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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Kore Potash Plc | LSE:KP2 | London | Ordinary Share | GB00BYP2QJ94 | ORD USD0.001 |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 0.49 | 0.45 | 0.53 | 0.49 | 0.49 | 0.49 | 0.00 | 08:00:02 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From Apr 2019 to Apr 2024
TIDMKP2
RNS Number : 9669H
Kore Potash PLC
21 November 2018
21 November 2018
Kore Potash Plc
("Kore Potash" or the "Company")
Significant Extensions to Kore's Existing Sylvinite Deposits Expected
Kore Potash plc (ASX: KP2, AIM: KP2, JSE: KP2) the potash development company whose flagship asset is the 97%-owned Sintoukola Potash Project in the Republic of Congo, is pleased to provide Exploration Targets for potential extensions of the Kola and Dougou Extension sylvinite Deposits, reported in accordance with the JORC Code (2012 edition). These Exploration Targets have been identified as part of the work program to improve the Company's understanding of both the potential scale and the strategic opportunities presented by the multiple occurrences of potash in the Sintoukola Project area.
An Exploration Target is not a Mineral Resource but a statement of exploration potential and in this case, is based on drilling and 2D seismic survey data and the Company's understanding of the controls on sylvinite mineralisation.
Highlights
-- Potential identified to increase the Company's sylvinite Deposits to a total of between 1.5 and 1.9 billion tonnes (Bt) of sylvinite with an average grade of between 34 and 37% KCl
-- The Exploration Targets are as follows and provided in Table 1 and located on Figure 1
o 'Kola South', the potential southward extension to the Kola Deposit
-- 95 to 175 Mt
-- average grade of between 34 and 42% KCl
o 'DX North', the potential northward extension to the Dougou Extension Deposit
-- 320 to 600 Mt
-- average grade of between 30 and 38% KCl
-- The potential quantity and grade of an Exploration Target is conceptual in nature and is an approximation. There has been insufficient exploration at Kola South and DX North to estimate
-- Mineral Resources and it is uncertain if further exploration will result in the estimation of Mineral Resources
-- The Exploration Targets are immediately adjacent to the Company's existing sylvinite Mineral Resources which total 1.08 Bt with an average grade of 35.5% KCl at the Kola and Dougou Extension Deposits
-- The Exploration Targets are within 40 km of the Company's proposed processing and export facility (Figure 3).
-- Insoluble content of the sylvinite within the Exploration Targets is expected to be <0.5% which is extremely low compared to potash industry averages
Brad Sampson, CEO of Kore, commented:
"Quantifying the potential scale of the Sylvinite and Carnallite deposits of the Sintoukola project area is important. It positions the Company to assess the strategic options available for these world-class, shallow and high-grade Potash deposits while continuing to allow flexibility on the best development pathway for this globally important Potash province."
Table 1. Summary of parameters and the Exploration Targets for Kola South and DX North.
Hot Features
Premium
KOLA
SOUTH
Seam Area average average minimum maximum minimum Mid maximum minimum Mid maximum
km(2) Thickness density distribution % of distribution % of tonnage Point tonnage average Point average
(m) (g/cm(3) area area (Mt) tonnage (Mt) grade grade grade
) (Mt) (KCl%) (KCl%) (KCl%)
------------------
TSS - - - - - - - -
-
------ ---------- --------- ------------------ ------------------ -------- -------- -------- ------- --------
HWSS 23 2.74 2.02 15% 30% 19 29 39 50 56 60
------ ---------- --------- ------------------ ------------------ -------- -------- -------- ------- --------
US 23 3.40 2.10 35% 60% 58 79 100 30 34 38
------ ---------- --------- ------------------ ------------------ -------- -------- -------- ------- --------
LS 23 2.50 2.11 15% 30% 18 28 37 28 31 34
------ ---------- --------- ------------------ ------------------ -------- -------- -------- ------- --------
ALL
SEAMS 95 135 175 34 38 42
------ ---------- --------- ------------------ ------------------ -------- -------- -------- ------- --------
DX
NORTH
Seam Area average average minimum maximum minimum Mid maximum minimum Mid maximum
km(2) Thickness density distribution % of distribution % of tonnage Point tonnage average Point average
(m) (g/cm(3) area area (Mt) tonnage (Mt) grade grade grade
) (Mt) (KCl%) (KCl%) (KCl%)
------------------
TSS 185 5.30 2.11 8% 15% 155 233 310 24 29 34
------ ---------- --------- ------------------ ------------------ -------- -------- -------- ------- --------
HWSS 185 2.60 2.02 5% 8% 49 64 78 55 59 60
------ ---------- --------- ------------------ ------------------ -------- -------- -------- ------- --------
US 185 3.40 2.10 5% 10% 66 99 132 30 34 38
------ ---------- --------- ------------------ ------------------ -------- -------- -------- ------- --------
LS 185 2.50 2.11 5% 8% 49 64 78 28 31 34
------ ---------- --------- ------------------ ------------------ -------- -------- -------- ------- --------
ALL
SEAMS 320 460 600 30 35 38
------ ---------- --------- ------------------ ------------------ -------- -------- -------- ------- --------
Note: Rounding errors may exist. Tonnage totals are rounded to the nearest multiple of 5 Mt. Grades are rounded to the nearest percent
Sylvinite is a rock type comprised primarily of the potash mineral sylvite (KCl), and halite (NaCl) and is the most important source of potash globally.
Existing sylvinite Mineral Resources
The location of the Kola and Dougou Extension sylvinite Deposits are shown in Figure 1 and 3, along with the adjacent Exploration Target areas (or 'target areas'). A table including the existing sylvinite Mineral Resource estimates is provided below this announcement, reported according to JORC 2012. Kola hosts a Measured and Indicated sylvinite Mineral Resource totalling 508 Mt with an average grade of 35.4% KCl (Company announcement dated 6 July 2017). Dougou Extension hosts an Indicated and Inferred sylvinite Mineral Resource totalling 232 Mt with an average grade of 38.1 % KCl (announcement dated 20 August 2018).
Overview of the Geology
The potash at the Kola and Dougou Extension is hosted by sub-horizontal or gently dipping layers or 'seams' within the upper part of a 400-500 m thick 'Salt Member' ('the Salt') of the Lower Cretaceous-aged Loeme Evaporite formation (Figure 2). The evaporite rocks extend from approximately 50 km inland to over 200 km offshore and is comprised of up to 11 'cycles' which can be correlated across the onshore part of the basin. The existing Kola and Dougou Extension Deposits are large, occupying areas several km across and in length. At Kola the Salt is covered by 180 to 280 m of sediments referred to as the 'Cover Rocks'. At Dougou Extension the Cover Rocks are between and 290 and 420 m thick. The Salt is overlain by a 5-20 m thick aquitard, referred to as the Anhydrite Member. The base of this unit (the top of the Salt) is an unconformity, so that the upper parts of the Salt are variably preserved or truncated by this contact.
