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SO4 Salt Lake Potash Limited

2.45
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Last Updated: 01:00:00
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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

Salt Lake Potash Limited September 2017 Quarterly Report (9937U)

31/10/2017 7:00am

UK Regulatory


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TIDMSO4

RNS Number : 9937U

Salt Lake Potash Limited

31 October 2017

 
 31 October 2017   AIM/ASX Code: SO4 
       SALT LAKE POTASH LIMITED 
    September 2017 Quarterly Report 
------------------------------------ 
 

The Board of Salt Lake Potash Limited (the Company or SLP) is pleased to present its Quarterly Report for the period ending 30 September 2017.

During the quarter, the Company achieved a very important milestone of completing successful validation of the final major technical foundations for production of Sulphate of Potash (SOP) from the Goldfields Salt Lake Potash Project (GSLP).

Highlights for the quarter and subsequently include:

LAKE WELLS

Evaporation Pond Testwork

Ø The Company successfully completed field trials testing its on-lake, unlined evaporation pond model, which will result in significant capital cost advantages for the GSLP.

Ø Comprehensive geological and geotechnical investigation confirms the widespread availability of ideal in-situ clay materials ideal for use in evaporation pond construction. Modelling based on geotechnical properties of the clays confirms the potential to build unlined, on-lake ponds with negligible seepage inefficiency.

Ø Amec Foster Wheeler estimate that comparative costs for 400ha of on-lake ponds are $1.6m (unlined) and $42.2m (HDPE lined), highlighting a significant capex advantage for the Project.

Process Testwork

Ø The Company completed a comprehensive testwork program at globally recognised potash process consultants, Saskatchewan Research Council (SRC) that validated and refined the parameters used in the process plant flowsheet for the GSLP. Importantly, the testwork was conducted on a 60kg representative sample of kainite harvest salt produced on site at Lake Wells.

Ø SRC will conduct further optimisation tests followed by a continuous locked cycle operation, to produce significant quantities of flotation product and SOP for further testing and marketing.

Ø The Site Evaporation Trial (SET) at Lake Wells has now processed approximately 243 tonnes of brine and produced over 5 tonnes of harvest salts.

Surface Aquifer Characterisation and Deep Aquifer Exploration

Ø The Company continued sustained pump tests on test trenches across Lake Wells, providing reliable data for the surface aquifer hydrogeological model for Lake Wells.

Ø The Company mobilised an on-lake drill rig to test deep aquifer characteristics and identify potential high yield portions of the basal aquifer.

Demonstration Plant

Ø The Company and its consultants have substantially advanced the Demonstration Plant study for the GSLP.

LAKE BALLARD

Ø An initial surface aquifer exploration program was completed at Lake Ballard, comprising a total of 160 shallow test pits and 10 test trenches. This work provides preliminary data for the geological and hydrological models for the surface aquifer of the Lake, as well as brine, geological and geotechnical samples.

LAKE IRWIN

Ø A surface aquifer exploration program has commenced at Lake Irwin with the mobilisation of an excavator to undertake an initial campaign of test pit and trench installation. The Company also collected further bulk brine samples for evaporation and process testwork.

The Company's primary focus is to construct a Demonstration Plant at the GSLP, intended to be the first salt-lake brine SOP production operation in Australia. While proceeding with the analysis of options to construct a 20,000-40,000tpa SOP Demonstration Plant at Lake Wells, the Company is also exploring the other lakes in the Goldfields Salt Lakes Project, starting with Lake Ballard and Lake Irwin.

LAKE WELLS

Evaporation Ponds Construction Trial

The Company completed an evaporation pond trial under site conditions at Lake Wells. The field trial involved construction and testing of four test ponds on the Lake Wells Playa, built solely from in-situ clay materials, using a standard 30t excavator, which operated efficiently and effectively on the lake playa. The trial achieved levels of brine seepage from the evaporation ponds well below the threshold for successful operation of halite evaporation ponds, and potentially also for the smaller potassium salt harvest ponds. (for complete details see Stock Exchange announcement dated 16 October 2017)

The capex savings from this construction method are substantial, compared to the alternative of plastic lined ponds. SLP's engineering consultant, Amec Foster Wheeler, estimates the cost of lined ponds to be approximately $10.50 per m(2) , up to 25 times higher than construction costs for unlined ponds.

The 25m x 25m test ponds were designed by SLP's geotechnical consultant, MHA Geotechnical (MHA), to test the constructability and operating performance of a number of pond wall designs and to provide reliable seepage data under site conditions. The observed brine loss in the test ponds was well within the parameters of the hydrodynamic model, indicating losses for a 400ha pond will be below 0.125mm/day.

The Company has identified several opportunities to improve the construction of commercial scale ponds using excavators, along with ancillary equipment to optimize drying and compaction of the clays utilized in pond wall construction. This should result in further improvements in the already very low seepage observed in the trial sized ponds.

SLP plans to now construct an 18ha Pilot scale pond system to further improve the pond design and construction model.

Test Pond Results

Test Pond 3 (TP3) represents the as-modelled embankment construction and is the most likely design for commercial scale embankments. A total of 32 piezometric standpipes and 12 water data loggers were installed in and around all four walls of TP3, along with water level measuring devices on the floor of the pond and in the surrounding trenches, to accurately measure the water levels both in the pond and within the embankments.

The embankment and key are constructed from clay which has been air-dried prior to compaction to ensure target compaction and permeability are achieved. After the embankment and key material is saturated, the seepage from the pond, net of brine evaporation (data from the control pond) represents seepage losses through and below the pond walls. Net seepage losses of less than 3mm per day at test pond scale will substantially validate the shallow lake lithology, geotechnical characteristics and pond construction model for production scale, clay lined, on-lake halite evaporation ponds.

TP3 was initially filled with lake brine to approximately 500mm on 29 August 2017. The small, plastic lined, control pond was also filled to provide an accurate measure of evaporation rates.

Water level and piezometer readings were taken twice daily since and on 18 September 2017 the ponds were topped up, TP3 to approximately 1,000mm in this case, to accelerate wall saturation.

Since initial brine fill, the average net seepage at TP3 equated to approximately 2.4mm per day. This figure includes "losses" to wall saturation as well as to seepage, indicating that steady state seepage losses are comfortably below the 3mm per day threshold modelled for this scale of pond.

Capital Cost Comparison

The Company's engineering consultants, Amec Foster Wheeler, have generated scoping level cost estimates comparing two pond construction options for a 400ha halite pond. For ponds built on-lake on a relatively flat playa, with no provision for salt harvesting, and a 2.0m high wall, Amec Foster Wheeler estimate direct capital costs (accuracy of -10%/+30%) of:

   --        Unlined -  A$1.6m 
   --        Lined - A$42.2m 

The main costs of the lined ponds are the supply and installation of HDPE lining and placement and compaction of a sand bedding layer. If similar ponds were constructed off lake then clearing and levelling costs would be additional.

For either lined or unlined ponds, if salt harvesting is required a layer of halite must first be deposited and compacted, to provide a support base for harvesting equipment. As the Company does not plan to harvest halite from its ponds, these costs are not included in the Amec Foster Wheeler analysis.

Process Testwork

The Company continues a range of process development testwork to enhance the Lake Wells process model.

