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Salt Lake Potash Npv NEX:SO4.GB NEX Common Stock
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Salt Lake Potash Limited Initial Results Confirm Lake Way Potential

25/04/2018 10:25am

UK Regulatory (RNS & others)


TIDMSO4

RNS Number : 0097M

Salt Lake Potash Limited

25 April 2018

 
 25 April 2018   AIM/ASX Code: SO4 
 
 
          SALT LAKE POTASH LIMITED 
  Initial Results Confirm Lake Way Potential 
-------------------------------------------- 
 

Salt Lake Potash Limited (SLP or the Company) is pleased to provide an update on the Company's Lake Way project since following execution of an MOU with Blackham Resources Limited's (Blackham) outlining the potential to incorporate Blackham's Mining Lease tenure into the development of a Sulphate of Potash (SOP) operation.

Highlights of work completed include:

Surface Sampling Program

Ø A preliminary surface sampling program on Blackham's tenements confirms the Lake's average SOP grade of over 14kg/m(3) , making Lake Way one of Australia's highest grade SOP brine sources.

Geotechnical Investigations

Ø An initial geological and geotechnical investigation by the Company and Knight Piesold confirmed the availability of in-situ clays amendable for on-lake evaporation pond construction. A total of 24 auger holes were excavated across Blackham's tenements and laboratory tested.

Surface Aquifer Exploration

Ø Review and modelling of the large volume of historical exploration data for Lake Way confirms the likelihood of a large hypersaline brine pool on both Blackham and SLP's tenements.

--

Ø The Company is in the process of mobilising a drill rig and an amphibious excavator on the Lake to complete an initial surface aquifer exploration program.

Ø The surface aquifer program will include the construction of test pits and trenches for long-term pump testing.

Process Testwork

Ø The Company has commenced a range of process development testwork including process pathway modelling by international experts, a bulk sample evaporation trial and site-based evaporation trial at Lake Way.

CEO Matt Syme said "These initial results are very pleasing and support the Company's view that Lake Way is an ideal site for our SOP Demonstration Plant and subsequent expansions. It appears to have the best combination in Australia of scale, brine chemistry, playa surface, shallow clays for pond construction, permitting pathway and infrastructure access, which should result in substantial time and cost advantages."

LAKE WAY

Lake Way is located in the Goldfields region of Western Australia, less than 15km south of Wiluna. The surface area of the Lake is over 270km(2) .

The Wiluna region is an historic mining precinct dating back to the late 19th century. It has been a prolific nickel and gold mining region and therefore has well developed, high quality infrastructure in place.

The Goldfields Highway is a high quality sealed road permitted to carry quad road trains and passes 2km from the Lake. The Goldfields Gas Pipeline is adjacent to SLP's tenements, running past the eastern side of the Lake.

SLP has entered an MOU with Blackham to investigate the development of an SOP operation on Blackham's existing Mining Leases at Lake Way including, initially, a 40-50,000tpa Demonstration Plant (see announcement dated 12 March 2018).

Lake Way has some compelling advantages which make it potentially an ideal site for an SOP operation, including:

Ø Substantial likely capital and operating savings from sharing overheads and infrastructure with the Wiluna Gold Mine, including the accommodation camp, flights, power, maintenance, infrastructure and other costs.

Ø The site has an excellent freight solution, adjacent to the Goldfields Highway, which is permitted for heavy haulage 4 trailer road trains to the railhead at Leonora.

Ø A Demonstration Plant would likely be built on Blackham's existing Mining Licences, already subject of a Native Title Agreement.

Ø SLP would dewater the existing Williamson Pit on Lake Way, prior to Blackham mining, planned for early 2019. The pit contains an estimated 1.2GL of brine at the exceptional grade of 25kg/m(3) of SOP. This brine is potentially the ideal starter feed for evaporation ponds, having already evaporated from the normal Lake Way brine grade, which averages over 14kg/m(3) (.)

