrounding sediment balanced pumping from the trench. By the end of the trial the pumping rate required to maintain a stable brine level had decreased to approximately 130m(3) /day (1.6L/s) as the surrounding material close to the trench was dewatered.
Two rain events occurred during the P1c pumping trial, the first on 3 December 2016 (day 2 of the trial) and the second on 5 December 2016 (day 4 of the trial). The magnitude of each rain event was approximately 20mm, and the effect of rainfall recharge is observed in rising brine levels measured at monitoring bores around the trench.
These observations indicate the importance of recharge on the long-term water balance of the shallow lake bed aquifer.
Observation bores to the northeast of the trench exhibited significantly greater water table drawdown than the observation bores to the southwest indicating that the sediment is more permeable toward the northeast of the trench. Two permeability zones were applied in the model, a high permeability zone to the northeast of the trench and a lower permeability zone to the southwest.
Trench Data Modelling
A MODFLOW numerical flow model was constructed for each trench site using Visual Modflow software system (McDonald and Harbaugh (1988)(1) , SWS, 2011(2) ) based on the geological and hydrogeological data for each site.
The models were calibrated to the pumping flow rate and water table drawdown measured during each test. These calibrated models provide estimates of the hydraulic properties of the Lake Bed Sediments which will be used to inform the Pre-Feasibility Study for the project.
The models assume consistent hydraulic properties of the Lake Bed Sediment within the zone of influence of pumping. To date insufficient data is available to characterise any extended spatial variability in the geology.
[1] McDonald and Harbaugh (1988), A modular three-dimensional finite-difference groundwater flow model. USGS. Techniques of Water Resources Investigations book 6, chapter A1
2, SWS, 2010, Visual Modflow users Guide, Schlumberger Water Services
Modelling results
P1a P1c
------------------------------------------ ------------- -----------------
Trench Depth 4.5 m 4.5 m
------------------------------------------ ------------- -----------------
Trench Length 25 m 50 m
------------------------------------------ ------------- -----------------
Total Volume Pumped 557 m(3) 1,240 m(3)
------------------------------------------ ------------- -----------------
Duration of Pumping 8.3 days 7.3 days
------------------------------------------ ------------- -----------------
Average Flow Rate 67 m(3) /day 170 m(3) /day
------------------------------------------ ------------- -----------------
Calibrated Model Aquifer Properties
* Permeability 3 m/day 0.3 - 40 m/day
10% 7%
* Drainable Porosity
------------------------------------------ ------------- -----------------
Table 1: Trench Pumping Trial Overview
The results shown above indicate that the drainable porosity of the aquifers is very similar while the permeability vary much more due to the different geological settings of the trenches.
Longer term brine yield
The calibrated models developed for each trench were run for an extended duration of 1 year to assess the expected longer term brine yield from a test trench.
For each trench the calibrated model was run for a range of rainfall recharge scenarios:
a) no recharge, b) 10% of annual rainfall (22mm) c) 15% of annual rainfall (34 mm).
Trench P1a yielded a total of 8,000 to 9,000 m(3) (equivalent to 0.23 - 0.28L/s) over the 1 year simulation for the different recharge scenarios while P1c yielded 36,000 to 40,000m(3) (equivalent to 1.1 - 1.3L/s) over the 1 year simulation with the same recharge scenarios. The difference in lengths (P1a = 25m, P1c = 50m) did not account for large difference in pumped volume and it is attributed to the fact that trench 1C is excavated into highly permeable material.
P1a Long-term Yield
The long term yield of brine into trench P1a stabilised at 20m(3) /day (0.25L/s) for the 25 meter trench.
P1c Long-term Yield
The long term yield of brine into trench P1c stabilised at 105m(3) /day (1.2L/s) for the 50 meter trench.
Thirty brine samples were taken from test pits after the excavation process and the average potassium concentration was 3.522kg/m(3) .
Aircore Drilling Program
The off-lake aircore drilling program continued to test potential paleochannel aquifer targets identified by geophysical surveys in accessible areas in the southern end of Lake Wells.
The results from the drilling provided further understanding of the hydrogeological characteristics of the paleochannel aquifer and yielded the expected stratigraphic sequence consistent with paleovalley fill material.
Four drillholes totalling 441m were drilled on a transect in the southern area of the Lake, intended to define the deepest part of the basement (the "thalweg") in the Southern extent of Lake. All the drillholes intersected the granite basement and this information was used to validate the refined gravimetric geophysical data. The spacing of the drillholes is 200 meters apart from east to west.
Coarse sands were encountered Drillhole LWA051 from 119m down to 128m and it will be the target for a production bore in the current quarter.
This will complete the off-lake drilling program at Lake Wells for the time being, with future drilling to be undertaken on-lake, aimed at the best paleochannel targets defined in the refined geophysical model.
The average potassium concentration of brine samples taken from the aircore drillholes are shown in the table below. The samples were all taken from the Basal Paleochannel Sediment unit in each bore during the drilling and airlifting process. The sampled values range from a minimum of 2.420kg/m(3) to a maximum of 3.390kg/m(3) .
Average
-------------------------------------------------------------------------------------------------------
HOLE ID K Cl Na Ca Mg SO(4) TDS
(kg/m(3) ) (kg/m(3) ) (kg/m(3) ) (kg/m(3) ) (kg/m(3) ) (kg/m(3) ) (g/kg)
--------- ------------ ------------ ------------ ------------ ------------ ------------ --------
LWA049 3.029 126.306 75.175 0.659 6.583 16.900 262
--------- ------------ ------------ ------------ ------------ ------------ ------------ --------
LWA050 3.332 136.983 81.350 0.625 6.937 18.200 285
--------- ------------ ------------ ------------ ------------ ------------ ------------ --------
LWA051 2.833 119.663 71.150 0.510 6.300 15.875 247
--------- ------------ ------------ ------------ ------------ ------------ ------------ --------
Table 2: Average Brine Chemistry of Samples taken from the Basal Paleochannel Sediment
Test pumping
A mud-rotary production bore LWTB011 was constructed on the LWA039 transect (in the northern part of the Lake) and a test pumping system from Resource Water Group was mobilised to Lake Wells.