Site Evaporation Trial

A large scale, continuous Site Evaporation Trial (SET) at Lake Wells successfully completed 12 months of operation under site conditions and through all seasons, confirming the solar evaporation pathway for production of potassium rich harvest salts for processing into SOP. The objective of the SET was to refine process design criteria for the halite evaporation ponds and subsequent harvest salt ponds.

The SET has processed approximately 243 tonnes of Lake Wells brine and produced 5.3 tonnes of harvest salts.

The results of the SET are Australian first and have provided significant knowledge to the Company on the salt crystallisation pathway under site conditions in Australia.

During the quarter, approximately 54t of Lake Wells brine was processed through both trains of the SET, producing approximately 2,100kg of harvest salt at average potassium grades within target parameters. Production levels increased as the temperature (evaporation rates) increased transitioning out of winter into spring.

The large quantity of salt produced via the SET is available for larger scale production of commercial samples for potential customers and partners around the world.

Process Testwork - Saskatchewan Research Council (SRC)

The Company completed testwork at Saskatchewan Research Council (SRC) in Saskatchewan, Canada. SRC is a recognized global leader in potash process metallurgical testing. SRC's Minerals team has the facilities and expertise to design and perform potash processing and metallurgical testing work for the potash industry worldwide. (for complete details see Stock Exchange announcement dated 14 September 2017)

The objective of the SRC testwork was to validate and refine the process parameters used in the production model and process flowsheet at the Company's GSLP. These process parameters were designed by the Company's metallurgical consultants, based on experience overseas and results for GSLP lab testwork in the USA and Australia.

The testwork program was designed to improve the Company's understanding of the processing plant component of the operation using actual Harvest Salts produced from Lake Wells brines under site conditions. These Harvest Salts differ from salts produced in laboratory evaporation trials and provide a much more representative basis from which to develop an economic process route.

The testwork program was designed and managed by the Company and international brine-processing expert Mr Carlos Perucca of Carlos Perucca Processing Consulting Ltd (CPPC).

Overall Potassium Recovery

Single pass SOP conversion from schoenite, including recovery of schoenite from the conversion brine, was calculated as 39.7% in the SRC lab, with the remaining schoenite recycling to the kainite decomposition reactors to recover potassium.

Tests were carried out on recovery of residual potassium from excess flotation brine as kainite, with a 98.2% recovery of potassium from this stream achievable, which is recycled to the plant feed.

This results in an overall potassium recovery of up to 92%, depending on the flotation option and brine handling methods employed in the process development. This compares favourably with performance parameters included in the mass balance models which the Company has generated for its feasibility studies. Future mass balance models will be refined to reflect the SRC results.

The results achieved at SRC compare very favourably to the specifications of products marketed as SOP for agricultural use worldwide where average potassium assays range from 50% to 52% as K(2) O and sulphate assays range from 52% to 54% as SO(4) .

Carlos Perucca of CPPC commented on the SRC results "I am extremely pleased with the results of the SRC testwork and the implied potential for an efficient SOP production process at the Goldfields Salt Lake Project. In my experience the potential recovery indicated by this work is at the high end of recoveries of other SOP operations worldwide."

Next Steps and Process Validation

The work completed by SRC has highlighted several opportunities for further refinement and development of the GSLP SOP process.

SRC has commenced further optimisation tests to validate and duplicate the results achieved to date, followed by a locked-cycle continuous production test to test brine recycle assumptions and obtain product purity information on a continuous basis.

The locked-cycle test will also provide a significant quantity of flotation product to allow crystalliser vendor testing and design work, and also SOP product for product testing and commercial purposes.

Conclusions

The work completed at SRC to date has shown:

   --     Minimal comminution is required to liberate salts for flotation; 
   --     Kainite destruction achieves high conversion to schoenite in 2 hours at ambient conditions; 

-- Both direct and reverse flotation provide viable flow sheet options for further investigation;

   --     Potassium recovery in flotation is high with up to 97.1% achieved in reverse flotation; 

-- Both reverse and direct flotation options present the opportunity to make a second saleable MgSO(4) product with minimal additional processing;

   --     SOP conversion produces high purity (>98%) SOP with a 1.5 hour residence time; and 

-- Global potassium recovery for the process plant may be as high as 92% depending on the flotation option and brine recycle philosophy selected.

Further work is underway to further refine parameters to feed into Pre-Feasibility Study level studies on both the commercial operation and the Demonstration Plant.

Surface Aquifer Exploration Program

The Company has completed a substantial program of work investigating the geological and hydrogeological attributes of the Shallow Lake Bed Sediment hosted brine resource at Lake Wells. The information and data generated will be utilised in the design of the brine extraction system for the GSLP Pilot Plant.

The total program includes 250 test pits and 10 trenches over the lake playa. The test pits are generally 1m wide x 1.5m long and 4.5m deep and confirm lithology and permeability of upper lake bed sediments and demonstrate spatial continuity of the surface aquifer.

Long Term Test Pumping

The Company continued sustained pump tests on three test trenches across Lake Wells. This work provides reliable data for the preparation of a surface aquifer hydrogeological model for Lake Wells.

The testing was conducted as a "constant head test" whereby flow rate was adjusted to maintain a constant trench water level. Drawdown was observed at nearby observation bores placed at distances of 10m, 20m and 50m from the trench.

Trench dimensions and pumping test results are presented in Table 1. Trench length varied from 25m to 50m length. Trench depth was constrained by the capacity of the excavator and the stability of the ground conditions and ranged from 2.2m to 4m below ground surface.

Average flow rates over the duration of testing ranged from 28 to 64m(3) /day. Higher flow rates are associated with evaporite deposits in the Playa Sediments.

These results are very encouraging and continue to support the design of the SOP operation at Lake Wells.

 
   Hole Id     Depth   Trench Length   Test Duration   Total Volume       Average      Final Pumping        Brine 
                                                          Pumped       Pumping Rate         Rate          Chemistry 
------------ 
                (m)         (m)           (days)          (m(3) )       (m(3) /day)     (m(3) /day)        (K mg/L) 
------------  ------  --------------  --------------  --------------  --------------  ---------------  --------------- 
 Trench P2a     2.2         25              9.7             272             28               31             6,055 
------------  ------  --------------  --------------  --------------  --------------  ---------------  --------------- 
 Trench P2b     2.8         25               7              378             54               25             4,762 
------------  ------  --------------  --------------  --------------  --------------  ---------------  --------------- 
 Trench P2c     3.5         25              10              638             64               50             4,355 
------------  ------  --------------  --------------  --------------  --------------  ---------------  --------------- 
 

Table 1: Summary of Trench Test Pumping

Brine chemistry was consistent throughout the duration of the test with the potassium concentrations.

Deep Aquifer Exploration Program

During the quarter, the Company mobilised to Lake Wells a dual mud rotary/diamond drill rig with the capacity to operate on-lake, to complete a drill program on selected on-lake drill targets generated from modelled gravimetric and passive seismic geophysics and a review of existing drilling data. The focus of the on-lake drilling scope is to expand the current geological and aquifer knowledge of the deeper brine aquifer located in the thalweg of the Lake Wells paleochannel.

Process Water

The Company completed an Electromagnetic (EM) geophysical survey to delineate low-salinity groundwater resource for process water at Lake Wells at four prospective areas associated with the upper or shallow aquifer comprised of alluvium, colluvium and calcrete. This geophysical survey targeted the upper 20 to 30 m, in contrast with previous surveys targeting the deeper palaeochannel (deep aquifer).