Ø The high grade brines at Lake Way will result in lower capital and operating costs due to lower extraction and evaporation requirements.

Ø There would be substantial savings to both parties from co-operating on exploration activities on each other's ground.

Ø The presence of clays in the upper levels of the lake which should be amenable to low cost, on-lake evaporation pond construction.

SLP will complete a Scoping Study for a potential SOP operation at Lake Way, including a Demonstration Plant, by mid-2018, in time to allow a decision on dewatering the Williamson Pit under the MOU. There is substantial historical data available for Lake Way and, along with the extensive, high quality technical work undertaken at SLP's other lakes, which has substantial application at Lake Way, a Scoping Study can be undertaken in a much shorter timeframe than would normally be the case.

Surface Sampling Program

The Company has now completed initial surface sampling program at Lake Way, substantially covering the Lake surface. A total of 23 pit samples have been collected encountering brine at a standing water level generally less than 1 metre from surface.

The average brine chemistry of the samples was:

 
                                           K        Mg     SO(4)      TDS        SOP* 
                                                                               Equivalent 
                             --------- 
                               Total     (mg/L)   (mg/L)   (mg/L)   (mg/L)    (kg/m(3) ) 
    Program       Location     Samples 
---------------  ----------  ---------  -------  -------  -------  --------  ------------ 
 March 2018       Blackham       15      6,447    6,680    25,613   231,000      14.38 
---------------  ----------  ---------  -------  -------  -------  --------  ------------ 
 November 2017    SLP            8       6,859    7,734    25,900   243,000      15.25 
---------------  ----------  ---------  -------  -------  -------  --------  ------------ 
 

* Conversion factor of K to SOP (K(2) SO(4) equivalent) is 2.23

The brine chemistry at Lake Way is very consistent over the lake surface. The SOP grade are amongst the highest achieved in Australia to date.

Geotechnical Investigations

To gain an understanding of ground conditions for trenching and pond construction, a preliminary geotechnical investigation program was undertaken within the Blackham Mining Tenements, in conjunction with leading international geotechnical consultants, Knight Piesold.

A total of 24 hand auger boreholes were drilled to depths of up to 3.2 metres, and the encountered soils were logged and sampled.

Lake Way ground conditions consists of a thin surface layer of evaporite sands, overlying sandy and silty clays. Firm clays were encountered at 1m to 2m depth, generally increasing in strength with depth, becoming hard from 2m to 3m. Shallow groundwater was encountered on average 0.2m below the lake surface.

A testing program was undertaken at a NATA accredited geotechnical laboratory, using specific test methods appropriate for saline conditions, to characterise soils and assess preliminary soil parameters.

Summary test results are presented below.

 
 Particle Size Distribution Analysis 
--------------------------------------------------------------------------- 
 Sample Number   Lithological Unit          Clay and Silt   Sand and Gravel 
--------------  -------------------------  --------------  ---------------- 
 601             Mixed soils above 1.5m          26%              74% 
--------------  -------------------------  --------------  ---------------- 
 602             Clay 1.2m to 2.25m depth        71%              29% 
--------------  -------------------------  --------------  ---------------- 
 603             Mixed soils above 1.5m          47%              53% 
--------------  -------------------------  --------------  ---------------- 
 604             Mixed soils above 1.5m          47%              53% 
--------------  -------------------------  --------------  ---------------- 
 

Table 2: Particle Size Distribution Analysis

 
 Hydrometer Analysis 
------------------------------------------------------------ 
 Sample Number   Lithological Unit        Clay   Silt   Sand 
--------------  -----------------------  -----  -----  ----- 
 600             Mixed soils above 1.8m   58%    20%    22% 
--------------  -----------------------  -----  -----  ----- 
 605             Mixed soils above 0.5m   29%    30%    41% 
--------------  -----------------------  -----  -----  ----- 
 606             Mixed soils above 1.8m   28%    27%    45% 
--------------  -----------------------  -----  -----  ----- 
 