At Kola and Dougou Extension, the sylvinite formed by the replacement of pre-existing carnallitite of 1 or 2 of the four seams in the upper Salt cycles. Carnallitite is a relatively low-grade potash rock comprised primarily of the mineral carnallite (KMgCl3--6H2O) and halite (NaCl). The seams are as follows; the Top Seam (TS), the Hangingwall Seam (HWS), the Upper Seam (US) and Lower Seam (LS) separated by rock-salt (Figure 2). At Kola the TS is mostly absent due to it being truncated by the unconformity at the top of the Salt so does not form part of the Mineral Resource or Exploration Target. At Dougou Extension the TS is 12-15 m above the HWS and is widely preserved, hosting the bulk of the sylvinite Mineral Resource. At both Deposits internal zones of carnallitite occur, and this is not mixed with the sylvinite, always being lateral or below the sylvinite with abrupt contacts between the two.
The extent of the Kola South and DX North Exploration Targets is controlled by the extent of broad structural 'highs' (100's m) beneath or adjacent to them (Figure 1). In these areas the process of sylvinite replacement was 'promoted' in the upper 10-90 m of the Salt. These structural features pre-date the Salt and had an influence on the formation of sylvinite.
Fundamental to the Exploration Targets is the well-established continuity of the evaporite layers, including the potash seams. Each seam, regardless of whether it is sylvinite or carnallitite can be correlated over tens of kilometres relating to the continuity of the original depositional setting of the evaporite. Lateral grade variation of the sylvinite of each seam and the content of insoluble material is low for the same reason. The HWS is the highest grading seam, where sylvinite grades up to 62% KCl at the Kola and Dougou Extension Deposits. The US, then the TS and LS, have grades between 24 and 42% KCl.
The Kola South Exploration Target
The intersections of sylvinite in two of the Company's drill-holes completed in 2017 provide support for the Kola South Exploration Target and were reported previously along with Table 1 of the JORC Code (Company announcement dated 7 December 2017). These holes, EK_53 and EK_54, intersected sylvinite in the HWS grading 61.9 and 60.0 % KCl over a thickness of 2.22 and 3.26 m respectively.
Based on EK_53, EK_54 and available historic seismic data, the sylvinite at the Kola deposit is likely to extend up to 7 km southeast of the current Inferred Resource extent (Figure. 1) and the sylvinite mineralised zones are likely to be contiguous with that of the current Mineral Resource. The extent of the prospective area is controlled by a subtle structural 'high' below the Salt Member, extending southwards on strike from the Kola deposit. This 'high' is evident on the plot of the thickness of the Salt Member (Figure 1). Seismic survey data also guides the overall geometry of the Salt and suggests that there are no features disrupting the Salt stratigraphy within the target area.
In determining the Exploration Target, the average expected thickness of the HWS was determined from the EK_53 and EK_54 intersections, both of which are sylvinite. In these holes the US and LS is carnallitite, but it is expected these seams will be sylvinite over significant portions of the target area, as is the case at the Kola Deposit. The thickness of the US and LS for the Exploration Target was determined from the data for these seams at the Kola Deposit, with a slight reduction to the LS thickness (to account for a slightly thinned LS carnallite seam in EK_54). The grade range of the seams was determined from the large amount of data for the seams at Kola, along with the intersections in EK_53 and EK_54 for the sylvinite HWS. For each seam, the minimum grade was guided by the 10(th) percentile of the grade data for all existing intersections and the maximum was assigned to less than the 80(th) percentile, considered appropriate as low or high-grade outliers do not exist.
Based on the understanding on the distribution of sylvinite at the Kola Deposit, a minimum and maximum 'abundance' of each of the seams was developed for Kola South, expressed as a percentage of the prospective area (Table 1). It is expected that sylvinite of the US will contribute most to the potential tonnage, followed by the LS and HWS in roughly equal proportions. The predicted abundance of the HWS is greater than at the Kola Deposit, reflecting the expectation that it is less widely truncated (by the unconformity at the top of the Salt) at Kola South.
The DX North Exploration Target
This is the potential northward extension of the recently announced Dougou Extension Deposit (Company announcement dated 20 August 2018). The prospective area is defined by slight elevation and thinning of the Salt where the rocks (100's m) below the Salt are affected by horst development within an area referred to as the Yangala High (Figure 1), and northwards of this feature adjacent to the basin margin. The delineation of the prospective zone was based on a large amount of historical 2D seismic survey data and several historical drill-holes (Figure 1). Appendix 1 contains the JORC 2012 Table 1 for exploration data relating to the DX North Exploration Target, having not been part of previous announcements. Table 3 provides summarises of potash intersections in the historic drill-holes. The Company's 2017 drill-hole DX_05 planned to test the DX North area east of historic hole Yangala-1 but stopped short of the Salt Member due to drilling difficulties.
The estimation of the Exploration Target range of tonnes for DX North is based on the assumption that a portion of the total area of each seam will host sylvinite, in the proportions provided in Table 1. There is less supporting data in relation to the size of the target area than for Kola South; this lower level of confidence is reflected in the maximum assigned proportions. It is expected that in some areas the seams are either truncated by the unconformity at the top of the Salt or are present but are carnallitite but that the material quantified by the Exploration Target would be within areas that are sufficiently extensive and continuous to be potentially amenable to economic extraction.
Historic drill-hole Yangala-1 contains sylvinite in the TS, US and LS but are partially leached so that grade is likely to be less than what is typical for these seams. This is encouraging as it shows that the process of sylvinite formation has taken place well into the Salt. The Historic hole Maf-1 (Figure 1) intersected a 4.1 m thick sylvinite seam, interpreted to be the US or LS. Hole TK-1 contains carnallitite in the TS, HWS, US and LS.
The average thickness of the seams in the DX North area were determined from the sylvinite intersections of the TS and HWS in the Company's drill-holes at the Dougou Extension Deposit. The thickness of the sylvinite US and LS was estimated based on the thickness of the carnallitite intersections in the area, as this is proportional to the thickness when replaced by sylvinite. The grade range for the HWS and TS is based on the intersections at the Dougou Extension Deposit. The grade range for the US and LS is based on the grade of these seams at Kola. API values of >300 API in hole Maf-1 provide support for the presence of high-grade sylvinite. As at Kola South, the 10(th) and 80(th) percentiles of grade data in the supporting intersections was used to guide the minimum and maximum stated grade of the Exploration Target.
Figure 1. Map showing the Kola and Dougou Deposits and the adjacent South and DX North Exploration Target areas, along with important controlling features (see www.korepotash.com)
Further Exploration Work
No immediate follow up exploration activity is currently planned while the Company is focused on the review of the Kola Definitive Feasibility Study. The following provides an indication of what work that would typically be required to advance the Exploration Targets.