The EM survey successfully identified a number of drill locations which the Company plans to test in due course.

Aboriginal Heritage and Native Title

Subsequent to the end of the quarter the Company conducted a third aboriginal heritage survey with senior heritage consultants and anthropologists, focussed on the southern area of Lake Wells, where an SOP operation is likely to be located. The survey cleared the Company's current working areas and also highlighted a number of areas of potential heritage value, which it was agreed the Company would avoid in its future operations and work programs.

Subsequent to the end of the quarter the Company was notified of a potential Native Title Claim which includes part of the northern end of Lake Wells. The claim has not yet been registered and the Company will be advised of further details if and when registration occurs, after which the Company would enter discussions with the claimants. However, the Company has completed its major exploration programs in the area and has no current intention of working in the northern part of the Lake, so the claim has no impact on the Company's operations for the time being.

A Heritage Information Submission Form pertaining to the Lake Ballard and Lake Marmion area was lodged with the department of Aboriginal Affairs by a third party. The Company has previously completed two heritage surveys with senior heritage consultants and anthropologists experienced in the area. Accordingly, SLP responded with a Notice under Section 18 of the Aboriginal Heritage Act 1973 in order to have the 'proposed site' assessed by the Aboriginal Cultural Material Committee.

Demonstration Plant

As announced on 20 April 2017, Amec Foster Wheeler have been engaged to prepare an analysis of the alternatives for the Company to construct a Demonstration Plant at the GSLP.

International brine and salt processing experts Carlos Perucca Processing Consulting Ltd (CPPC) and AD Infinitum Ltd (AD Infinitum) are also engaged for the Study.

Substantial progress continues on pond and trench design, mass balance modelling, process flowsheet design, major equipment quotations, costings and transportation alternative studies.

LAKE BALLARD

Surface Aquifer Exploration Program

An initial surface aquifer exploration program was undertaken at Lake Ballard, comprising a total of 160 shallow test pits and 10 test trenches. This work provides preliminary data for the hydrogeological model for the surface aquifer of the Lake, geological and geotechnical information for the upper strata of the Lake and deeper brine samples than previously available.

From the 160 test pits completed in the eastern portion of Lake Ballard revealed a varied (but typical) salt lake playa stratigraphy. The first three test pit transects on the eastern most part of the Lake, to a depth of 3.5m, encountered clayey lacustrine sediments with minor groundwater inflows; however, a number of test pits also encountered higher groundwater inflow associated with zones of indurated and laminated clayey sediments and karstic hardpan. Short-term groundwater inflows associated with test pits in the hardpan are between 10 to 15 L/sec.

Deeper test pits to a depth of 6m were subsequently completed on two transects further east on Lake Ballard, with similar variability in stratigraphy and distribution of the high-yielding hardpan. Despite considerable efforts, the hardpan could not be fully penetrated with excavations being limited to its upper 0.5m, however, groundwater inflows were still significant resulting in rapid inundation of test pits. The stratigraphy is dominated by low-yielding laminated clayey sediments that become indurated with depth; however, there is moderate groundwater inflow associated with evaporative sand horizons that are distributed through the clayey sequence.

Further test pit investigations are proposed to better resolve the distribution of the hardpan and assess the long-term yield potential of the upper stratigraphy for trench development.

Brine was sampled during the excavation process. Brine concentrations from 59 assays from test pits ranged from 1,300 to 2,200 mg/L. The data are presented as Appendix 3.

The Company will now interpret the lithological logs from the test pits and trenches to provide a standardised stratigraphy continuing its assessment of brine extraction potential via trenching, as well as assessing the suitability of the clay lithologies for pond construction. Initial visual interpretation during the excavation process indicated excellent stratigraphy and geotechnical potential similar to results at Lake Wells.

LAKE IRWIN

Surface Aquifer Exploration Program

After completion of the initial surface aquifer exploration program at Lake Ballard, the Company mobilised the excavator to Lake Irwin to gather geological and hydrological data about the shallow brine aquifer hosted by the Quaternary Alluvium stratigraphic sequence in the upper levels of that Lake.

Competent Persons Statement

The information in this report that relates to Exploration Results, or Mineral Resources for Lake Wells and Lake Ballard 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 Director of 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 2 - Summary of Exploration and Mining Tenements

As at 30 September 2017, 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-Jul-17         (%) 
                                                                                                                                                                30-Sep-17 
 Western Australia 
 Lake Wells 
  Central          Granted               -               E38/2710           192.2       5 years    05-Sep-12              4-Sep-17                  100%          100% 
  South            Granted               -               E38/2821           131.5       5 years    19-Nov-13              18-Nov-18                 100%          100% 
  North            Granted               -               E38/2824           198.2       5 years    04-Nov-13              3-Nov-18                  100%          100% 
  Outer East       Granted               -               E38/3055           298.8       5 years    16-Oct-15              16-Oct-20                 100%          100% 
  Single 
   Block           Granted               -               E38/3056            3.0        5 years    16-Oct-15              16-Oct-20                 100%          100% 
  Outer West       Granted               -               E38/3057           301.9       5 years    16-Oct-15              16-Oct-20                 100%          100% 
  North West       Granted               -               E38/3124           39.0        5 years    30-Nov-16              29-Nov-21                 100%          100% 
  West             Granted               -               L38/262            113.0       20 years    3-Feb-17              2-Feb-38                  100%          100% 
                                                                                           20 
  East             Granted               -               L38/263            28.6           years    3-Feb-17              2-Feb-38                  100%          100% 
                                                                                           20 
  South West       Granted               -               L38/264            32.6           years    3-Feb-17              2-Feb-38                  100%          100% 
  South          Application             -               L38/287            95.8        20 years       -                      -                     100%          100% 
  South 
   Western       Application             -               E38/3247           350.3       5 years        -                      -                     100%          100% 
 Lake 
 Ballard 
  West             Granted               -               E29/912            607.0       5 years    10-Apr-15              10-Apr-20                 100%          100% 
  East             Granted               -               E29/913            73.2        5 years    10-Apr-15              10-Apr-20                 100%          100% 
  North            Granted               -               E29/948            94.5        5 years    22-Sep-15              21-Sep-20                 100%          100% 
  South            Granted               -               E29/958            30.0        5 years    20-Jan-16              19-Jan-21                 100%          100% 
  South East       Granted            Granted            E29/1011           68.2        5 years    11-Aug-17              10-Aug-22                 100%          100% 
                                    Application 
  South East     Application           Lodged            E29/1020            9.3           -           -                      -                      -            100% 
                                    Application 
  South East     Application           Lodged            E29/1021           27.9           -           -                      -                      -            100% 
                                    Application 
  South East     Application           Lodged            E29/1022           43.4           -           -                      -                      -            100% 
 Lake Irwin 
  West             Granted               -               E37/1233           203.0       5 years    08-Mar-16              07-Mar-21                 100%          100% 
  Central          Granted               -               E39/1892           203.0       5 years    23-Mar-16              22-Mar-21                 100%          100% 
  East             Granted               -               E38/3087           139.2       5 years    23-Mar-16              22-Mar-21                 100%          100% 
  North            Granted               -               E37/1261           107.3       5 years    14-Oct-16              13-Oct-21                 100%          100% 
  Central 
   East            Granted               -               E38/3113           203.0       5 years    14-Oct-16              13-Oct-21                 100%          100% 
  South            Granted               -               E39/1955           118.9       5 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 
  West             Granted               -               E39/1893           246.2       5 years    01-Apr-16              31-Mar-21                 100%          100% 
  East             Granted               -               E39/1894           158.1       5 years    01-Apr-16              31-Mar-21                 100%          100% 
  Central          Granted               -               E39/1962           369.0       5 years     8-Nov-16              7-Nov-21                  100%          100% 
  Central 
   East            Granted               -               E39/1963           93.0        5 years     8-Nov-16              7-Nov-21                  100%          100% 
  South            Granted               -               E39/1964           99.0        5 years     8-Nov-16              7-Nov-21                  100%          100% 
  South West     Application             -               E39/1965           89.9           -           -                      -                     100%          100% 
 Lake Way 
  Central          Granted               -               E53/1878           217.0       5 years    12-Oct-16              11-Oct-21                 100%          100% 
  South          Application             -               E53/1897           77.5           -           -                      -                     100%          100% 
 Lake 
 Marmion 
  North            Granted               -               E29/1000           167.4       5 years    03-Apr-17              02-Apr-22                 100%          100% 
  Central          Granted               -               E29/1001           204.6       5 years    03-Apr-17              02-Apr-22                 100%          100% 
  South            Granted            Granted            E29/1002           186.0       5 years    15-Aug-17              14-Aug-22                 100%          100% 
  West             Granted            Granted            E29/1005           68.2        5 years    11-Jul-17              10-Jul-22                 100%          100% 
 Lake 
 Noondie 
  North          Application             -               E57/1062           217.0          -           -                      -                     100%          100% 
  Central        Application             -               E57/1063           217.0          -           -                      -                     100%          100% 
  South          Application             -               E57/1064           55.8           -           -                      -                     100%          100% 
  West           Application             -               E57/1065           120.9          -           -                      -                     100%          100% 
 Lake Barlee 
  North          Application             -               E49/495            217.0          -           -                      -                     100%          100% 
  Central        Application             -               E49/496            220.1          -           -                      -                     100%          100% 
  South          Application             -               E77/2441           173.6          -           -                      -                     100%          100% 
 Lake 
 Raeside 
  North          Application             -               E37/1305           155.0          -           -                      -                     100%          100% 
 Northern 
 Territory 
 Lake Lewis 
  South            Granted               -               EL 29787           146.4       6 years    08-Jul-13              7-Jul-19                  100%          100% 
  North            Granted               -               EL 29903           125.1       6 years    21-Feb-14              20-Feb-19                 100%          100% 
============  ================  ==================  =================  ==============  =========  ===========  ==============================  =============  =========== 
 