Table 3: Hydrometer Analysis

 
 Properties of Upper Clays 
-----------------------------------  ---------- 
 Remoulded Permeability (m/s)         5x10(-10) 
-----------------------------------  ---------- 
 Maximum Dry Density (t/m3)                1.75 
-----------------------------------  ---------- 
 Optimum Water Content (%)                   18 
-----------------------------------  ---------- 
 Cohesion c' (kPa)                            1 
-----------------------------------  ---------- 
 Angle of Shear Resistance ' (Deg)           37 
-----------------------------------  ---------- 
 

Table 4: Properties of Upper Clays

Erodibility characteristics were tested and an Emerson class number of 6 was measured for all samples. This indicates non-dispersive soils that are not prone to erosion when used to form embankments.

Based on the preliminary geotechnical work to date, Knight Piesold have concluded that:

- the in-situ clay materials can be expected to provide natural low permeability layers to control seepage of on-lake ponds.

- the clays are suitable for embankment construction purposes, with adequate moisture control and borrow pit dewatering.

- A key advantage of Lake Way is the presence of a drier clay zone surrounding the Williamson Pit, which has the potential to provide borrow materials and construction schedule benefits for the upcoming pond construction programs.

Knight Piesold is now preparing an options study to evaluate design concepts for large-scale pond systems and provide earthworks quantities and costs. Seepage assessments and flood studies are underway. In parallel, design work is being undertaken for a dewatering pond to hold the Williamson Pit brine.

Surface Aquifer Characterisation

Lake Way and its surrounds have been the subject of a substantial amount of historical exploration for gold, nickel, uranium and other minerals, as well as for process water for mining operations. A total of over 2,800 holes have been drilled in and around the Lake previously, providing a very large database of geotechnical information.

SLP have commenced compiling, digitising and interpreting the historical exploration database to extract relevant data and provide initial basement geometry for the Lake area, to assist estimation of an initial JORC compliant resource.

The Company is also in the process of mobilising a small track-mounted drill rig and an amphibious excavator to complete an initial surface aquifer exploration program. This work will provide critical data for the hydrogeological model for the surface aquifer of the Lake, as well as geological and geotechnical information for infrastructure design and construction.

The surface aquifer program will include the construction of test pits and trenches for long-term pump testing.

The drill campaign is also intended to sterilise (for gold exploration) sufficient areas for siting brine extraction trenches and evaporation ponds.

Process Testwork

The Company has commenced a range of process development testwork to provide and validate inputs to the Lake Way Scoping Study production model. Naturally, this includes testing brines from the Lake itself, as well as the super-concentrated brines from the Williamson Pit.

The testwork aims to confirm the modelled brine evaporation pathways firstly under laboratory simulated conditions and then from a site-based trial of sufficient scale to test on-lake evaporation conditions.

Initial brine evaporation modelling, conducted by internationally renowned solar pond experts, Ad Infinitum, indicates the salts produced at Lake Way will be comparable to those produced at Lake Wells and therefore suitable for conversion into SOP.

International laboratory and testing company, Bureau Veritas (BV), has commenced a series of laboratory-scale brine evaporation trials at their Perth facility, under simulated average Lake Way climate conditions. The aim of the BV trials is to monitor the chemical composition of the brine and salts produced through the evaporation process to confirm:

-- Concentration thresholds in the brine chemistry which can be used to maximise the recovery of potassium in the harvest salts and minimise the quantity of dilutive salts fed to a process plant;

-- The quantity and composition of harvest salts which will for the plant feed in commercial production; and

-- The potential for any internal evaporation pond recycle streams that may improve harvest salt recovery.

Two tests - one for Williamson Pit brine and one for normal Lake Way brine - are currently underway, each evaporating 150kg of brine on a load cell to monitor evaporative loss. The temperature of the brine and air flow across the brine surface is controlled by using infra-red lamps and fans to simulate Lake Way average weather conditions.