The bore was screened from 100m to 124m over an intersection of sand, coarse sands and some fine gravels. The bore yielded 11.5L/s from airlifting while the bore was developed.
The pump was installed at 95m for the duration of the test pumping and a calibration test was completed for the bore, including pumping the following rates:
-- 7 L/s for 5 minutes with drawdown of 34.85m -- 10.5 L/s for 5 minutes with drawdown of 46.68m -- 13L/s for 5 minutes with drawdown of 62.70m -- 15L/s for 10 minutes with drawdown of 80.51m
A step rate test with four steps was undertaken ranging from 7L/s to 13L/s. The duration of each step was 100 minutes and the last step at 13L/s was stopped short at 15 minutes due to the water level at 93.40m in the bore approaching the pump inlet at 95m.
A constant rate test at 8L/s was undertaken for four days with the water level in the bore reaching 69.68m and boundary conditions consistent with a paleochannel setting were encountered during the test. This was inline with the geophysical modelling of the gravimetric survey data.
The constant rate test results were modelled and the results indicated that the measured aquifer transmissivity for the screened interval is 10.1m(2) /day with a bulk hydraulic conductivity of 0.42m/day.
This bore pumping test provides additional valuable data on the potential productivity of the paleochannel basal aquifer in the Northern part of the Lake. The limited availability of off-lake paleochannel targets mean future bore pumping tests are likely to be undertaken on bores installed in the on-lake paleochannel targets.
Two brine samples were taken from production drillhole LWTB11 during the drilling and development process with average potassium concentration of 3.725kg/m(3) .
LAKE WELLS PROCESS TESTWORK
The proposed process for production of SOP at Lake Wells is based on brine extracted from the Lake being concentrated in a series of solar ponds to induce the sequential precipitation of salts, firstly eliminating waste halite and eventually producing potassium-containing salts (Harvest Salts) in the harvest ponds. These harvest salts are then processed by a combination of attrition, flotation, conversion and crystallisation into SOP and other end products.
During the quarter, three separate brine evaporation trials under both simulated and actual site conditions were completed or are continuing and substantial volumes of brine from Lake Wells have been concentrated into harvest salts (Potassium and Sulphate mixed salts).
Institutional process development company, Hazen Research Inc. (Hazen), in Colorado, USA, and Bureau Veritas (BV) in Perth conducted laboratory trials under simulated conditions to produce significant quantities of harvest salts and refine the Lake Wells brine evaporation model. An extensive Site Evaporation Trial (SET) was also established at Lake Wells to process large volumes of brine under site conditions.
Initial marketing samples of Sulphate of Potash (SOP) were also produced by Hazen by processing of harvest salts from Lake Wells brine.
Bench Scale Trial - Hazen Research
Hazen is a world class industrial research and development firm located in Golden, Colorado that has developed hundreds of hydrometallurgical, pyrometallurgical, and mineral beneficiation processes for most commercial metals and industrial minerals, and many inorganic and organic chemicals, including potash and other crop nutrients.
Salt Lake engaged Hazen to complete an evaporation, flotation and crystallisation trial on a representative sample of Lake Wells brine. The Hazen evaporation test was monitored using a USBM theoretical model; the actual evaporation pattern followed the modelled theoretical pattern very closely.
Hazen first evaporated an initial 240kg charge of brine under simulated site conditions producing 14kg of harvest salts for further testing.
Sighter rougher reverse flotation tests were then conducted on the harvest salts. Excellent initial halite separations were achieved in reverse flotation with approximately 90% of the halite removed from the harvest salts. Further rougher tests followed by rougher-cleaner and rougher-scavenger tests are planned to refine the process design in the coming months.
Flotation tails (harvest salt concentrate) were then converted to schoenite under controlled temperature and dilution conditions and filtered to recover the schoenite concentrate. XRD and ICP analysis of the converted schoenite showed excellent conversion to approximately 99% schoenite.
The schoenite was added to a saturated K(2) SO(4) brine at 55 C. At these conditions, SOP was crystallized from solution by selective dissolution and the Company successfully produced its first solid SOP marketing samples.
Site Evaporation Trial
A large scale, continuous Site Evaporation Trial (SET) has been established at Lake Wells to define process design criteria for the halite evaporation ponds and subsequent harvest salt ponds.
The objectives of the SET are to:
-- Refine the solar evaporation pathway, under actual site conditions, for Lake Wells brine. The analysis of this pathway will refine the salting points of the various salts along the evaporation pathway allowing for the completion of a detailed mass balance for the pond system;
-- Refine the quality and quantity of brine and salts produced at the various points along the evaporation path;
-- Define the distribution in various salts of potassium, magnesium and sulphate through the evaporation system;
-- Provide design information for brine in-flow requirements, pond area, required number of ponds and flow requirements between ponds for a commercial facility; and
-- Determine opportunities for recycle of bittern or salt that may improve potassium, magnesium or sulphate recovery to the harvest salts.
-- Provide bulk salt samples for further process testwork and production of bulk SOP samples for potential offtake partners and customers.
The outputs of the ongoing SET test work will also provide key inputs into the basis of costings for the halite and harvest evaporation ponds for the Lake Wells SOP project and assist in the development of a more extensive test work program include:
-- Halite Evaporation Pond Design: On-lake pond construction trial;
-- Flotation Test Work: Collected mixed salts from the harvest ponds will provide the inputs for flotation work;
-- Conversion Test Work: Outputs from the flotation trials above will provide inputs for conversion design trials; and
-- Crystallisation Trials: Outputs from the flotation trials above will provide inputs for crystallisation test work.
Brine is introduced to the first Halite Pond, H1, via a small, hand dug surface trench. The brine progresses on a continuous basis through a series of six ponds as it concentrates through evaporation: two halite ponds; two transition ponds; and two harvest salt ponds.
To date approximately 125 tonnes of Lake Wells brine has been processed through the SET across trains 1 and 2, establishing an initial continuous load of salts and enriched brine. The SET is expected to produce hundreds of kilograms of harvest salts per week over the summer months for further testing. The harvest salts recovered from the SET contain up to 50% Kainite (KMg(SO(4) )Cl.3(H2O)), a potassium double salt which can be readily converted into SOP following the basic process trialled at Hazen. The SET will operate over up to 12 months across a variety of weather conditions.