 

APPIX 1 - LAKE BALLARD TEST PIT LOCATION DATA

 
 Hole_ID     East     North    EOH   Hole_ID    East     North    EOH 
---------  -------  --------  ----  --------  -------  --------  ---- 
 LBTT001    324838   6732081   3.5   LBTT064   321502   6728412   4.1 
---------  -------  --------  ----  --------  -------  --------  ---- 
 LBTT002    324841   6732282   3.5   LBTT065   321703   6728389   4.2 
---------  -------  --------  ----  --------  -------  --------  ---- 
 LBTT003    324840   6732480   3.5   LBTT066   321909   6728367   4.2 
---------  -------  --------  ----  --------  -------  --------  ---- 
 LBTT004    324839   6732688   3.5   LBTT067   322100   6728344   4.2 
---------  -------  --------  ----  --------  -------  --------  ---- 
 LBTT005    324839   6732881   3.5   LBTT068   319222   6730192   4.1 
---------  -------  --------  ----  --------  -------  --------  ---- 
 LBTT006    324840   6733080   4.3   LBTT069   319004   6730195   4.2 
---------  -------  --------  ----  --------  -------  --------  ---- 
 LBTT007    324838   6733285    4    LBTT070   318802   6730198   4.3 
---------  -------  --------  ----  --------  -------  --------  ---- 
 LBTT008    324844   6733481   4.3   LBTT071   318604   6730200   4.2 
---------  -------  --------  ----  --------  -------  --------  ---- 
 LBTT009    324840   6733680   3.5   LBTT072   318364   6731106   4.2 
---------  -------  --------  ----  --------  -------  --------  ---- 
 LBTT010    324844   6733880   4.1   LBTT073   318513   6731235   5.5 
---------  -------  --------  ----  --------  -------  --------  ---- 
 LBTT011    324848   6734075   4.1   LBTT074   318664   6731366   4.2 
---------  -------  --------  ----  --------  -------  --------  ---- 
 LBTT012    324853   6734274   4.2   LBTT075   318810   6731492   4.2 
---------  -------  --------  ----  --------  -------  --------  ---- 
 LBTT013    324860   6734472   4.2   LBTT076   318936   6731596   4.2 
---------  -------  --------  ----  --------  -------  --------  ---- 
 LBTT014    324869   6734673   4.3   LBTT077   319077   6731719   4.2 
---------  -------  --------  ----  --------  -------  --------  ---- 
 LBTT015    324875   6734875   4.6   LBTT078   319224   6731844   4.3 
---------  -------  --------  ----  --------  -------  --------  ---- 
 LBTT016    324648   6734154   4.3   LBTT079   319344   6731947   4.2 
---------  -------  --------  ----  --------  -------  --------  ---- 
 LBTT017    324447   6734155   4.3   LBTT080   319491   6732075   4.2 
---------  -------  --------  ----  --------  -------  --------  ---- 
 LBTT018    324250   6734155   4.3   LBTT081   319626   6732190    4 
---------  -------  --------  ----  --------  -------  --------  ---- 
 LBTT019    324047   6734155   4.3   LBTT082   319787   6732309   3.5 
---------  -------  --------  ----  --------  -------  --------  ---- 
 LBTT020    323847   6734155   2.5   LBTT083   319908   6732429   3.5 
---------  -------  --------  ----  --------  -------  --------  ---- 
 LBTT021    323650   6734155    4    LBTT084   320056   6732555   3.5 
---------  -------  --------  ----  --------  -------  --------  ---- 
 LBTT022    323447   6734155    4    LBTT085   320222   6732698    3 
---------  -------  --------  ----  --------  -------  --------  ---- 
 LBTT023    323249   6734154   4.3   LBTT086   320363   6732820   3.5 
---------  -------  --------  ----  --------  -------  --------  ---- 
 LBTT024    323047   6734155   4.3   LBTT087   320625   6733158   3.5 
---------  -------  --------  ----  --------  -------  --------  ---- 
 LBTT025    323838   6734261   4.3   LBTT088   320750   6733291   3.5 
---------  -------  --------  ----  --------  -------  --------  ---- 
 LBTT026    323839   6734212   4.2   LBTT089   318231   6731373    3 
---------  -------  --------  ----  --------  -------  --------  ---- 
 LBTT027    323845   6734107   4.3   LBTT090   318381   6731395    3 
---------  -------  --------  ----  --------  -------  --------  ---- 
 LBTT028    323847   6734054   4.3   LBTT091   318440   6731314    3 
---------  -------  --------  ----  --------  -------  --------  ---- 
 LBTT029    322938   6730204   4.3   LBTT092   318527   6731292    3 
---------  -------  --------  ----  --------  -------  --------  ---- 
 LBTT030    322735   6730202   4.2   LBTT093   318556   6731270    3 
---------  -------  --------  ----  --------  -------  --------  ---- 
 LBTT031    322531   6730201   4.3   LBTT094   318563   6731230    3 
---------  -------  --------  ----  --------  -------  --------  ---- 
 LBTT032    322331   6730190   4.3   LBTT095   318543   6731201    3 
---------  -------  --------  ----  --------  -------  --------  ---- 
 LBTT033    322133   6730194   4.3   LBTT096   318510   6731192    3 
---------  -------  --------  ----  --------  -------  --------  ---- 
 LBTT034    321932   6730193   4.2   LBTT097   318480   6731207    3 
---------  -------  --------  ----  --------  -------  --------  ---- 
 LBTT035    321732   6730186   4.2   LBTT098   318464   6731237   4.1 
---------  -------  --------  ----  --------  -------  --------  ---- 
 LBTT036    321529   6730189    4    LBTT099   316105   6731412   4.2 
---------  -------  --------  ----  --------  -------  --------  ---- 
 LBTT037    321336   6730180    4    LBTT100   316051   6731653   5.5 
---------  -------  --------  ----  --------  -------  --------  ---- 
 LBTT038    321137   6730178   4.3   LBTT101   315997   6731866    5 
---------  -------  --------  ----  --------  -------  --------  ---- 