-- Acquire additional 2D seismic survey data on wide-spaced lines (1-3 km apart) to improve the geological model and understanding of the Salt Member.
-- Drill 3-5 holes in each target area. At Kola South, holes would be expected to have final depths of between 300 and 400 m; at DX North holes up to a depth of 700 m may be required.
-- If this drilling is sufficiently successful, the data may support expansions of the existing Kola and Dougou Extension Mineral Resource Estimates.
-- Further 'infill' drilling and seismic surveying may then be required to increase confidence. -- This programme if commenced may take approximately 12-24 months to complete from initiation.
Figure 2. Schematic section illustrating geology at the Kola Deposit. Note the TS is absent (see Kore Potash)
Table 2. Positions of the historic holes within the DX North area using UTM 32 S WGS 84 datum.
Easting Northing Elevation Depth
m m m m
K60 779095.96 9537928.9 16.54 565.0
---------- ---------- ---------- -------
MAF-1 761183.96 9560162.5 38.09 1018.6
---------- ---------- ---------- -------
TK-1 771596.00 9550234.0 42.60 1537.0
---------- ---------- ---------- -------
Yangala-1 783662.00 9533277.0 102.57 1110.6
---------- ---------- ---------- -------
Holes were drilled vertically
Table 3. Potash intersections in historic holes within the DX North area
Seam/s Depth (m)
K60 None -
---------------------------- ------------------------
MAF-1 Sylvinite US or LS of 4.1
m thick and <300 API 293.7 to 297.8
---------------------------- ------------------------
TK-1 Carnallitite TS, HWS, US, within an interval from
LS 507 and 625.5
---------------------------- ------------------------
Yangala-1 Partially leached sylvinite within an interval from
of the TS, US, LS. 524 to 680
---------------------------- ------------------------
Figure 3. Location of Kore's projects (see www.korepotash.com)
-S -
For further information, please visit www.korepotash.com or contact:
Kore Potash Tel: +27 11 469 9140 Brad Sampson - CEO Tavistock Communications Tel: +44 (0) 20 7920 3150 Jos Simson Edward Lee Canaccord Genuity - Nomad and Tel: +44 (0) 20 7523 4600 Broker Martin Davison James Asensio
About Kore Potash's Projects
Kore Potash is an advanced stage mineral exploration and development company whose primary asset is 97%-owned interest in the Sintoukola project, a potash project located in the Republic of Congo. The Sintoukola project comprises the Kola sylvinite and carnallite Deposits, the Dougou Extension sylvinite Deposit and the Dougou carnallite Deposit. These deposits are within the Kola and Dougou Mining Licenses. The Sintoukola project also includes the Sintoukola 2 Exploration License.
Sintoukola is located approximately 80 km to the north of the city of Pointe Noire which has a major port facility, and within 30 km of the Atlantic coast. Sintoukola has the potential to be among the world's lowest-cost potash producers and its location near the coast offers a transport cost advantage to global fertilizer markets.
The Kola sylvinite Deposit has a Measured and Indicated sylvinite Mineral Resource Estimate of 508 million tonnes grading 35.4 % KCl. A Definitive Feasibility Study ("DFS") is being conducted by a consortium of French engineering and construction companies. The deposit is 'open' laterally; drill-holes completed in 2017 intersected high-grade sylvinite several km southeast of the Deposit. It is shallow relative to most potash mines; the proposed shaft bottom will be 270 m below surface.
The Dougou Extension sylvinite Deposit contains a total sylvinite Mineral Resource estimate of 232 Mt grading 38.1% KCl, hosted by two seams. The Mineral Resource includes 67 Mt grading 60.1 % KCl. Dougou Extension is located 15 km southwest of Kola. A large zone that is considered prospective for sylvinite extends a further 25 km northwards, within the Dougou Mining License and the 'Sintoukola 2' Exploration License.
The Kola and Dougou Extension sylvinite Deposits are considered high grade relative to most potash deposits globally and have the advantage of having very low content of insoluble material, less than 0.3% which provides a further processing advantage.
The Dougou carnallite Deposit has a Measured and Indicated Potash Mineral Resource of 1.1 billion tonnes grading 20.6% KCl (at a depth of between 400 and 600 metres) hosted by 35-40 metres of carnallitite within 4 flat-lying seams. A Scoping Study was completed in February 2015. This Study indicated that a Life of Mine operating cost of US$68 per tonne MoP was achievable.
-- Muriate of Potash (MoP) is the saleable form of potassium chloride (KCl), comprising of a minimum 95% KCl.
-- Sylvinite is a rock type comprised predominantly of the potash mineral sylvite (KCl) and halite (NaCl).
-- Carnallitite is a rock type comprised predominantly of the potash mineral carnallite (KMgCl(3) --6H(2) O) and halite (NaCl).
Kore's Potash Mineral Resources, provided as Gross and Net Attributable (to Kore's 97% holding), prepared and reported according to the JORC Code, 2012 edition.
SYLVINITE DEPOSITS
KOLA SYLVINITE DEPOSIT
Gross Net Attributable
------------------------------------------------
Mineral Resource Million Tonnes Grade KCl % Contained KCl Million Tonnes Grade KCl % Contained KCl
Category million tonnes million tonnes
--------------- ------------ -----------------
Measured 216 34.9 75 209 34.9 73
--------------- ------------ ----------------- --------------- -----------------
Indicated 292 35.7 104 283 35.7 101
--------------- ------------ ----------------- --------------- -----------------
Sub-Total
Measured +
Indicated 508 35.4 180 492 35.4 174
Inferred 340 34.0 116 330 34.0 112
---------------
TOTAL 848 34.8 295 822 34.8 286
--------------- ------------ ----------------- --------------- ------------ -----------------
DOUGOU EXTENSION SYLVINITE DEPOSIT
Gross Net Attributable
------------------------------------------------
Mineral Resource Million Tonnes Grade KCl % Contained KCl Million Tonnes Grade KCl % Contained KCl
Category million tonnes million tonnes
------------ ----------------- --------------- ------------ -----------------
Measured - - - - - -
------------------ ------------ ----------------- --------------- -----------------
Indicated 111 37.2 41 108 37.2 40
------------------ ------------ ----------------- --------------- -----------------
Sub-Total
Measured +
Indicated 111 37.2 41 108 37.2 40
------------------ ------------ ----------------- ------------ -----------------
Inferred 121 38.9 47 117 38.9 46
------------------ ------------ ----------------- --------------- -----------------
TOTAL 232 38.1 88 225 38.1 85
------------------ ------------ ----------------- --------------- ------------ -----------------
TOTAL SYLVINITE, KOLA & DOUGOU EXTENSION DEPOSITS COMBINED
Measured +
Indicated +
Inferred 1,080 35.5 384 1,048 35.5 372
---------------
CARNALLITE DEPOSITS
DOUGOU CARNALLITE DEPOSIT
Gross Net Attributable
------------------------------------------------
Mineral Resource Million Tonnes Grade KCl % Contained KCl Million Tonnes Grade KCl % Contained KCl
Category million tonnes million tonnes
--------------- ------------ ----------------- --------------- ------------ -----------------
Measured 148 20.1 30 144 20.1 29
--------------- ------------ ----------------- --------------- -----------------
Indicated 920 20.7 190 892 20.7 185
--------------- ------------ ----------------- --------------- -----------------
Sub-Total
Measured +
Indicated 1,068 20.6 220 1,036 20.6 214
--------------- ------------ ----------------- ------------
Inferred 1,988 20.8 414 1,928 20.8 401
--------------- ------------ ----------------- ---------------
TOTAL 3,056 20.7 634 2,964 20.7 615
--------------- ------------ ----------------- --------------- ------------ -----------------
KOLA CARNALLITE DEPOSIT
Gross Net Attributable
------------------------------------------------
Mineral Resource Million Tonnes Grade KCl % Contained KCl Million Tonnes Grade KCl % Contained KCl
Category million tonnes million tonnes
------------ ----------------- --------------- ------------ -----------------
Measured 341 17.4 59 331 17.4 58
------------------ ------------ ----------------- --------------- -----------------
Indicated 441 18.7 83 428 18.7 80
------------------ ------------ ----------------- --------------- -----------------
Sub-Total
Measured +
Indicated 783 18.1 142 760 18.1 138
Inferred 1,266 18.7 236 1,228 18.7 229
---------------
TOTAL 2,049 18.5 378 1,988 18.5 367
------------------ ------------ ----------------- --------------- ------------ -----------------
Note: Table entries are rounded to the appropriate significant figure.