An Automatic Weather Station (AWS) has been established at the SET site, providing comprehensive, continuous data for temperature, solar radiation, pan & theoretical evaporation, relative humidity and wind velocity and direction. The AWS data combined with actual evaporation records from the nearby SET will allow for sizing and detailed production modelling of commercial scale evaporation ponds.
Bench Scale Trials - Bureau Veritas
The Company engaged international laboratory and testing company, Bureau Veritas (BV) in Perth, to conduct a series of tests evaporating brine at simulated average Lake Wells site conditions. The aim of the BV trials is to monitor the chemical composition of the brine and salts produced through the evaporation process to establish:
-- Concentration thresholds in the brine chemistry which can be used to maximise the recovery of harvest salts and minimise the quantity of dilutive salts into a process plant;
-- The quantity and composition of harvest salts which will for the plant feed in commercial production; and
-- The potential for any internal evaporation pond recycle streams that may improve harvest salt recovery.
The first trial in the series consisted of evaporation of 90kg of brine on a load cell to monitor evaporative loss. The temperature of the brine was controlled to a constant 23(o) C using infra-red lamps and air flow across the brine surface was provided by a fan.
From the initial 90kg charge 3.25kg of harvest salts (dry basis) were collected and analysed for chemical composition and crystal structure.
The evaporation pathway at BV appears to closely match the pathway demonstrated at Hazen Labs. BV has subsequently completed the evaporation of a further 2,500kg of brine to provide harvest salts for further flotation and crystallisation testwork to refine the SOP production model and provide additional customer samples.
LAKE IRWIN
Geophysical Survey
A geophysical survey was completed at the Lake Irwin project. Atlas Geophysics were engaged to run a total of 15 geophysical transects across the Lake Irwin playa lake portion of the project area, orientated perpendicular to the inferred trunk paleochannel in order to map and confirm the paleochannel geometry. Transects were spaced up to 7 km apart with lengths between 4 and 25 km, and a combined length of about 200 km. Gravity data on all transects and passive seismic (Tromino) on six transects was collected at 200 m intervals across the project area.
The geophysical data was processed and merged with available regional data by Core Geophysics, the final merged residual gravity data being used as the basis for interpretation. The trunk paleochannel aquifer has been confirmed to the east of the current lake surface and is up to 1000m wide, while there is thinner tributary beneath the northern lobe of the lake.
Lake Irwin Brine Evaporation Trial
After the successful process development testwork performed on Lake Wells brine, the Company engaged Bureau Veritas in Perth, to conduct a test evaporating brine at simulated average Lake Irwin site conditions. The aim of the BV trial was to monitor the chemical composition of the brine and salts produced through the evaporation process to establish:
-- Types of product salts that may be produced through the natural solar evaporation path;
-- Concentration thresholds in the brine chemistry which can be used to maximise the recovery of harvest salts and minimise the quantity of dilutive salts into a process plant; and
-- The quantity and composition of SOP product salts for the plant feed in potential commercial production.
The preliminary test consisted of evaporation of 180L of brine (specifications in Table 3 below) at simulated Lake Irwin average weather conditions using infra-red lamps for temperature control and air flow across the brine surface provided by a fan.
K Mg SO(4) SOP
(mg/L) (mg/L) (mg/L) (kg/m(3) )
--------------------------------------------- -------- -------- -------- ------------
BV Evaporation Trial Feed Brine Chemistry * 2,700 4,300 17,700 6.013
--------------------------------------------- -------- -------- -------- ------------
* Note, this sample is potentially diluted by rainfall. The average K content of all previous Lake Irwin brine samples is approximately 3,310mg/L.
Table 3: Evaporation Trial Feed Brine Chemistry
The preliminary test consisted of evaporation of 180L of brine at simulated Lake Irwin average weather conditions using infra-red lamps for temperature control and air flow across the brine surface provided by a fan.
The trials consisted of two charges evaporated under identical conditions:
-- Charge 1 - was 84kg of brine from which 1.9kg of potassium salts were harvested at an average SOP equivalent grade of 11.3% w/w.
-- Charge 2 was 83kg of brine from which 2.2kg of potassium salts were harvested at an average SOP equivalent grade of 10.6% w/w.
Analytical and XRD analysis from the trial indicate that harvest salts collected from the trial are suitable for conversion into SOP. Simulation of evaporation pond sizing has begun and further investigations into processing requirements for production of SOP and other by-products are planned.
LAKE BALLARD
A geophysical survey of Lake Ballard commenced during the quarter with the primary objectives of resolving the geometry of the paleovalley, and to define the position, depth and thickness of the paleochannel. Atlas Geophysics were engaged to run a total of 18 geophysical transects across the Lake Ballard playa lake portion of the project area, orientated perpendicular to the inferred trunk paleochannel in order to map and confirm the paleochannel geometry. Transect lengths are between 6 and 20km with a combined length of about 200km. Gravity data is being collected at 200m intervals on all transects as the deep paleochannel aquifer is inferred to be approximately 500m wide in the western portion of the lake. At the end of the quarter, 13 of the planned 18 transects were completed.