A Site Evaporation Trial (SET), as successfully operated at Lake Wells previously, is under construction at Lake Way and will be filled with first brine over the next week. The SET will gather specific evaporation data on concentrated brines under actual conditions, providing refinements to the commercial scale pond modelling.

The Site Evaporation Trial is also designed to produce sufficient harvest salt for confirmatory process testwork and initial customer samples.

Competent Persons Statement

The information in this report that relates to Exploration Results, or Mineral Resources for Lake Way 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.

Forward Looking Statements

This announcement may include forward-looking statements. These forward-looking statements are based on Salt Lake Potash Limited's expectations and beliefs concerning future events. Forward looking statements are necessarily subject to risks, uncertainties and other factors, many of which are outside the control of Salt Lake Potash Limited, which could cause actual results to differ materially from such statements. Salt Lake Potash Limited makes no undertaking to subsequently update or revise the forward-looking statements made in this announcement, to reflect the circumstances or events after the date of that announcement.

APPIX 1 - BRINE CHEMISTRY ANALYSIS

 
 HOLE ID     East     North      K        Cl        Na       Ca       Mg     SO(4)      TDS 
---------  -------  -------- 
                               (mg/L)   (mg/L)    (mg/L)   (mg/L)   (mg/L)   (mg/L)   (mg/L) 
---------  -------  --------  -------  --------  -------  -------  -------  -------  -------- 
 HA17       234302   7035685   6,090    101,600   63,100    664     5,450    24,200   202,000 
---------  -------  --------  -------  --------  -------  -------  -------  -------  -------- 
 HA14       234458   7035223   6,050    104,250   63,900    666     5,620    23,700   206,000 
---------  -------  --------  -------  --------  -------  -------  -------  -------  -------- 
 HA15       234099   7035031   4,770    80,250    48,900    779     4,550    19,600   161,000 
---------  -------  --------  -------  --------  -------  -------  -------  -------  -------- 
 HA10       235063   7034408   6,350    112,150   68,100    621     6,180    23,900   221,000 
---------  -------  --------  -------  --------  -------  -------  -------  -------  -------- 
 HA12       234299   7033837   6,550    115,700   68,600    574     6,690    25,300   228,000 
---------  -------  --------  -------  --------  -------  -------  -------  -------  -------- 
 HA08       234918   7033057   7,280    121,350   73,900    537     6,530    28,200   241,000 
---------  -------  --------  -------  --------  -------  -------  -------  -------  -------- 
 HA06       235652   7033571   6,910    128,050   78,600    528     7,000    25,500   249,000 
---------  -------  --------  -------  --------  -------  -------  -------  -------  -------- 
 HA03       235863   7032512   7,210    131,450   77,200    499     7,510    26,200   258,650 
---------  -------  --------  -------  --------  -------  -------  -------  -------  -------- 
 HA19       234752   7036712   6,030    113,600   67,600    591     7,010    25,700   225,000 
---------  -------  --------  -------  --------  -------  -------  -------  -------  -------- 
 HA29       231655   7036814   6,730    131,200   79,500    447     8,070    33,000   263,000 
---------  -------  --------  -------  --------  -------  -------  -------  -------  -------- 
 HA24       233715   7039225   6,100    130,850   75,000    536     8,650    25,300   253,000 
---------  -------  --------  -------  --------  -------  -------  -------  -------  -------- 
 HA31       233697   7037711   6,690    117,300   71,100    563     6,220    27,100   232,000 
---------  -------  --------  -------  --------  -------  -------  -------  -------  -------- 
 HA21       233742   7036709   5,960    110,250   65,000    610     6,150    23,300   216,000 
---------  -------  --------  -------  --------  -------  -------  -------  -------  -------- 
 HA02       236273   7032823   7,180    134,900   79,200    482     7,410    26,900   262,000 
---------  -------  --------  -------  --------  -------  -------  -------  -------  -------- 
 HA25       233868   7032968   6,810    126,800   76,500    519     7,160    26,300   248,000 
---------  -------  --------  -------  --------  -------  -------  -------  -------  -------- 
 Average                       6,447    117,313   70,413    574     6,680    25,613   231,043 
----------------------------  -------  --------  -------  -------  -------  -------  -------- 
 