Competent Persons Statement
All information in this report that relates to the Exploration Targets for Kola South and DX North is based on information compiled by Mr. Andrew Pedley, the Chief Geologist for Kore Potash and a full-time employee of the Company. Mr Pedley is a registered scientist (Pr. Sci. Nat) with the South African Council for Natural Scientific Professions (reg No. 400311/13) and is a member of the Geological Society of South Africa. Mr. Pedley has sufficient experience that is relevant to the style of mineralisation and type of Deposit under consideration and to the activity 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" (the JORC Code). Mr. Pedley consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.
The information relating to previous Exploration Results, Mineral Resources or Ore Reserves in this report is based on, or extracted from previous reports referred to herein, and available to view on the Company's website www.korepotash.com The Kola Mineral Resource Estimate was reported 6 July 2017 in an announcement titled 'Updated Mineral Resource for the High Grade Kola Deposit'. It was prepared by Competent Person Mr. Garth Kirkham, P.Geo., of Met-Chem division of DRA Americas Inc., a subsidiary of the DRA Group, and a member of the Association of Professional Engineers and Geoscientists of British Columbia. The Dougou carnallite Mineral Resource estimate was reported on 9 February 2015 in an announcement titled 'Elemental Minerals Announces Large Mineral Resource Expansion and Upgrade for the Dougou Potash Deposit'. It was prepared by Competent Persons Dr. Sebastiaan van der Klauw and Ms. Jana Neubert, senior geologists and employees of ERCOSPLAN Ingenieurgesellschaft Geotechnik und Bergbau mbH and members of good standing of the European Federation of Geologists. The Dougou Extension sylvinite Mineral Resource Estimate was reported 20 August 2018 in an announcement titled 'Maiden Sylvinite Mineral Resource at Dougou Extension'. It was prepared by Competent Person Mr. Andrew Pedley a full-time employee of Kore Potash, a registered professional natural scientist with the South African Council for Natural Scientific Professions and member of the Geological Society of South Africa. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements and, in the case of estimates of Mineral Resources or Ore Reserves that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from the original market announcement.
Forward-Looking Statements
This report contains statements that are "forward-looking". Generally, the words "expect," "potential", "intend, " "estimate," "will" and similar expressions identify forward-looking statements. By their very nature and whilst there is a reasonable basis for making such statements regarding the proposed placement described herein; forward-looking statements are subject to known and unknown risks and uncertainties that may cause our actual results, performance or achievements, to differ materially from those expressed or implied in any of our forward-looking statements, which are not guarantees of future performance. Statements in this report regarding the Company's business or proposed business, which are not historical facts, are "forward looking" statements that involve risks and uncertainties, such as resource estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements.
Investors are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date they are made.
APPIX 1. JORC 2012 Table 1
Prepared to describe the supporting Exploration Data for the DX North Exploration Target;
additional support is provided by data described in the previously reported Mineral Resource
estimate for the adjacent Dougou Extension Deposit (announcement dated 20 August 2018).
Exploration Data supporting the Kola South Exploration Target is not included in this Appendix
as that data was announced previously (announcement dated 7 December 2017).
Important Abbreviations used:
o DX: Dougou Extension
o MRE: Mineral Resource Estimate
o TS: Top Seam
o HWS: Hangingwall Seam
o US: Upper Seam
o LS Lower Seam
o RoC Republic of Congo
Section 1 - Sampling Techniques and Data
JORC Criteria JORC Explanation Commentary
---------------------------------------------------------------- --------------------------------------------------------------
1.1 SAMPLING
TECHNIQUES * Nature and quality of sampling (eg cut channels, * In addition to the data for the adjacent Dougou
random chips, or specific specialised industry Extension Deposit, four drill-holes guide the DX
standard measurement tools appropriate to the North Exploration Target; K60, Yangala-1, MAF-1 and
minerals under investigation, such as down hole gamma TK-1.
sondes, or handheld XRF instruments, etc). These
examples should not be taken as limiting the broad
meaning of sampling. * Mineralised intervals are present but were not
sampled in these holes.
* Include reference to measures taken to ensure sample
representivity and the appropriate calibration of any * Grade of the potash seams is based upon the
measurement tools or systems used. intersections of the seams at the adjacent Dougou
Extension Deposit, and at the nearby Kola Deposit.
* 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.
---------------------------------------------------------------- --------------------------------------------------------------
1.2. DRILLING
TECHNIQUES * Drill type (eg core, reverse circulation, open-hole * K60 and Yangala-1 were drilled by rotary percussion
hammer, rotary air blast, auger, Bangka, sonic, etc) through the 'cover rocks', stopping in the Anhydrite
and details (eg core diameter, triple or standard Member then advanced through the Salt Member using
tube, depth of diamond tails, face-sampling bit or diamond coring with the use of tri-salt (K, Na, Mg).
other type, whether core is oriented and if so, by
what method, etc).
* Holes MAF-1 and TK-1 were drilled with rotary methods
through the cover rocks and Salt Member.
* All holes were drilled vertically.