Competent Persons Statement
The information in this report that relates to Exploration Results, or Mineral Resources for Lake Wells is based on information compiled by Mr Ben Jeuken, who is a member Australian Institute of Mining and Metallurgy. Mr Jeuken is employed by Groundwater Science Pty Ltd, an independent consulting company. Mr Jeuken has sufficient experience, which is relevant to the style of mineralisation and type of deposit under consideration and to the activity, which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Jeuken consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
The information in this report that relates to Process Testwork Results is based on, and fairly represents, information compiled by Mr Bryn Jones, BAppSc (Chem), MEng (Mining) who is a Fellow of the AusIMM, a 'Recognised Professional Organisation' (RPO) included in a list promulgated by the ASX from time to time. Mr Jones is a consultant of Inception Consulting Engineers Pty Ltd. ("Inception"). Inception is engaged as a consultant by Salt Potash Limited. Mr Jones has sufficient experience, which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking, to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Jones consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
Table 4 - Summary of Exploration and Mining Tenements
As at 31 December 2016, the Company holds interests in the following tenements:
Australian Projects:
Project Status Type of Change License Number Area (km(2) ) Term Grant Date Date of First Relinquish-ment Interest (%) Interest
1-Oct-16 (%)
31-Dec-16
Western Australia
=================== =========== ================= ================ =================================== ============================== ============= ===========
Lake Wells
5
Central Granted - E38/2710 192.2 years 05-Sep-12 4-Sep-17 100% 100%
============= ================ ================== ================= ============== ====== =========== ============================== ============= ===========
5
South Granted - E38/2821 131.5 years 19-Nov-13 18-Nov-18 100% 100%
5
North Granted - E38/2824 198.2 years 04-Nov-13 3-Nov-18 100% 100%
============= ================ ================== ================= ============== ====== =========== ============================== ============= ===========
5
Outer East Granted - E38/3055 298.8 years 16-Oct-15 16-Oct-20 100% 100%
Single 5
Block Granted - E38/3056 3.0 years 16-Oct-15 16-Oct-20 100% 100%
============= ================ ================== ================= ============== ====== =========== ============================== ============= ===========
5
Outer West Granted - E38/3057 301.9 years 16-Oct-15 16-Oct-20 100% 100%
5
North West Granted Granted E38/3124 39.0 years 30-Nov-16 29-Nov-21 100% 100%
============= ================ ================== ================= ============== ====== =========== ============================== ============= ===========
Application
West Application Lodged L38/262 113.0 - - - - 100%
Application
East Application Lodged L38/263 28.6 - - - - 100%
============= ================ ================== ================= ============== ====== =========== ============================== ============= ===========
Application
South West Application Lodged L38/264 32.6 - - - - 100%
Lake
Ballard
============ ===== =========== ================= ================ =================================== ============================== ============= ===========
5
West Granted - E29/912 607.0 years 10-Apr-15 10-Apr-20 100% 100%
5
East Granted - E29/913 73.2 years 10-Apr-15 10-Apr-20 100% 100%
============= ================ ================== ================= ============== ====== =========== ============================== ============= ===========
5
North Granted - E29/948 94.5 years 22-Sep-15 21-Sep-20 100% 100%
5
South Granted - E29/958 30.0 years 20-Jan-16 19-Jan-21 100% 100%
============= ================ ================== ================= ============== ====== =========== ============================== ============= ===========
Application
South East Application Lodged E29/1011 68.2 - - - - 100%
Lake Irwin
============ ===== =========== ================= ================ =================================== ============================== ============= ===========
5
West Granted - E37/1233 203.0 years 08-Mar-16 07-Mar-21 100% 100%
5
Central Granted - E39/1892 203.0 years 23-Mar-16 22-Mar-21 100% 100%
============= ================ ================== ================= ============== ====== =========== ============================== ============= ===========
5
East Granted - E38/3087 139.2 years 23-Mar-16 22-Mar-21 100% 100%
5
North Granted Granted E37/1261 107.3 years 14-Oct-16 13-Oct-21 100% 100%
============= ================ ================== ================= ============== ====== =========== ============================== ============= ===========
Central 5
East Granted Granted E38/3113 203.0 years 14-Oct-16 13-Oct-21 100% 100%
5
South Granted Granted E39/1955 118.9 years 14-Oct-16 13-Oct-21 100% 100%
============= ================ ================== ================= ============== ====== =========== ============================== ============= ===========
North West Application - E37/1260 203.0 - - - 100% 100%
South West Application - E39/1956 110.2 - - - 100% 100%
============= ================ ================== ================= ============== ====== =========== ============================== ============= ===========
Lake
Minigwal
5
West Granted - E39/1893 246.2 years 01-Apr-16 31-Mar-21 100% 100%
============= ================ ================== ================= ============== ====== =========== ============================== ============= ===========
5
East Granted - E39/1894 158.1 years 01-Apr-16 31-Mar-21 100% 100%
5
Central Granted Granted E39/1962 369.0 years 8-Nov-16 7-Nov-21 100% 100%
============= ================ ================== ================= ============== ====== =========== ============================== ============= ===========
Central 5
East Granted Granted E39/1963 93.0 years 8-Nov-16 7-Nov-21 100% 100%
5
South Granted Granted E39/1964 99.0 years 8-Nov-16 7-Nov-21 100% 100%
============= ================ ================== ================= ============== ====== =========== ============================== ============= ===========
South West Application - E39/1965 89.9 - - - 100% 100%
Lake Way
============= ================ ================== ================= ============== ====== =========== ============================== ============= ===========
5
Central Granted Granted E53/1878 217.0 years 12-Oct-16 11-Oct-21 100% 100%
South Application - E53/1897 77.5 - - - 100% 100%
============= ================ ================== ================= ============== ====== =========== ============================== ============= ===========
Lake Marmion
North Application - E29/1000 167.4 - - - 100% 100%
============= ================ ================== ================= ============== ====== =========== ============================== ============= ===========
Central Application - E29/1001 204.6 - - - 100% 100%
South Application - E29/1002 186.0 - - - 100% 100%
============= ================ ================== ================= ============== ====== =========== ============================== ============= ===========