APPIX 2 - JORC TABLE ONE

Section 1: Sampling Techniques and Data

 
 Criteria                                JORC Code explanation                   Commentary 
 Sampling techniques                     Nature and quality of sampling (eg      Brine samples were collected from 
                                         cut channels, random chips, or          shallow pits dug into the lake 
                                         specific specialised industry           surface to a depth of 0.5 
                                         standard measurement tools              to 0.75m. Brine samples are composite 
                                         appropriate to the minerals under       samples from the water that filled 
                                         investigation, such as down hole        the pit after digging. 
                                         gamma sondes, or handheld XRF           The material in the pit was 
                                         instruments, etc). These examples       geologically logged as a composite 
                                         should not be taken as limiting         qualitative description for 
                                         the broad meaning of sampling.          the entire pit. 
                                         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            Not applicable 
                                         circulation, open-hole hammer, rotary 
                                         air blast, auger, Bangka, 
                                         sonic, etc) and details (eg core 
                                         diameter, triple or standard tube, 
                                         depth of diamond tails, 
                                         face-sampling bit or other type, 
                                         whether core is oriented and if so, 
                                         by what method, etc). 
 Drill sample recovery                   Method of recording and assessing       Not applicable 
                                         core and chip sample recoveries and 
                                         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      All pits were geologically logged by 
                                         been geologically and geotechnically    a qualified geologist, noting colour, 
                                         logged to a level                       induration, moisture 
                                         of detail to support appropriate        content of sediments grain size 
                                         Mineral Resource estimation, mining     distribution and lithology. 
                                         studies and metallurgical 
                                         studies. 
                                         Whether logging is qualitative or 
                                         quantitative in nature. Core (or 
                                         costean, channel, etc) 
                                         photography. 
                                         The total length and percentage of 
                                         the relevant intersections logged. 
 Sub-sampling techniques and sample      If core, whether cut or sawn and        Sample bottles are rinsed with brine 
 preparation                             whether quarter, half or all core       which is discarded prior to sampling. 
                                         taken.                                  All brine samples taken in the field 
                                         If non-core, whether riffled, tube      are split into two sub-samples: 
                                         sampled, rotary split, etc and          primary and duplicate. 
                                         whether sampled wet or dry.             Reference samples were analysed at a 
                                         For all sample types, the nature,       separate laboratory for QA/QC. 
                                         quality and appropriateness of the      Representative chip trays and bulk 
                                         sample preparation technique.           lithological samples are kept for 
                                         Quality control procedures adopted      records. 
                                         for all sub-sampling stages to 
                                         maximise representivity 
                                         of samples. 
                                         Measures taken to ensure that the 
                                         sampling is representative of the in 
                                         situ material collected, 
                                         including for instance results for 
                                         field duplicate/second-half sampling. 
                                         Whether sample sizes are appropriate 
                                         to the grain size of the material 
                                         being sampled. 
======================================  ======================================  ====================================== 
 Quality of assay data and 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 co-ordinates were captured 
                                         to locate drill holes (collar and       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           Data spacing is very wide and can 
                                         Exploration Results.                    only be considered to be 
                                         Whether the data spacing and            reconnaissance level work. 
                                         distribution is sufficient to 
                                         establish the degree of geological 
                                         and grade continuity appropriate for 
                                         the Mineral Resource and Ore Reserve 
                                         estimation procedure(s) 
                                         and classifications applied. 
                                         Whether sample compositing has been 
                                         applied. 
======================================  ======================================  ====================================== 
 Orientation of data in relation to      Whether the orientation of sampling     Test pits were vertical. Geological 
 geological structure                    achieves unbiased sampling of           structure is considered to be flat 
                                         possible structures and                 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   Tenement sampled 53/1878 in Western 
 status                                  and ownership including agreements or   Australia. 