---------------------------------------------------------------- --------------------------------------------------------------
1.3. DRILL SAMPLE
RECOVERY * Method of recording and assessing core and chip * There are no records of core recovery for hole K60 or
sample recoveries and results assessed. Yangala-1 but based on descriptions of the core,
recovery was likely to have been acceptable.
* Measures taken to maximise sample recovery and ensure
representative nature of the samples. * There is no record of the recovery of cuttings in
holes MAF-1 and TK-1.
* 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.
---------------------------------------------------------------- --------------------------------------------------------------
1.4. LOGGING
* Whether core and chip samples have been geologically * Geological logging in K60 and Yangala-1 was based on
and geotechnically logged to a level of detail to core and is of an acceptable standard, including
support appropriate Mineral Resource estimation, descriptions and graphical logs.
mining studies and metallurgical studies.
* For MAF-1 and TK-1, only summary descriptions of the
* Whether logging is qualitative or quantitative in potash intervals are available.
nature. Core (or costean, channel, etc.) photography.
* No mineralised intervals were sampled in these holes.
* The total length and percentage of the relevant
intersections logged.
* Data is sufficiently reliable and detailed, and is
therefore considered acceptable for the reporting of
an Exploration Target.
---------------------------------------------------------------- --------------------------------------------------------------
1.5 SUB-SAMPLING
TECHNIQUES AND * If core, whether cut or sawn and whether quarter, * No samples were collected from the drill-holes within
SAMPLE PREPARATION half or all core taken. the DX North Exploration Target area.
* If non-core, whether riffled, tube sampled, rotary
split, etc and whether sampled wet or dry.
* For all sample types, the nature, quality and
appropriateness of the sample preparation technique.
* Quality control procedures adopted for all
sub-sampling stages to maximise representivity of
samples.
* Measures taken to ensure that the sampling is
representative of the in situ material collected,
including for instance results for field
duplicate/second-half sampling.
* Whether sample sizes are appropriate to the grain
size of the material being sampled.
---------------------------------------------------------------- --------------------------------------------------------------
1.6 QUALITY OF
ASSAY DATA AND * The nature, quality and appropriateness of the * No analyses are available for the holes within the DX
LABORATORY TESTS assaying and laboratory procedures used and whether North Exploration Target area.
the technique is considered partial or total.
* Grade rangesare based on data at the adjacent Dougou
* For geophysical tools, spectrometers, handheld XRF Extension Deposit, and at the nearby Kola Deposit,
instruments, etc, the parameters used in determining which have been reported previously.
the analysis including instrument make and model,
reading times, calibrations factors applied and their
derivation, etc. * Downhole API data in a historic drilling report for
MAF- provides support of the sylvinite depth and
thickness in that hole. The API value was >300 API
* Nature of quality control procedures adopted (eg for what is interpreted to be either the US or LS.
standards, blanks, duplicates, external laboratory Carnallitite was 100-165 API and halite reported as
checks) and whether acceptable levels of accuracy 15-20 API for comparison.
(i.e. lack of bias) and precision have been
established.
---------------------------------------------------------------- --------------------------------------------------------------
1.7. VERIFICATION
OF SAMPLING AND * The verification of significant intersections by * No verification was carried out as all holes within
ASSAYING either independent or alternative company personnel. the DX North area are historical and core is no
longer available. Furthermore grade data for the
historic holes was not used; grade for the seams was
* The use of twinned holes. determined from the Company's holes within the Dougou
Extension Deposit to the south, and from the Kola
Deposit, for which full sample and assay QA-QC
* Documentation of primary data, data entry procedures, programmes were implemented.
data verification, data storage (physical and
electronic) protocols.
* Discuss any adjustment to assay data.
---------------------------------------------------------------- --------------------------------------------------------------
1.8. LOCATION
OF DATA POINTS * Accuracy and quality of surveys used to locate drill * Drill-hole collars' Easting, Northing and elevation
holes (collar and down-hole surveys), trenches, mine were surveyed and recorded in the drilling reports
workings and other locations used in Mineral Resource for the holes. Hole positions are provided in Table 2
estimation. of the announcement. They are converted from Pointe
Noire datum to WGS 84 datum. The position of
Yangala-1 was verified in the field.
* Specification of the grid system used.
* Quality and adequacy of topographic control.
---------------------------------------------------------------- --------------------------------------------------------------
1.9. DATA SPACING
AND DISTRIBUTION * Data spacing for reporting of Exploration Results. * Figure 1 of the announcement shows the location of
the drill-holes. They are between 6 and 14 km apart.
* Whether the data spacing and distribution is
sufficient to establish the degree of geological and
grade continuity appropriate for the Mineral Resource
and Ore Reserve estimation procedure(s) and
classifications applied.
* Whether sample compositing has been applied.
---------------------------------------------------------------- --------------------------------------------------------------
1.10. ORIENTATION
OF DATA IN RELATION * Whether the orientation of sampling achieves unbiased * Not applicable as no grade data is reported for the
TO GEOLOGICAL sampling of possible structures and the extent to historical holes.
STRUCTURE 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.
---------------------------------------------------------------- --------------------------------------------------------------
1.11. SAMPLE Not applicable as no samples were taken
SECURITY * The measures taken to ensure sample security. from historical drill-holes
---------------------------------------------------------------- --------------------------------------------------------------
1.12. AUDITS
OR REVIEWS * The results of any audits or reviews of sampling * The MSA Group (MSA), an independent exploration and
techniques and data. mining consultancy based in Johannesburg, has
reviewed the data relating to the Dougou Extension
and Kola Mineral Resources. MSA assisted Kore in the
modelling, estimation and reporting of these Mineral
Resources.
---------------------------------------------------------------- --------------------------------------------------------------
Section 2 - Reporting of Exploration Results
JORC Criteria JORC Explanation Commentary
------------------------------------------------------------ --------------------------------------------------------------
2.1 MINERAL TENEMENT
AND LAND TENURE * Type, reference name/number, location and ownership * The DX North Exploration Target is within the Dougou
STATUS including agreements or material issues with third Mining License and the Sintoukola 2 Exploration
parties such as joint ventures, partnerships, License. The former was issued on the 9 May 2017 and
overriding royalties, native title interests, held 100% by the local company Dougou Mining SARL
historical sites, wilderness or national park and which is in turn held 100% by RoC Company Sintoukola
environmental settings. Potash SA., which Kore Potash holds a 97% share. The
Sintoukola 2 Exploration License was issued on the 9
February 2018 and held 100% by RoC Company,
* The security of the tenure held at the time of Sintoukola Potash SA and is valid for three years,
reporting along with any known impediments to following which it may be renewed twice, each time
obtaining a license to operate in the area. for a further period of two years.
* The Kola South Exploration Target is within the Kola
Mining License and the aforementioned Dougou Mining
Lease. The Kola Mining License was issued in August
2013 and is valid for 25 years and held 100% by the
local company Kola Mining SARL which is in turn held
100% by RoC Company Sintoukola Potash SA.