Application
West Application Lodged E29/1011 68.2 - - - - 100%
South Australia
=================== ============ ================ ================ =================================== ============================== ============= ===========
Lake
Macfarlane - Relinquished EL5702 816 - - - 100% -
Island
Lagoon - Relinquished EL5726 978 - - - 100% -
============= ================ ================== ================= ============== ====== =========== ============================== ============= ===========
Northern Territory
Lake Lewis
============ ===== ============ ================ ================ =================================== ============================== ============= ===========
6
South Granted - EL 29787 146.4 year 08-Jul-13 7-Jul-19 100% 100%
6
North Granted - EL 29903 125.1 year 21-Feb-14 20-Feb-19 100% 100%
============= ================ ================== ================= ============== ====== =========== ============================== ============= ===========
Other Projects:
Location Name Resolution Number Percentage Interest USA - Colorado C-SR-10 C-SR-10 80% ================ ========== =================== ==================== USA - Colorado C-JD-5A C-JD-5A 80% USA - Colorado C-SR-11A C-SR-11A 80% ================ ========== =================== ==================== USA - Colorado C-SR-15A C-SR-15A 80% USA - Colorado C-SR-16 C-SR-16 80% ================ ========== =================== ==================== USA - Colorado C-WM-17 C-WM-17 80% USA - Colorado C-LP-22A C-LP-22A 80% ================ ========== =================== ==================== USA - Colorado C-LP-23 C-LP-23 80% ================ ========== =================== ====================
APPIX 1 - LAKE WELLS DRILLHOLE AND TEST PIT LOCATION DATA
RL
--------- -------------- ------- -------- ---- --------
Drilled Depth (mAHD)
Hole_ID (m) East North Dip Azimuth
--------- -------------- ------- -------- ------- ---- --------
LWA049 125 538141 6991971 448.1 -90 0
--------- -------------- ------- -------- ------- ---- --------
LWA050 115 537941 6992011 441.5 -90 0
--------- -------------- ------- -------- ------- ---- --------
LWA051 135 538350 6991958 444.9 -90 0
--------- -------------- ------- -------- ------- ---- --------
LWA052 65 538570 6991962 441.5 -90 0
--------- -------------- ------- -------- ------- ---- --------
LWTB011 125 524435 7049780 441.5 -90 0
--------- -------------- ------- -------- ------- ---- --------
LWTT108 4 537055 6997725 - - -
--------- -------------- ------- -------- ------- ---- --------
LWTT109 4 537303 6997641 - - -
--------- -------------- ------- -------- ------- ---- --------
LWTT110 3.5 537545 6997619 - - -
--------- -------------- ------- -------- ------- ---- --------
LWTT111 2.8 537745 6997645 - - -
--------- -------------- ------- -------- ------- ---- --------
LWTT112 3.7 537935 6997717 - - -
--------- -------------- ------- -------- ------- ---- --------
LWTT113 2.7 538149 6997746 - - -
--------- -------------- ------- -------- ------- ---- --------
LWTT114 3.5 538360 6997733 - - -
--------- -------------- ------- -------- ------- ---- --------
LWTT115 3.4 538545 6997645 - - -
--------- -------------- ------- -------- ------- ---- --------
LWTT116 3.7 538729 6997511 - - -
--------- -------------- ------- -------- ------- ---- --------
LWTT118 3.8 539075 6997254 - - -
--------- -------------- ------- -------- ------- ---- --------
LWTT119 3.8 539245 6997057 - - -
--------- -------------- ------- -------- ------- ---- --------
LWTT119 3.8 539245 6997057 - - -
--------- -------------- ------- -------- ------- ---- -------- LWTT120 4 539377 6996876 - - - --------- -------------- ------- -------- ------- ---- -------- LWTT121 4 539495 6996671 - - - --------- -------------- ------- -------- ------- ---- -------- LWTT122 3.8 539589 6996442 - - - --------- -------------- ------- -------- ------- ---- -------- LWTT123 3.5 539661 6996217 - - - --------- -------------- ------- -------- ------- ---- -------- LWTT124 3 539715 6996002 - - - --------- -------------- ------- -------- ------- ---- -------- LWTT125 4 539762 6995779 - - - --------- -------------- ------- -------- ------- ---- -------- LWTT126 4 539796 6995525 - - - --------- -------------- ------- -------- ------- ---- -------- LWTT127 4 539903 6995285 - - - --------- -------------- ------- -------- ------- ---- -------- LWTT128 3.7 540064 6995142 - - - --------- -------------- ------- -------- ------- ---- -------- LWTT129 3.8 540306 6995187 - - - --------- -------------- ------- -------- ------- ---- -------- LWTT130 3.8 540500 6995350 - - - --------- -------------- ------- -------- ------- ---- -------- LWTT131 3.5 540692 6995471 - - - --------- -------------- ------- -------- ------- ---- -------- LWTT132 3.1 540922 6995561 - - - --------- -------------- ------- -------- ------- ---- -------- LWTT133 3.3 541140 6995600 - - - --------- -------------- ------- -------- ------- ---- -------- LWTT134 2.5 541357 6995668 - - - --------- -------------- ------- -------- ------- ---- -------- LWTT135 4 541590 6995088 - - - --------- -------------- ------- -------- ------- ---- -------- LWTT136 4 541781 6995552 - - - --------- -------------- ------- -------- ------- ---- -------- LWTT137 4 541777 6995303 - - - --------- -------------- ------- -------- ------- ---- --------
APPIX 2 - BRINE CHEMISTRY ANALYSIS
HOLE ID From To K Cl Na Ca Mg SO(4) TDS
(m) (m) (kg/m(3) ) (kg/m(3) ) (kg/m(3) ) (kg/m(3) ) (kg/m(3) ) (kg/m(3) ) (g/kg)
--------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ --------
LWA049 17 17 2.860 117.000 68.300 0.774 6.070 16.700 241
--------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ --------
LWA049 17 17 2.840 118.050 70.700 0.762 6.060 16.300 245
--------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ --------
LWA049 23 23 2.900 119.150 73.500 0.705 6.280 17.100 247
--------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ --------
LWA049 23 23 2.880 119.150 68.800 0.685 6.210 16.800 246
--------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ --------
LWA049 29 29 2.880 119.850 72.900 0.694 6.250 16.400 251
--------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ --------
LWA049 29 29 2.880 119.300 70.800 0.696 6.230 16.700 248
--------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ --------
LWA049 101 101 2.820 116.650 69.800 0.708 6.080 15.700 243
--------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ --------
LWA049 101 101 2.930 122.800 73.600 0.667 6.410 16.400 253
--------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ --------
LWA049 113 113 3.030 127.350 73.200 0.637 6.580 16.900 262
--------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ --------
LWA049 113 113 3.060 127.350 73.500 0.648 6.680 16.700 262
--------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ --------
LWA049 119 119 3.040 127.200 77.200 0.681 6.690 17.200 266
--------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ --------
LWA049 119 119 3.030 127.700 74.300 0.672 6.570 16.800 263
--------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ --------
LWA049 125 125 3.140 130.350 79.500 0.626 6.790 17.600 274
--------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ --------