 LBTT039    320936   6730174   4.3   LBTT102   315946   6732059    6 
---------  -------  --------  ----  --------  -------  --------  ---- 
 LBTT040    320727   6730173   4.3   LBTT103   315997   6731866    5 
---------  -------  --------  ----  --------  -------  --------  ---- 
 LBTT041    320527   6730170   4.3   LBTT104   315855   6732440   5.5 
---------  -------  --------  ----  --------  -------  --------  ---- 
 LBTT042    320330   6730167   4.3   LBTT105   315815   6732626    6 
---------  -------  --------  ----  --------  -------  --------  ---- 
 LBTT043    320136   6730166   4.1   LBTT106   315764   6732827    6 
---------  -------  --------  ----  --------  -------  --------  ---- 
 LBTT044    319937   6730160   4.2   LBTT107   315704   6733021    6 
---------  -------  --------  ----  --------  -------  --------  ---- 
 LBTT045    319738   6730151   4.2   LBTT108   315620   6733218   66 
---------  -------  --------  ----  --------  -------  --------  ---- 
 LBTT046    320132   6730100   4.2   LBTT109   315603   6733390   5.6 
---------  -------  --------  ----  --------  -------  --------  ---- 
 LBTT047    320136   6730206   4.2   LBTT110   315538   6733588    6 
---------  -------  --------  ----  --------  -------  --------  ---- 
 LBTT048    320126   6729902   4.3   LBTT111   315476   6733775   5.5 
---------  -------  --------  ----  --------  -------  --------  ---- 
 LBTT049    320258   6730012   4.2   LBTT112   315395   6733959   5.5 
---------  -------  --------  ----  --------  -------  --------  ---- 
 LBTT050    318601   6728705   4.3   LBTT113   315314   6734154   5.5 
---------  -------  --------  ----  --------  -------  --------  ---- 
 LBTT051    318807   6728688   4.3   LBTT115   315240   6734314   5.8 
---------  -------  --------  ----  --------  -------  --------  ---- 
 LBTT052    319001   6728663   3.5   LBTT116   316375   6734039   5.8 
---------  -------  --------  ----  --------  -------  --------  ---- 
 LBTT053    319201   6728663   3.5   LBTT117   316521   6734168   3.8 
---------  -------  --------  ----  --------  -------  --------  ---- 
 LBTT054    319406   6728628   3.5   LBTT118   316666   6734306   5.5 
---------  -------  --------  ----  --------  -------  --------  ---- 
 LBTT055    319603   6728608   3.5   LBTT119   316817   673445    5.5 
---------  -------  --------  ----  --------  -------  --------  ---- 
 LBTT056    319804   6728588   3.5   LBTT120   316962   6734577   5.8 
---------  -------  --------  ----  --------  -------  --------  ---- 
 LBTT057    320003   6728568   4.3   LBTT121   317107   6734708   5.8 
---------  -------  --------  ----  --------  -------  --------  ---- 
 LBTT058    320209   6728546    4    LBTT122   317251   6734840    6 
---------  -------  --------  ----  --------  -------  --------  ---- 
 LBTT063    321301   6728433   4.3   LBTT123   317399   6734975    6 
---------  -------  --------  ----  --------  -------  --------  ---- 
 LBTT124    317694   6732520    6    LBTT143   312850   6735049   5.5 
---------  -------  --------  ----  --------  -------  --------  ---- 
 LBTT125    317839   6735385    6    LBTT144   312822   6734850    6 
---------  -------  --------  ----  --------  -------  --------  ---- 
 LBTT126    317986   6735519   3.2   LBTT145   312797   6734660   5.6 
---------  -------  --------  ----  --------  -------  --------  ---- 
 LBTT127    318137   6735660   2.2   LBTT146   313435   6734436   5.5 
---------  -------  --------  ----  --------  -------  --------  ---- 
 LBTT128    318282   6735794   2.2   LBTT147   313401   6734248   5.7 
---------  -------  --------  ----  --------  -------  --------  ---- 
 LBTT129    318428   6735928   5.5   LBTT148   313373   6734052    6 
---------  -------  --------  ----  --------  -------  --------  ---- 
 LBTT130    318574   6736061   5.7   LBTT149   313340   6733847   2.1 
---------  -------  --------  ----  --------  -------  --------  ---- 
 LBTT131    313153   6737408   5.5   LBTT150   313323   6733652   1.8 
---------  -------  --------  ----  --------  -------  --------  ---- 
 LBTT132    313132   6737224   5.5   LBTT151   313294   6733456    6 
---------  -------  --------  ----  --------  -------  --------  ---- 
 LBTT133    313105   6737027    6    LBTT152   313263   6733261    6 
---------  -------  --------  ----  --------  -------  --------  ---- 
 LBTT134    313082   6736829   5.7   LBTT153   313237   6733066    6 
---------  -------  --------  ----  --------  -------  --------  ---- 
 LBTT135    313051   6736634   4.2   LBTT154   313199   6732870    6 
---------  -------  --------  ----  --------  -------  --------  ---- 
 LBTT136    313029   6736432    6    LBTT155   313175   6732666    6 
---------  -------  --------  ----  --------  -------  --------  ---- 
 LBTT137    313004   6736240    6    LBTT156   313143   6732468   5.7 
---------  -------  --------  ----  --------  -------  --------  ---- 
 LBTT138    312977   6736040    6    LBTT157   313111   6732280    6 
---------  -------  --------  ----  --------  -------  --------  ---- 
 LBTT139    312951   6735843    6    LBTT158   313085   6792071   6.5 
---------  -------  --------  ----  --------  -------  --------  ---- 
 LBTT140    312932   6735648    6    LBTT159   313057   6731878   6.3 
---------  -------  --------  ----  --------  -------  --------  ---- 
 LBTT141    312898   6735453    6    LBTT160   313025   6731681   6.3 
---------  -------  --------  ----  --------  -------  --------  ---- 
 LBTT142    312874   6735244   3.5 
---------  -------  --------  ---- 
 