* There are no impediments on the security of tenure.
------------------------------------------------------------ --------------------------------------------------------------
2.2 EXPLORATION
DONE BY OTHER * Acknowledgment and appraisal of exploration by other * Potash exploration was carried out in the region in
PARTIES parties. the1960's by Mines de Potasse d' Alsace S.A,
including the drilling of K60.
* Oil exploration wells Yangala-1 and TK-1 were drilled
in 1961 and 1962 by Societe des Petrole d'Afrique
Equatoriale (SPAFE).
* Oil exploration well MAF-1 was drilled in 1991 by
Chevron International.
* 2D Seismic data in the area was acquired by various
oil explorers from the 1980s onwards.
------------------------------------------------------------ --------------------------------------------------------------
2.3. GEOLOGY
* The potash seams are hosted by the Loeme Evaporite
formation, comprised of sedimentary evaporite rocks
with minor clastic layers. This formation is
typically 400-500 m thick These rocks are within the
Congo Basin which extends from the Cabinda enclave of
Angola to southern Gabon, from approximately 50 km
inland, extending some 200-300 km offshore. The
evaporites were deposited during the Aptian epoch of
the Lower Cretaceous, probably between 125 and 112
million years ago, within a sub-sea level basin
following the break-up of Gondwana into the African
and South American continents. Importantly, the
sedimentation was in a post-rift setting leading to
the development of evaporite layers with significant
continuity.
* In terms of classification nomenclature, the
evaporite is of the basin-wide 'mega-halite' type,
formed by the cyclic evaporation of sea-water sourced,
seepage-fed brines in an extensive subsiding basin,
each cycle generally following the expected brine
evolution and resultant mineral precipitation model:
dolomite then gypsum then halite then the bitterns of
Mg and K as chlorides. To precipitate the thick
potash beds the system experienced prolonged periods
within a relatively narrow range of high salinity.
* Reflecting the chloride-Mg-K dominated brine
composition, halite (NaCl), carnallite (KMgCl(3)
--6H(2) O) and bischofite (MgCl(2) --6H(2) O) account
for over 90% of the evaporite rocks. Sylvinite is
found relatively close to the top of the Salt.
Carnallitite is a rock comprised predominantly of
carnallite and halite. Sylvinite is a rock comprised
predominantly of sylvite (KCl) and halite. The term
'rock-salt' is used to refer to a rock comprising of
halite without appreciable other minerals/materials.
* Importantly, bischofite does not occur in the floor
or roof of the TS, HWS, US or LS, only present >40 m
below the LS. This mineral is mechanically very weak
and considered disadvantageous if in proximity to
mine workings.
* The Salt was deposited in a cyclic manner; 10-11
cycles have been recognised, of which most are
preserved at Dougou Extension, the important 'Top
Seam' (TS) and 'Hangingwall Seam' (HWS) potash seams
are within the mid to upper part of cycle 9.
* All layers in the Salt member have good continuity
and the thickness of the interval between them is
consistent. Even narrow mm-scale layers or sub-layers
can be correlated over many km. In most holes all
potash layers are present and have a low angle of dip
(
* The HWS is relatively high grade, being comprised of
a single massive bed of approximately 60% sylvite.
The TS, US and LS are comprised of high grade
sylvinite layers with internal rock-salt layers and
therefore have lower overall grades than the HWS.
* At Dougou Extension and the DX North area, the
evaporite stratigraphy is slightly elevated and
thinned relating to the presence of a horst block
forming a paleo-topographic high in the underlying
pre and syn-rift rocks referred to as the 'Yangala
High'.
* Capping the salt dominated part (Salt Member or
'Salt') is a low permeability layer of anhydrite,
gypsum and clay (the Anhydrite Member). Importantly,
the contact between the Anhydrite Member and the
underlying salt is an unconformity. As the layers of
the Salt are gently undulating and the upper contact
is an unconformity, in some areas there is a greater
thickness of Salt above the seams than in others, or
the seams may be 'truncated'.
* The Anhydrite Member is covered by a thick 'cover
sequence' of carbonate rocks and clastic sediments of
Cretaceous age (Albian) to recent.
* Potash seams were originally deposited as
carnallitite but were replaced in some areas by
sylvinite, by a process of leaching Mg, OH and some
NaCl from carnallite, converting it to sylvite. This
process has taken place preferentially over the
Yangala High, initiating at the top of the Salt
Member. This process is based on observations at the
Kola and Dougou Extension Deposits and is expected
within the DX North target area.
* The thickness of the Salt above the seams is an
important control on the whether the seam is
sylvinite or carnallitite, and thus the extent of the
sylvinite mineralisation. Added to this is the
variation in the depth, from the top of the Salt that
the process has been effective, between 20 and 90 m
at the Dougou Extension Deposit. At the DX North area
it is likely to be variable; the lowermost sylvinite
in Yangala-1 is approximately 155 m below the top of
the Salt which is encouraging.
* It is observed at the Kola and Dougou Extension
Deposits, that the process advanced on a downward
moving 'front' and was efficient; when converted no
residual carnallite remains within the sylvinite.
Un-replaced carnallitite may occur below the
sylvinite (not above it) but the contact is always
abrupt. As a general rule, the conversion leads to a
halving of thickness and a doubling of grade though
this is also influence by the proportion of halite to
carnallite in the original seam.
* Very close to the top of the Salt or locally in areas
of greater structural disturbance, the sylvite may be
partially or entirely leached, leaving reddish
coloured halite with no or residual KCl, referred to
as 'ghost seams' but still identifiable; it is
possible that drill-hole Yangala-1 is in this type of
setting.
------------------------------------------------------------ --------------------------------------------------------------
2.4. DRILL HOLE
INFORMATION * A summary of all information material to the * The borehole collar positions of the holes are
understanding of the exploration results including a provided in Table 2 of the announcement, along with
tabulation of the following information for all the final depth. Holes were drilled vertically and no
Material drill holes: significant deviation was reported in drill-hole
downhole surveys.
* easting and northing of the drill hole collar
* Positions of the holes in relation to other holes are
shown in Figure 1 of the announcement. All
* elevation or RL (Reduced Level - elevation above sea drill-holes are shown on the map.
level in metres) of the drill hole collar
* dip and azimuth of the hole
* down hole length and interception depth
* 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.
------------------------------------------------------------ --------------------------------------------------------------
2.5 DATA AGGREGATION
METHODS * In reporting Exploration Results, weighting averaging * No grade data from the historic holes is reported.
techniques, maximum and/or minimum grade truncations Grades for the seams were determined from data from
(e.g. cutting of high grades) and cut-off grades are the Kola and Dougou Extension Deposits, data which
usually Material and should be stated. has been reported previously.
* 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.