LWA049 125 125 3.180 131.050 80.300 0.632 6.860 17.900 276
--------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ --------
LWA050 11 11 2.260 91.450 57.500 0.890 5.030 15.600 193
--------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ --------
LWA050 11 11 2.340 94.400 57.100 0.878 5.150 16.000 197
--------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ --------
LWA050 17 17 2.640 103.350 63.200 0.687 5.760 16.800 214
--------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ --------
LWA050 17 17 2.600 105.300 63.700 0.650 5.700 16.800 220
--------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ --------
LWA050 47 47 3.040 119.650 71.600 0.674 6.110 16.400 248
--------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ --------
LWA050 47 47 3.050 118.250 73.400 0.675 6.120 17.000 249
--------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ --------
LWA050 95 95 3.270 132.600 78.500 0.646 6.730 17.900 273
--------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ --------
LWA050 95 95 3.250 131.900 80.300 0.666 6.760 18.200 277
--------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ --------
LWA050 101 101 3.380 139.100 83.100 0.623 7.050 18.300 290
--------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ --------
LWA050 101 101 3.310 138.750 81.900 0.615 6.950 18.400 289
--------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ --------
LWA050 114 114 3.390 139.950 81.800 0.600 7.050 18.100 291
--------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ --------
LWA050 114 114 3.390 139.600 82.500 0.601 7.080 18.300 292
--------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ --------
LWA051 17 17 3.240 131.400 77.100 0.654 7.140 16.400 272
--------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ --------
LWA051 17 17 3.210 131.200 76.800 0.644 7.110 16.600 271
--------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ --------
LWA051 23 23 3.120 126.150 74.500 0.628 6.650 15.700 259
--------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ --------
LWA051 23 23 3.070 122.450 72.600 0.616 6.500 14.800 252
--------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ --------
LWA051 120 120 3.220 136.300 78.700 0.570 7.150 18.300 283 --------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ -------- LWA051 120 120 3.220 136.650 81.500 0.568 7.210 18.000 286 --------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ -------- LWA051 132 132 2.470 103.550 62.800 0.458 5.470 13.800 212 --------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ -------- LWA051 132 132 2.420 102.150 61.600 0.444 5.370 13.400 208 --------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ -------- LWTB011 0 119 3.730 154.150 88.100 0.446 7.860 22.500 327 --------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ -------- LWTB011 0 119 3.720 150.650 88.700 0.464 7.870 22.400 323 --------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ -------- LWTT108 0 4 3.380 154300 84.000 0.532 8.480 19.800 314 --------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ -------- LWTT109 0 4 3.210 154150 84.500 0.495 9.230 19.700 320 --------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ -------- LWTT110 0 3.2 3.510 148750 87.600 0.547 7.540 18.600 314 --------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ -------- LWTT111 0 2.8 3.670 154150 88.100 0.546 8.090 19.000 323 --------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ -------- LWTT112 0 3.7 3.460 152.050 87.100 0.566 8.000 18.600 317 --------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ -------- LWTT113 0 2.7 3.510 151.000 88.600 0.576 7.840 18.500 317 --------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ -------- LWTT114 0 3.5 3.360 151.350 86.000 0.551 8.280 19.100 316 --------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ -------- LWTT115 0 3.4 3.250 150.500 85.200 0.516 9.530 19.900 317 --------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ -------- LWTT116 0 3.7 3.400 160.300 87.100 0.540 8.990 19.000 330 --------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ -------- LWTT118 0 4 3.620 148.550 86.200 0.631 6.870 16.800 308 --------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ -------- LWTT119 0 3.8 3.270 151.600 84.800 0.558 7.910 17.800 313 --------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ -------- LWTT120 0 4 3.730 154.700 86.500 0.576 7.830 18.500 321 --------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ -------- LWTT121 0 4 3.780 143.100 80.700 0.663 6.380 16.300 293 --------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ -------- LWTT122 0 3.8 3.000 141.900 80.900 0.605 7.510 17.700 294 --------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ -------- LWTT123 0 3.5 3.250 141.350 83.400 0.620 7.270 17.600 296 --------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ -------- LWTT125 0 4 3.250 142.500 81.600 0.641 7.090 16.300 294 --------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ -------- LWTT126 0 4 3.270 142.600 80.300 0.660 6.950 15.900 291 --------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ -------- LWTT127 0 4 3.380 139.250 76.800 0.715 5.680 14.400 278 --------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ -------- LWTT128 0 3.7 3.280 126.650 72.400 0.685 5.830 15.300 258 --------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ -------- LWTT129 0 3.8 4.150 129.800 82.600 0.751 5.670 14.100 276 --------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ -------- LWTT130 0 3.8 2.500 93.350 53.500 0.792 3.820 10.700 183 --------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ -------- LWTT131 0 3.5 3.130 113.700 67.900 0.746 4.420 11.900 229 --------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ -------- LWTT132 0 3.1 4.400 151.700 89.100 0.685 5.530 14.400 313 --------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ -------- LWTT133 0 3.3 4.840 153.100 89.800 0.670 5.920 14.900 317 --------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ -------- LWTT134 0 2.5 4.310 147.850 86.200 0.783 5.280 13.900 302 --------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ -------- LWTT135 0 4 2.960 91.450 55.600 1.060 3.400 13.400 187 --------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ -------- LWTT136 0 4 3.950 136.100 87.200 0.565 7.700 17.300 298 --------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ -------- LWTT137 0 4 3.360 147.500 81.900 0.463 9.380 19.700 308 --------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ --------
APPIX 3 - JORC TABLE ONE
Section 1: Sampling Techniques and Data
Criteria JORC Code explanation Commentary
Sampling techniques Nature and quality of Geological samples were obtained from buckets below the
sampling (eg cut channels, cyclone during aircore drilling. Brine
random chips, or specific samples were obtained during aircore drilling from the
specialised industry cyclone when airlifting at the end
standard measurement tools of each drill rod. Airlifts were completed on minimum air
appropriate to the and sampling took place following
minerals under stabilisation of flow approximately between 2 and 10mins
investigation, such as from start of airlift.
down hole
gamma sondes, or handheld
XRF instruments, etc).