APPIX 2 - LAKE BALLARD 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) 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 LBTT011      0     4.1       2.130        159.000       86.300         0.938         8.380         7.350      263.350 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 LBTT014      0     4.3       1.770        123.250       69.500         0.892         5.700         5.220      208.200 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 LBTT015      0     4.6       1.040        70.750        40.300         0.735         3.210         3.510      118.100 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 LBTT016      0     4.3       1.770        126.600       70.500         1.050         5.820         5.490      207.650 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 LBTT017      0     4.3       2.040        145.850       81.500         1.050         7.100         6.210      233.400 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 LBTT018      0     4.3       2.060        142.200       82.300         1.070         6.980         6.150      230.650 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 LBTT019      0     4.3       2.140        154.250       86.200         1.040         7.840         7.110      246.850 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 LBTT020      0     2.5       2.050        147.250       80.500         1.080         7.300         6.450      240.150 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 LBTT021      0      4        1.870        131.150       73.600         1.140         6.200         5.910      213.000 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 LBTT022      0      4        1.760        119.600       66.700         1.080         5.540         5.400      195.000 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 LBTT023      0     4.3       1.730        120.300       66.400         1.070         5.570         5.310      200.650 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 LBTT024      0     4.3       1.740        122.200       66.600         1.050         5.570         5.310      202.400 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 LBTT025      0     4.3       2.200        151.100       87.900         1.120         7.470         7.260      247.650 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 LBTT026      0     4.2       2.140        144.150       82.200         1.160         6.750         6.510      232.200 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 LBTT027      0     4.3       2.110        145.000       83.200         1.090         7.030         6.720      241.750 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 LBTT028      0     4.3       2.110        145.000       81.100         1.170         6.880         6.450      240.600 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 LBTT030      0     4.2       2.350        159.150       90.400         1.200         7.900         7.620      261.050 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 LBTT031      0     4.3       2.160        160.050       89.600         1.180         7.830         7.470      266.250 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 LBTT043      0     4.1       2.040        155.650       88.300         1.050         8.040         8.580      262.350 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 LBTT046      0     4.2       1.490        109.450       63.400         1.570         5.380         7.650      185.600 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 LBTT047      0     4.2       1.720        129.300       74.500         1.310         6.440         8.250      223.850 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 LBTT050      0     4.3       1.390        96.900        60.100         1.440         3.940         5.820      162.200 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 LBTT053      0     3.5       2.040        154.200       91.900         1.120         7.830         9.030      261.900 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 LBTT054      0     3.5       1.980        154.400       88.700         1.100         7.590         8.550      260.600 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 LBTT055      0     3.5       2.080        153.850       90.600         1.210         7.230         7.860      261.800 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 LBTT056      0     3.5       1.900        152.600       90.700         1.010         7.990         9.360      259.750 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 LBTT057      0     4.3       2.180        159.350       94.200         1.130         7.670         8.250      271.000 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 LBTT058      0      4        2.170        153.500       90.000         1.310         6.450         6.480      260.050 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 LBTT059      0      4        2.000        157.550       93.600         1.070         7.800         9.000      251.900 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 LBTT060      0      4        1.940        153.500       88.700         1.110         7.770         8.640      246.250 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 LBTT061      0      4        1.960        152.800       86.400         1.060         7.830         8.790      241.550 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 LBTT063      0     4.3       2.110        156.700       89.800         1.090         7.860         8.370      247.000 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 LBTT064      0     4.1       2.080        157.050       89.600         1.150         7.390         8.130      247.650 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 LBTT065      0     4.2       2.070        150.150       88.600         1.280         6.860         7.560      238.450 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 LBTT071      0     4.2       2.170        159.700       93.500         1.030         7.970         8.910      255.650 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 LBTT072      0     4.2       2.100        160.400       94.500         1.070         7.650         9.090      264.350 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 LBTT073      0     5.5       2.020        155.800       92.100         1.060         7.280         8.580      252.350 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 LBTT074      0     4.2       1.940        153.700       88.900         1.170         7.020         8.400      259.700 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 LBTT075      0     4.2       2.050        158.450       94.200         1.130         7.280         8.400      266.500 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 LBTT076      0     4.2       1.970        150.300       86.600         1.230         6.570         7.650      241.450 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 LBTT076      0     4.2       2.010        151.400       90.400         1.260         6.610         7.800      249.350 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 LBTT077      0     4.2       2.000        156.350       93.400         1.060         7.440         8.640      251.450 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 LBTT078      0     4.3       1.900        155.100       90.000         1.090         7.360         8.430      247.050 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 LBTT079      0     4.2       1.930        158.800       90.100         1.020         7.540         8.580      255.450 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 LBTT080      0     4.2       1.920        155.250       88.800         1.020         7.880         9.270      252.550 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 LBTT081      0      4        1.870        151.200       87.100         1.100         7.830         9.600      247.750 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 LBTT082      0     3.5       1.890        151.050       88.300         1.020         8.230         9.600      247.200 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 LBTT082      0     3.5       1.900        150.700       87.300         1.020         8.170        10.000      248.350 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 LBTT083      0     3.5       1.940        157.950       91.700         0.935         8.690        10.200      263.600 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 LBTT084      0     3.5       1.960        158.300       91.000         0.892         9.080        10.700      268.350 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 LBTT099      0     4.2       1.980        162.250       95.200         0.978         7.950         8.340      268.000 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 LBTT100      0     5.5       2.040        160.300       90.700         0.996         7.950         8.100      266.000 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 LBTT100      0     5.5       2.040        160.300       90.700         0.996         7.950         8.100      266.000 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 LBTT101      0      5        2.040        158.200       88.200         1.020         7.950         8.100      263.000 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 LBTT103      0      5        2.050        162.100       93.600         0.987         8.340         8.970      269.000 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 LBTT105      0      6        2.070        168.200       98.700         0.862         8.850         9.390      280.000 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 LBTT106      0      6        2.030        158.050       94.000         1.060         7.890         8.820      263.000 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 LBTT107      0      6        2.050        164.900       95.000         0.918         8.550         9.360      273.000 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 LBTT109      0     5.6       2.030        163.150       96.800         0.935         8.230         9.060      272.000 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 LBTT110      0      6        2.010        155.400       91.700         1.070         7.490         7.890      259.000 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 LBTT112      0     5.5       2.080        161.550       92.700         0.959         8.200         8.580      269.000 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 LBTT113      0     5.5       2.160        166.300       96.500         0.909         8.790         8.880      278.000 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 LBTT114      0     5.8       2.160        165.250       96.500         0.949         8.500         8.970      276.000 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 LBTT115      0     5.8       2.190        158.900       91.100         1.020         8.080         8.190      265.000 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 LBTT116      0     3.8       2.130        156.300       91.100         1.030         7.550         7.680      261.000 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 LBTT119      0     5.8       2.230        163.850       95.600         1.140         8.120         8.220      273.000 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 LBTT123      0      6        2.070        154.700       92.800         1.050         7.450         8.190      258.000 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 LBTT125      0      6        2.030        150.150       85.100         1.070         7.390         7.920      251.000 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 LBTT126      0     3.2       1.960        144.900       85.600         1.330         6.520         6.900      243.000 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 LBTT127      0     2.2       2.050        146.650       87.100         1.290         6.830         7.080      246.000 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 LBTT128      0     2.2       2.040        145.450       87.100         1.300         6.710         7.140      243.000 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 LBTT129      0     5.5       2.080        151.900       88.000         1.180         7.110         7.410      256.000 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 LBTT131      0     5.5       1.310        96.700        58.000         0.996         4.420         5.250      163.000 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 LBTT132      0     5.5       2.060        153.150       91.800         1.170         6.850         7.110      258.000 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 LBTT133      0      6        2.060        158.750       94.600         1.020         7.470         8.400      269.000 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 LBTT134      0     5.7       2.100        161.050       94.300         1.030         7.490         7.740      271.000 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 LBTT135      0     4.2       2.110        159.800       93.400         1.020         7.390         8.160      270.000 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 LBTT136      0      6        2.040        156.450       91.400         1.020         7.460         8.040      263.000 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 LBTT142      0     3.5       1.970        152.600       89.700         0.959         7.650         8.340      257.000 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 LBTT143      0     5.5       1.950        154.900       91.600         0.968         7.570         8.910      261.000 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 LBTT145      0     5.6       1.780        140.700       86.100         1.090         6.030         7.080      238.000 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 LBTT149      0     2.1       1.720        147.700       84.700         0.993         6.650         7.710      253.000 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 LBTT150      0     1.8       1.750        148.400       86.700         1.060         6.950         8.520      257.000 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 LBTT156      0     5.7       1.860        156.650       89.800         0.939         7.900         9.060      270.000 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 