------------------------------------------------------------ --------------------------------------------------------------
2.6 RELATIONSHIP
BETWEEN MINERALISATION * These relationships are particularly important in the * No information regarding the orientation of the
WIDTHS AND INTERCEPT reporting of Exploration Results. potash layers in the historic holes is provided. As
LENGTHS grade data for these holes is not reported, the
relationship between mineralisation widths and
* If the geometry of the mineralisation with respect to intercept length are not considered.
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').
------------------------------------------------------------ --------------------------------------------------------------
2.7 DIAGRAMS
* Appropriate maps and sections (with scales) and * Relevant diagrams are provided in the announcement.
tabulations of intercepts should be included for any The previous announcement (20 August 2018) for the
significant discovery being reported These should Dougou Extension Mineral Resource Estimate contain
include, but not be limited to a plan view of drill other useful diagrams.
hole collar locations and appropriate sectional
views.
------------------------------------------------------------ --------------------------------------------------------------
2.8 BALANCED
REPORTING * Where comprehensive reporting of all Exploration * All relevant exploration data is reported. Potash
Results is not practicable, representative reporting intersections including sylvinite, carnallitite and
of both low and high grades and/or widths should be leached seams within the deposit area are provided in
practiced to avoid misleading reporting of Table 3 of the announcement.
Exploration Results.
------------------------------------------------------------ --------------------------------------------------------------
2.9 OTHER
SUBSTANTIVE * Other exploration data, if meaningful and material, * Density of the seams (in Table 1 of the announcement)
EXPLORATION should be reported including (but not limited to): is determined from a large dataset of density data
DATA geological observations; geophysical survey results; for the Kola and Dougou Extension Deposits. The
geochemical survey results; bulk samples - size and Company has established a direct relationship between
method of treatment; metallurgical test results; bulk KCl grade and density, which is robust due to the
density, groundwater, geotechnical and rock fact that the sylvinite in all intersections is
characteristics; potential deleterious or comprised of over 97.5% of only two minerals; halite
contaminating substances. and sylvite.
------------------------------------------------------------ --------------------------------------------------------------
2.10 FURTHER
WORK * The nature and scale of planned further work (eg * No further exploration work is planned at present.
tests for lateral extensions or depth extensions or
large-scale step-out drilling).
* The announcement provides an indicative drilling and
seismic programme that would be aimed at potentially
* Diagrams clearly highlighting the areas of possible defining Mineral Resources. It is recommended that
extensions, including the main geological initial phase of wide-spaced seismic and the drilling
interpretations and future drilling areas, provided of 3-5 holes at each target is carried out.
this information is not commercially sensitive.
* If successful, a larger campaign of drilling and
seismic could be carried out to potentially support
Resource estimation. It is anticipated that a total
of approximately 5 to 10 holes and 50 km of seismic
data at Kola, and 15 to 30 holes and 200 km of
seismic data at DX North would be required.
* The positions of historic holes K60 and TK-1 should
be located in the field.
------------------------------------------------------------ --------------------------------------------------------------
Glossary of Terms
Term Explanation
------------------------------------------------------------------
Albian The uppermost subdivision of the Early/Lower Cretaceous
epoch/series. Its approximate time range is 113.0
+/- 1.0 Ma to 100.5 +/- 0.9 Ma (million years ago)
------------------------------------------------------------------
anhydrite Anhydrous calcium sulphate, CaSO(4) .
------------------------------------------------------------------
Aptian a subdivision of the Early or Lower Cretaceous epoch
or series and encompasses the time from 125.0 +/-
1.0 Ma to 113.0 +/- 1.0 Ma
------------------------------------------------------------------
aquifer An underground layer of water-bearing permeable rock,
rock fractures or unconsolidated materials (gravel,
sand, or silt)
------------------------------------------------------------------
aquitard A zone within the earth that restricts the flow of
groundwater from one aquifer to another.
------------------------------------------------------------------
assay in this case refers to the analysis of the chemical
composition of samples in the laboratory
------------------------------------------------------------------
bischofite Hydrous magnesium chloride minerals with formula,
MgCl(2) --6H(2) O and CaMgCl(2) --12H(2) O
------------------------------------------------------------------
brine Brine is a high-concentration solution of salt in
water
------------------------------------------------------------------
carbonate any rock composed mainly of carbonate minerals such
as calcite or dolomite
------------------------------------------------------------------
carnallite an evaporite mineral, a hydrated potassium magnesium
chloride with formula KMgCl. (3) -- 6(H(2) O)
------------------------------------------------------------------
carnallitite a rock comprised predomiantly of the minerals carnallite
and halite
------------------------------------------------------------------
clastic Clastic rocks are composed of fragments, or clasts,
of pre-existing minerals and rock.
------------------------------------------------------------------
clay A fine-grained sedimentary rock.
------------------------------------------------------------------
collars (drill-hole) the top of the drill-hole
------------------------------------------------------------------
composite (sample) an interval of uniform length for which attributes
such as grade are determined by combining or cutting
original samples of greater or lesser length, to obtain
a uniform support size
------------------------------------------------------------------
conformable refers to layers of rock between which there is no
loss of the geological record
------------------------------------------------------------------
core (drill) the cylindrical length of rock extracted by the process
of diamond drill coring
------------------------------------------------------------------
Cretaceous the last of the three periods of the Mesozoic Era.
The Cretaceous began 145.0 million years ago and ended
66 million years ago
------------------------------------------------------------------
cross-section an image showing a slice (normally vertical) through
the sub-surface
------------------------------------------------------------------
diamond coring the method of extracting cores of rock by using a
circular diamond-tipped bit (though may be tungsten
carbide)
------------------------------------------------------------------
dip in this case refers to the angle of inclination of
a layer of rock, measured in degrees or % from horizontal
------------------------------------------------------------------
dolomite anhydrous carbonate mineral composed of calcium magnesium
carbonate, ideally CaMg(CO(3) )(2) . The term is also
used for a sedimentary carbonate rock composed mostly
of the mineral dolomite.mineral form is indicated
by italic font
------------------------------------------------------------------
domain (mineral) a spatial zone within which material is modelled/expected
to be of a type or types that can be treated in the
same way, in this case in terms of resource estimation
------------------------------------------------------------------
drill-hole a hole drilled to obtain samples of the mineralization
and host rocks, also known as boreholes or just holes
------------------------------------------------------------------
euhedral crystals with well defined crystal form
------------------------------------------------------------------
evaporite Sediments chemically precipitated due to the evaporation
of an aqueous solution or brine
------------------------------------------------------------------
Exploration Target As per JORC 2012: An Exploration Target is a statement
or estimate of the exploration potential of a mineral
deposit in a defined geological setting where the
statement or estimate, quoted as a range of tonnes
and a range of grade (or quality), relates to mineralisation
for which there has been insufficient exploration
to estimate a Mineral Resource.
------------------------------------------------------------------
fault A planar fracture or discontinuity in a volume of
rock, across which there has been significant displacement
as a result of rock mass movement.