These examples should not
be taken as limiting
the broad meaning of
sampling.
Include reference to
measures taken to ensure
sample representivity and
the appropriate
calibration
of any measurement tools
or systems used.
Aspects of the
determination of
mineralisation that are
Material to the Public
Report.
In cases where 'industry
standard' work has been
done this would be
relatively simple (eg
'reverse circulation
drilling was used to
obtain 1 m samples from
which 3 kg was pulverised
to produce a 30 g charge
for fire assay'). In other
cases more explanation may
be required,
such as where there is
coarse gold that has
inherent sampling
problems. Unusual
commodities
or mineralisation types
(eg submarine nodules) may
warrant disclosure of
detailed information.
=========================== =========================== ============================================================
Drilling techniques Drill type (eg core, Non-face discharge vacuum aircore drilling at 138mm
reverse circulation, diameter.All holes vertical.
open-hole hammer, rotary
air blast, auger, Bangka,
sonic, etc) and details
(eg core diameter, triple
or standard tube, depth of
diamond tails,
face-sampling bit or other
type, whether core is
oriented and if so, by
what method, etc).
Drill sample recovery Method of recording and Geological sample recovery when aircore drilling was
assessing core and chip through the cyclone and of excellent
sample recoveries and quality. Drill rates were slowed to ensure a clean sample
results assessed. was produced and that contamination
Measures taken to maximise was minimised. Cuttings were recovered by placing a clean
sample recovery and ensure bucket under the cycloneBrine samples
representative nature of were obtained following stabilisation of flow approximately
the samples. between 2 and 10mins from start
Whether a relationship of airlift.
exists between sample
recovery and grade and
whether sample bias may
have occurred due to
preferential loss/gain of
fine/coarse material.
=========================== =========================== ============================================================
Logging Whether core and chip All drill holes were geologically logged qualitatively by a
samples have been qualified geologist, noting in
geologically and particular moisture content of sediments, lithology,
geotechnically logged to a colour, induration, grainsize and shape,
level matrix and structural observations. Flow rate data from
of detail to support airlifting was logged to note water
appropriate Mineral inflow zones.
Resource estimation,
mining studies and
metallurgical
studies.
Whether logging is
qualitative or
quantitative in nature.
Core (or costean, channel,
etc)
photography.
The total length and
percentage of the relevant
intersections logged.
Sub-sampling techniques If core, whether cut or Brine samples were obtained during aircore drilling from
and sample preparation sawn and whether quarter, the cyclone when airlifting at the
half or all core taken. end of each drill rod.
If non-core, whether Sample bottles are rinsed with brine which is discarded
riffled, tube sampled, prior to sampling.
rotary split, etc and All brine samples taken in the field are split into two
whether sampled wet or sub-samples: primary and duplicate.
dry. Reference samples were analysed at a separate laboratory
For all sample types, the for QA/QC.
nature, quality and Representative chip trays and bulk lithological samples are
appropriateness of the kept for records.
sample preparation
technique.
Quality control procedures
adopted for all
sub-sampling stages to
maximise representivity
of samples.
Measures taken to ensure
that the sampling is
representative of the in
situ material collected,
including for instance
results for field
duplicate/second-half
sampling.
Whether sample sizes are
appropriate to the grain
size of the material being
sampled.
=========================== =========================== ============================================================
Quality of assay data and The nature, quality and Primary samples were sent to Bureau Veritas Minerals
laboratory tests appropriateness of the Laboratory, Perth.
assaying and laboratory Brine samples were analysed using ICP-AES for K, Na,
procedures used and Mg, Ca, with chloride determined by Mohr
whether the technique is titration and alkalinity determined volumetrically.
considered partial or Sulphate was calculated from the ICP-AES
total. sulphur analysis.
For geophysical tools, * Reference standard solutions were sent to Bureau
spectrometers, handheld Veritas Minerals Laboratory to check accuracy..
XRF instruments, etc, the
parameters used in
determining the analysis
including instrument make
and model, reading times,
calibrations
factors applied and their
derivation, etc.
Nature of quality control
procedures adopted (eg
standards, blanks,
duplicates, external
laboratory
checks) and whether
acceptable levels of
accuracy (ie lack of bias)
and precision have been
established.
Verification of sampling The verification of Data entry is done in the field to minimise transposition
and assaying significant intersections errors.
by either independent or Brine assay results are received from the laboratory in
alternative company digital format, these data sets are
personnel. subject to the quality control described above. All
The use of twinned holes. laboratory results are entered in to the
Documentation of primary company's database and validation completed.
data, data entry Independent verification of significant intercepts was not
procedures, data considered warranted given the
verification, data storage relatively consistent nature of the brine.
(physical
and electronic) protocols.
Discuss any adjustment to
assay data.
=========================== =========================== ============================================================
Location of data points Accuracy and quality of Hole co-ordinates were captured using hand held GPS.
surveys used to locate Coordinates were provided in GDA 94_MGA Zone 51.
drill holes (collar and Topographic control is obtained using Geoscience
down-hole surveys), Australia's 1-second digital elevation product.
trenches, mine workings
and other locations used
in Mineral Resource
estimation.
Specification of the grid
system used.
Quality and adequacy of
topographic control.
Data spacing and Data spacing for reporting Drill hole spacing is shown on the attached map and varies
distribution of Exploration Results. due to irregular access along the
Whether the data spacing lake edge.
and distribution is
sufficient to establish
the degree of geological
and grade continuity
appropriate for the
Mineral Resource and Ore
Reserve estimation
procedure(s)
and classifications
applied.
Whether sample compositing
has been applied.
=========================== =========================== ============================================================
Orientation of data in Whether the orientation of All drill holes and pits were vertical. Geological
relation to geological sampling achieves unbiased structure is considered to be flat lying.
structure sampling of possible
structures and
the extent to which this
is known, considering the
deposit type.