A0PPIX 3 - LAKE WELLS 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) 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 Trench 
  P1g         0      4        4.520        162.400       97.800         0.646         6.600        14.400      288.000 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 Trench 
  P2b         0     2.8       4.500        145.350       90.700         0.498         6.870        20.400      273.100 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 Trench 
  P2b         0     2.8       5.920        185.600       112.000        0.394         8.610        18.200      332.100 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 Trench 
  P2b         0     2.8       2.570        137.950       86.100         1.020         3.600         9.480      239.150 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 Trench 
  P2a         0     2.2       9.150        186.150       104.000        0.300        12.600        26.200      341.400 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 Trench 
  P2a         0     2.2       6.030        188.250       108.000        0.409         8.050        17.400      333.550 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 Trench 
  P2a         0     2.2       5.810        187.700       110.000        0.426         7.780        16.700      333.300 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 Trench 
  P2a         0     2.2       5.880        189.800       109.000        0.393         7.820        17.200      333.850 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 Trench 
  P2a         0     2.2       5.850        188.400       113.000        0.435         7.840        17.200      334.100 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 Trench 
  P2a         0     2.2       5.760        188.050       109.000        0.425         7.740        17.000      334.700 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 Trench 
  P2a         0     2.2       5.990        188.950       110.000        0.412         8.000        17.800      334.250 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 Trench 
  P2a         0     2.2       5.870        187.900       109.000        0.417         7.760        17.500      333.500 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 Trench 
  P2a         0     2.2       5.700        180.000       108.000        0.432         7.550        17.300      333.500 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 Trench 
  P2b         0     2.8       5.140        172.650       103.000        0.520         7.470        16.400      307.300 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 Trench 
  P2a         0     2.2       4.920        163.350       95.500         0.584         7.140        15.700      293.500 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 Trench 
  P2b         0     2.8       5.060        166.700       101.000        0.568         7.320        17.000      298.250 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 Trench 
  P2b         0     2.8       4.910        163.200       95.100         0.578         7.110        16.000      294.150 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 Trench 
  P2a         0     2.2       5.650        178.250       106.000        0.482         7.370        16.700      319.400 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 Trench 
  P2b         0     2.8       4.980        164.050       98.500         0.567         7.160        16.300      295.250 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 Trench 
  P2b         0     2.8       4.820        160.750       96.600         0.580         6.930        15.400      288.000 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 Trench 
  P2b         0     2.8       4.830        161.450       94.100         0.569         6.960        15.900      291.150 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 Trench 
  P2b         0     2.8       4.820        160.200       94.700         0.583         6.950        15.700      286.150 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 Trench 
  P2b         0     2.8       4.860        161.950       96.300         0.578         6.970        15.700      289.850 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 Trench 
  P2b         0     2.8       4.770        161.450       96.700         0.594         6.970        15.700      287.700 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 Trench 
  P2b         0     2.8       4.730        160.050       95.000         0.594         6.810        15.200      287.300 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 Trench 
  P2c         0      3        4.930        100.000       157.500        0.530         6.500        19.100      287.900 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 Trench 
  P2c         0      3        4.330        87.500        141.550        0.626         5.800        17.300      260.200 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 Trench 
  P2c         0      3        4.370        87.300        142.050        0.630         5.820        17.300      259.350 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 Trench 
  P2c         0      3        4.350        87.600        138.200        0.644         5.750        17.300      255.050 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 Trench 
  P2c         0      3        4.290        85.300        138.400        0.636         5.730        17.100      255.450 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 Trench 
  P2c         0      3        4.260        85.500        138.900        0.632         5.730        17.000      254.400 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 Trench 
  P2c         0      3        4.260        84.100        138.400        0.626         5.630        16.800      254.650 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 Trench 
  P2c         0      3        4.340        85.500        139.100        0.633         5.730        17.200      254.850 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 Trench 
  P2c         0      3        4.230        87.000        138.050        0.663         5.740        17.900      255.350 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 Trench 
  P2c         0      3        4.240        87.400        139.600        0.656         5.760        17.100      253.850 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 Trench 
  P2c         0      3        4.250        87.300        138.900        0.654         5.800        17.200      254.150 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 Trench 
  P2c         0      3        4.310        88.000        141.550        0.648         5.850        17.500      254.900 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 Trench 
  P2c         0      3        4.460        89.900        142.100        0.666         6.000        17.900      257.550 
---------  ------  -----  ------------  ------------  ------------  ------------  ------------  ------------  -------- 
 