                                         material issues                         Exploration Licenses are held by 
                                         with third parties such as joint        Piper Preston Pty Ltd (fully owned 
                                         ventures, partnerships, overriding      subsidiary of ASLP). 
                                         royalties, native title 
                                         interests, historical sites, 
                                         wilderness or national park and 
                                         environmental settings. 
                                         The security of the tenure held at 
                                         the time of reporting along with any 
                                         known impediments 
                                         to obtaining a licence to operate in 
                                         the area. 
======================================  ======================================  ====================================== 
 Exploration done by other parties       Acknowledgment and appraisal of         Addressed in the announcement. 
                                         exploration by other parties. 
 Geology                                 Deposit type, geological setting and    Salt Lake Brine Deposit 
                                         style of mineralisation. 
======================================  ======================================  ====================================== 
 Drill hole Information                      A summary of all information        Hand dug pits as described above and 
                                             material to the understanding of    presented in the announcement. 
                                             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    Not applicable 
 widths and intercept lengths            important in the reporting of 
                                         Exploration Results. 
                                         If the geometry of the mineralisation 
                                         with respect to the drill hole angle 
                                         is known, its nature 
                                         should be reported. 
                                         If it is not known and only the down 
                                         hole lengths are reported, there 
                                         should be a clear statement 
                                         to this effect (eg 'down hole length, 
                                         true width not known'). 
 Diagrams                                Appropriate maps and sections (with     Addressed in the announcement. 
                                         scales) and tabulations of intercepts 
                                         should be included 
                                         for any significant discovery being 
                                         reported These should include, but 
                                         not be limited to a 
                                         plan view of drill hole collar 
                                         locations and appropriate sectional 
                                         views. 
======================================  ======================================  ====================================== 
 Balanced reporting                      Where comprehensive reporting of all    All results have been included. 
                                         Exploration Results is not 
                                         practicable, representative 
                                         reporting of both low and high grades 
                                         and/or widths should be practiced to 
                                         avoid misleading 
                                         reporting of Exploration Results. 
 Other substantive exploration data      Other exploration data, if meaningful   Addressed in the announcement. 
                                         and material, should be reported 
                                         including (but not 
                                         limited to): geological observations; 
                                         geophysical survey results; 
                                         geochemical survey results; 
                                         bulk samples - size and method of 
                                         treatment; metallurgical test 
                                         results; bulk density, groundwater, 
                                         geotechnical and rock 
                                         characteristics; potential 
                                         deleterious or contaminating 
                                         substances. 
======================================  ======================================  ====================================== 
 Further work                            The nature and scale of planned         Further sampling and drilling to 
                                         further work (eg tests for lateral      assess the occurrence of brine at 
                                         extensions or depth extensions          depth. 
                                         or large-scale step-out drilling).      Closer spaced, more evenly distribute 
                                         Diagrams clearly highlighting the       drilling, particularly to define the 
                                         areas of possible extensions,           thickness of the 
                                         including the main geological           LPS unit. 
                                         interpretations and future drilling     Hydraulic testing be undertaken, for 
                                         areas, provided this information is     instance pumping tests from bores 
                                         not commercially sensitive.             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:

 
 Matt Syme/Sam Cordin             Salt Lake Potash Limited                    Tel: +61 8 9322 6322 
 Jo Battershill                   Salt Lake Potash Limited                    Tel: +44 (0) 20 7478 3900 
 Colin Aaronson/Richard Tonthat   Grant Thornton UK LLP (Nominated Adviser)   Tel: +44 (0) 20 7383 5100 
 Derrick Lee/Beth McKiernan       Cenkos Securities plc (Joint Broker)        Tel: +44 (0) 131 220 6939 
 Jerry Keen/Toby Gibbs            Shore Capital (Joint broker)                Tel: +44 (0) 20 7468 7967 
 

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCFKPDPQBKKKQB

(END) Dow Jones Newswires

April 25, 2018 05:25 ET (09:25 GMT)

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