If the relationship
between the drilling
orientation and the
orientation of key
mineralised
structures is considered
to have introduced a
sampling bias, this should
be assessed and reported
if material.
Sample security The measures taken to All brine samples were marked and kept onsite before
ensure sample security. transport to the laboratory.
All remaining sample and duplicates are stored in the Perth
office in climate-controlled conditions.
Chain of Custody system is maintained.
=========================== =========================== ============================================================
Audits or reviews The results of any audits Data review is summarised in Quality of assay data,
or reviews of sampling laboratory tests and Verification of sampling
techniques and data. and assaying. No audits were undertaken.
=========================== =========================== ============================================================
Section 2: Reporting of Exploration Results
Criteria JORC Code explanation Commentary
Mineral tenement and land tenure Type, reference name/number, location Tenements drilled were granted
status and ownership including agreements or exploration licences 38/2710,
material issues 38/2821, 38/2824, 38/3055, 38/3056
with third parties such as joint and 38/3057 in Western Australia.
ventures, partnerships, overriding Exploration Licenses are held by
royalties, native title Piper Preston Pty Ltd (fully owned
interests, historical sites, subsidiary of ASLP).
wilderness or national park and
environmental settings.
The security of the tenure held at
the time of reporting along with any
known impediments
to obtaining a licence to operate in
the area.
====================================== ====================================== ======================================
Exploration done by other parties Acknowledgment and appraisal of No other known exploration has
exploration by other parties. occurred on the Exploration Licenses.
Geology Deposit type, geological setting and Salt Lake Brine Deposit
style of mineralisation.
====================================== ====================================== ======================================
Drill hole Information A summary of all information Details are presented in the report.
material to the understanding of
the exploration results including
a tabulation of the following
information for all Material
drill holes:
o easting and northing of the
drill hole collar
o elevation or RL (Reduced Level
- elevation above sea level in
metres) of the drill hole
collar
o dip and azimuth of the hole
o down hole length and
interception depth
o hole length.
If the exclusion of this
information is justified on the
basis that the information is not
Material and this exclusion does
not detract from the
understanding of the report, the
Competent
Person should clearly explain why
this is the case.
Data aggregation methods In reporting Exploration Results, Within the salt lake extent no low
weighting averaging techniques, grade cut-off or high grade capping
maximum and/or minimum grade has been implemented.
truncations (eg cutting of high
grades) and cut-off grades are
usually Material and should
be stated.
Where aggregate intercepts
incorporate short lengths of high
grade results and longer lengths
of low grade results, the procedure
used for such aggregation should be
stated and some typical
examples of such aggregations should
be shown in detail.
The assumptions used for any
reporting of metal equivalent values
should be clearly stated.
====================================== ====================================== ======================================
Relationship between mineralisation These relationships are particularly The unit is flat lying and drill
widths and intercept lengths important in the reporting of holes are vertical hence the
Exploration Results. intersected downhole depth is
If the geometry of the mineralisation equivalent to the inferred thickness
with respect to the drill hole angle of mineralisation.
is known, its nature
should be reported.
If it is not known and only the down
hole lengths are reported, there
should be a clear statement
to this effect (eg 'down hole length,
true width not known').
Diagrams Appropriate maps and sections (with Addressed in the announcement.
scales) and tabulations of intercepts
should be included
for any significant discovery being
reported These should include, but
not be limited to a
plan view of drill hole collar
locations and appropriate sectional
views.
====================================== ====================================== ======================================
Balanced reporting Where comprehensive reporting of all All results have been included.
Exploration Results is not
practicable, representative
reporting of both low and high grades
and/or widths should be practiced to
avoid misleading
reporting of Exploration Results.
Other substantive exploration data Other exploration data, if meaningful Gravity survey was completed by Atlas
and material, should be reported Geophysics using a Hi Target V100
including (but not GNSS receiver for
limited to): geological observations; accurate positioning and CG-5 Digital
geophysical survey results; Automated Gravity Meter.
geochemical survey results; Gravity data was gained using the
bulk samples - size and method of contractors rapid acquisition, high
treatment; metallurgical test accuracy UTV borne techniques.
results; bulk density, groundwater, The company's own in-house reduction
geotechnical and rock and QA software was used to reduce
characteristics; potential the data on a daily
deleterious or contaminating basis to ensure quality and
substances. integrity. All gravity meters were
calibrated pre and post survey
and meter drift rates were monitored
daily. 3 to 5 % of the stations are
repeated for quality
control.
Western Geophysics were engaged to
manage and process the gravity
survey. Processing the survey
involved reducing the gravity data
and integrating to the regional data
to a residual anomaly
which shows there is a
semi-continuous distinct residual
gravity low of negative 2 to 2.5
milligals present along eastern to
central areas to the entire tenement
area.
====================================== ====================================== ======================================
Further work The nature and scale of planned Exploration aircore drilling to
further work (eg tests for lateral further define the paleochannel
extensions or depth extensions aquifer depth and geometry.
or large-scale step-out drilling). Installation of monitoring bores.
Diagrams clearly highlighting the Further test production bores to be
areas of possible extensions, constructed and test pumping
including the main geological completed to determine, aquifer
interpretations and future drilling properties, expected production rates
areas, provided this information is and infrastructure design (trench and
not commercially sensitive. bore size and
spacing).
Numerical hydrogeological modelling
to be completed that incorporates the
results of the test
pumping. The model will be the basis
of the annual brine abstraction rate
and mine life.
====================================== ====================================== ======================================
For further information please visit www.saltlakepotash.com.au or contact:
Matthew Syme/Sam Cordin Salt Lake Potash Limited Tel: +61 8 9322 6322 Colin Aaronson/Richard Tonthat/Daniel Bush Grant Thornton UK LLP (Nominated Adviser) Tel: +44 (0) 207 383 5100 Nick Tulloch/Beth McKiernan Cenkos Securities plc (Broker) Tel: +44 (0) 131 220 6939
The information contained within this announcement is considered to be inside information, for the purposes of Article 7 of EU Regulation 596/2014, prior to its release.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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