APPIX 4 - JORC TABLE ONE

Section 1: Sampling Techniques and Data

 
 Criteria                                JORC Code explanation                   Commentary 
 Sampling techniques                     Nature and quality of sampling (eg      Lake Wells and Lake Ballard 
                                         cut channels, random chips, or          Geological samples were obtained from 
                                         specific specialised industry           the excavator bucket at regular depth 
                                         standard measurement tools              intervals. 
                                         appropriate to the minerals under       Brine samples were taken from the 
                                         investigation, such as down hole        discharge of trench dewatering pumps. 
                                         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, reverse            Lake Wells and Lake Ballard 
                                         circulation, open-hole hammer, rotary   Excavation with a low ground pressure 
                                         air blast, auger, Bangka,               excavator. 
                                         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 assessing       Lake Wells and Lake Ballard 
                                         core and chip sample recoveries and      Not applicable for trenching. 
                                         results assessed. 
                                         Measures taken to maximise sample 
                                         recovery and ensure representative 
                                         nature of the samples. 
                                         Whether a relationship 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 samples have      Lake Wells and Lake Ballard 
                                         been geologically and geotechnically    All trenches and test pits were 
                                         logged to a level                       geologically logged qualitatively by 
                                         of detail to support appropriate        a qualified geologist, 
                                         Mineral Resource estimation, mining     noting in particular moisture content 
                                         studies and metallurgical               of sediments, lithology, colour, 
                                         studies.                                induration, grainsize 
                                         Whether logging is qualitative or       and shape, matrix and structural 
                                         quantitative in nature. Core (or        observations. Flow rate data was 
                                         costean, channel, etc)                  logged to note water inflow 
                                         photography.                            zones. 
                                         The total length and percentage of 
                                         the relevant intersections logged. 
 Sub-sampling techniques and sample      If core, whether cut or sawn and        Brine samples were taken from the 
 preparation                             whether quarter, half or all core       discharge of trench dewatering pumps. 
                                         taken.                                  Sample bottles are rinsed with brine 
                                         If non-core, whether riffled, tube      which is discarded prior to sampling. 
                                         sampled, rotary split, etc and          All brine samples taken in the field 
                                         whether sampled wet or dry.             are split into two sub-samples: 
                                         For all sample types, the nature,       primary and duplicate. 
                                         quality and appropriateness of the      Reference samples were analysed at a 
                                         sample preparation technique.           separate laboratory for QA/QC. 
                                         Quality control procedures adopted      Representative chip trays and bulk 
                                         for all sub-sampling stages to          lithological samples are kept for 
                                         maximise representivity                 records. 
                                         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 laboratory    The nature, quality and                 Primary samples were sent to Bureau 
 tests                                   appropriateness of the assaying and     Veritas Minerals Laboratory, Perth. 
                                         laboratory procedures used and          Brine samples were analysed using 
                                         whether the technique is considered     ICP-AES for K, Na, Mg, Ca, with 
                                         partial or total.                       chloride determined by Mohr 
                                         For geophysical tools, spectrometers,   titration and alkalinity determined 
                                         handheld XRF instruments, etc, the      volumetrically. Sulphate was 
                                         parameters used in                      calculated from the ICP-AES 
                                         determining the analysis including      sulphur analysis. 
                                         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 and assaying   The verification of significant         Data entry is done in the field to 
                                         intersections by either independent     minimise transposition errors. 
                                         or alternative company                  Brine assay results are received from 
                                         personnel.                              the laboratory in digital format, 
                                         The use of twinned holes.               these data sets are 
                                         Documentation of primary data, data     subject to the quality control 
                                         entry procedures, data verification,    described above. All laboratory 
                                         data storage (physical                  results are entered in to the 
                                         and electronic) protocols.              company's database and validation 
                                         Discuss any adjustment to assay data.   completed. 
                                                                                 Independent verification of 
                                                                                 significant intercepts was not 
                                                                                 considered warranted given the 
                                                                                 relatively consistent nature of the 
                                                                                 brine. 
 Location of data points                 Accuracy and quality of surveys used    Trench and test pit co-ordinates were 
                                         to locate drill holes (collar and       captured using hand held GPS. 
                                         down-hole surveys),                     Coordinates were provided in GDA 
                                         trenches, mine workings and other       94_MGA Zone 51. 
                                         locations used in Mineral Resource      Topographic control is obtained using 
                                         estimation.                             Geoscience Australia's 1-second 
                                         Specification of the grid system        digital elevation product. 
                                         used. 
                                         Quality and adequacy of topographic 
                                         control. 
 Data spacing and distribution           Data spacing for reporting of           Lake Wells and Lake Ballard 
                                         Exploration Results.                    Trench hole spacing is shown on the 
                                         Whether the data spacing and            attached maps and varies due to 
                                         distribution is sufficient to           irregular access along 
                                         establish the degree of geological      the lake edge. 
                                         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 relation to      Whether the orientation of sampling     Trenches and test pits were vertical. 
 geological structure                    achieves unbiased sampling of           Geological structure is considered to 
                                         possible structures and                 be flat lying. 
                                         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 ensure sample     All brine samples were marked and 
                                         security.                               kept onsite before 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 or reviews    Data review is summarised in Quality 
                                         of sampling techniques and data.        of assay data, laboratory tests and 
                                                                                 Verification of sampling 
                                                                                 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   Lake Wells 
 status                                  and ownership including agreements or   Tenements excavated were granted 
                                         material issues                         exploration licences 38/2710, 
                                         with third parties such as joint        38/2821, 38/2824, 38/3055, 
                                         ventures, partnerships, overriding      38/3056 and 38/3057 in Western 
                                         royalties, native title                 Australia. 
                                         interests, historical sites, 
                                         wilderness or national park and         Lake Ballard 
                                         environmental settings.                 Tenements sampled 29/912, 29/913, 
                                         The security of the tenure held at      29/948 and 29/958 in Western 
                                         the time of reporting along with any    Australia. 
                                         known impediments                       Exploration Licenses are held by 
                                         to obtaining a licence to operate in    Piper Preston Pty Ltd (fully owned 
                                         the area.                               subsidiary of ASLP). 
 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        Lake Wells and Lake Ballard 
                                             material to the understanding of     Details are presented in the report. 
                                             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    Lake Wells and Lake Ballard 
 widths and intercept lengths            important in the reporting of           The unit is flat lying and trenches 
                                         Exploration Results.                    and pits are vertical hence the 
                                         If the geometry of the mineralisation   intersected downhole depth 
                                         with respect to the drill hole angle    is equivalent to the inferred 
                                         is known, its nature                    thickness of mineralisation. 
                                         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         Further trench testing and numerical 
                                         further work (eg tests for lateral      hydrogeological modelling to be 
                                         extensions or depth extensions          completed that incorporates 
                                         or large-scale step-out drilling).      the results of the test pumping. The 
                                         Diagrams clearly highlighting the       model will be the basis of the annual 
                                         areas of possible extensions,           brine abstraction 
                                         including the main geological           rate and mine life. 
                                         interpretations and future drilling 
                                         areas, provided this information is     Further sampling and drilling to 
                                         not commercially sensitive.             assess the occurrence of brine at 
                                                                                 depth. 
                                                                                 Closer spaced, more evenly distribute 
                                                                                 drilling, particularly to define the 
                                                                                 thickness of the 
                                                                                 LPS unit. 
                                                                                 Hydraulic testing be undertaken, for 
                                                                                 instance pumping tests from bores 
                                                                                 and/or trenches to 
                                                                                 determine, aquifer properties, 
                                                                                 expected production rates and 
                                                                                 infrastructure design (trench 
                                                                                 and bore size and spacing). 
                                                                                 Lake recharge dynamics be studied to 
                                                                                 determine the lake water balance and 
                                                                                 subsequent production 
                                                                                 water balance. For instance 
                                                                                 simultaneous data recording of 
                                                                                 rainfall and subsurface brine level 
                                                                                 fluctuations to understand the 
                                                                                 relationship between rainfall and 
                                                                                 lake recharge, and hence 
                                                                                 the brine recharge dynamics of the 
                                                                                 Lake. 
                                                                                 Study of the potential solid phase 
                                                                                 soluble or exchangeable potassium 
                                                                                 resource. 
======================================  ======================================  ====================================== 
 

For further information please visit www.saltlakepotash.com.au or contact:

 
 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 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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