------------------------------------------------------------------
gamma-ray A gamma ray or gamma radiation is penetrating electromagnetic
radiation arising from the radioactive decay of atomic
nuclei.
------------------------------------------------------------------
geotechnical Refers to the physical behavior of rocks, particularly
relevant for the Mine design requiring geotechnical
engineering
------------------------------------------------------------------
Gondwana Gondwana or Gondwanaland, was a supercontinent that
formed from the unification of several cratons in
the Late Neoproterozoic, merged with Euramerica in
the Carboniferous to form Pangaea, and began to fragment
in the Mesozoic
------------------------------------------------------------------
graben A graben is a basin bound by normal faults either
side, formed by the subsidence of the basin due to
extension
------------------------------------------------------------------
gypsum soft sulfate mineral composed of calcium sulfate dehydrate,
with the chemical formula CaSO. (4) --2H(2) O.
------------------------------------------------------------------
halite The mineral form of sodium chloride (NaCl), salt.
------------------------------------------------------------------
horst a horst is a raised fault block bounded by normal
faults. A horst is a raised block of the Earth's crust
that has lifted, or has remained stationary, while
the land on either side (grabens) have subsided
------------------------------------------------------------------
Indicated Mineral An 'Indicated Mineral Resource' is that part of a
Resource Mineral Resource for which quantity, grade (or quality),
densities, shape and physical characteristics are
estimated with sufficient confidence to allow the
application of Modifying Factors in sufficient detail
to support mine planning and evaluation of the economic
viability of the deposit. Geological evidence is derived
from adequately detailed and reliable exploration,
sampling and testing gathered through appropriate
techniques from locations such as outcrops, trenches,
pits, workings and drillholes, and is sufficient to
assume geological and grade (or quality) continuity
between points of observation where data and samples
are gathered. An Indicated Mineral Resource has a
lower level of confidence than that applying to a
Measured Mineral Resource and may only be converted
to a Probable Ore Reserve.
------------------------------------------------------------------
Inferred Mineral An 'Inferred Mineral Resource' is that part of a Mineral
Resource Resource for which quantity and grade (or quality)
are estimated on the basis of limited geological evidence
and sampling. Geological evidence is sufficient to
imply but not verify geological and grade (or quality)
continuity. It is based on exploration, sampling and
testing information gathered through appropriate techniques
from locations such as outcrops, trenches, pits, workings
and drillholes. An Inferred Mineral Resource has a
lower level of confidence than that applying to an
Indicated Mineral Resource and must not be converted
to an Ore Reserve. It is reasonably expected that
the majority of Inferred Mineral Resources could be
upgraded to Indicated Mineral Resources with continued
exploration.
------------------------------------------------------------------
insoluble material in this report, refers to material that cannot be
dissolved by water such as clay, quartz, anhydrite
------------------------------------------------------------------
Inverse Distance Inverse distance weighting (IDW) is a type of deterministic
weighting method for multivariate interpolation with a known
scattered set of points. The assigned values to unknown
points are calculated with a weightedaverage of the
values available at the known points.
------------------------------------------------------------------
JORC Joint Ore Reserves Committee of The Australasian Institute
of Mining and Metallurgy, Australian Institute of
Geoscientists and Minerals Council of Australia (JORC).
JORC issues the Australasian Code for Reporting of
Exploration Results, Mineral Resources and Ore Reserves,
last updated 2012 (JORC 2012).
------------------------------------------------------------------
limestone Limestone is a sedimentary rock. Its major materials
are the minerals calcite and aragonite which are different
crystal forms of calcium carbonate (CaCO(3) ), mostly
derived or in the form of skeletal fragments of marine
organisms such as coral, forams and molluscs
------------------------------------------------------------------
lithological refers to the observed characteristics if a rock type
(or lithology)
------------------------------------------------------------------
Measured Mineral A 'Measured Mineral Resource' is that part of a Mineral
Resource Resource for which quantity, grade (or quality), densities,
shape, and physical characteristics are estimated
with confidence sufficient to allow the application
of Modifying Factors to support detailed mine planning
and final evaluation of the economic viability of
the deposit. Geological evidence is derived from detailed
and reliable exploration, sampling and testing gathered
through appropriate techniques from locations such
as outcrops, trenches, pits, workings and drillholes,
and is sufficient to confirm geological and grade
(or quality) continuity between points of observation
where data and samples are gathered. A Measured Mineral
Resource has a higher level of confidence than that
applying to either an Indicated Mineral Resource or
an Inferred Mineral Resource. It may be converted
to a Proved Ore Reserve or under certain circumstances
to a Probable Ore Reserve.
------------------------------------------------------------------
Mineral Deposit A mineral deposit is a natural concentration of minerals
in the earth's crust.
------------------------------------------------------------------
Mineral Reserve the economically mineable part of a Measured and/or
Indicated Mineral Resource. It includes diluting materials
and allowances for losses, which may occur when the
material is mined or extracted and is defined by studies
at Pre-Feasibility or Feasibility level as appropriate
that include application of Modifying Factors. Such
studies demonstrate that, at the time of reporting,
extraction could reasonably be justified
------------------------------------------------------------------
Mineral Resource A 'Mineral Resource' is a concentration or occurrence
of solid material of economic interest in or on the
Earth's crust in such form, grade (or quality), and
quantity that there are reasonable prospects for eventual
economic extraction. The location, quantity, grade
(or quality), continuity and other geological characteristics
of a Mineral Resource are known, estimated or interpreted
from specific geological evidence and knowledge, including
sampling. Mineral Resources are sub-divided, in order
of increasing geological confidence, into Inferred,
Indicated and Measured categories.
------------------------------------------------------------------
mud-rotary a method of drilling using a rotating destructive
bit to penetrate the rocks and using water with various
additives referred to as the drilling fluid or 'mud'
------------------------------------------------------------------
muriate of potash The saleable form of potassium chloride, comprising
(MoP) a minimum of 95% KCl
------------------------------------------------------------------
organics in this report refers to material of organic origin
such as plant debris or peat, or bituminous material
------------------------------------------------------------------
overburden a general term referring to rocks above the rocks
hosting the ore.
------------------------------------------------------------------
potash refers to any of various mined and manufactured salts
that contain potassium in water-soluble form. In this
report generally refers to the potassium bearing rock
types
------------------------------------------------------------------
Pre-Cambrian The Precambrian (or Pre-Cambrian, sometimes abbreviated
p , or Cryptozoic) is the earliest part of Earth's
history, set before the current Phanerozoic Eon, between
4600 to 541 Ma
------------------------------------------------------------------
pycnometer A laboratory device used for measuring the density
of solids.
------------------------------------------------------------------
recovery (of drill refers to the amount of core recovered as a % of the
core) amount that should have been recovered if no loss
ws incurred.
------------------------------------------------------------------
recrystallization when minerals dissolve or partly dissolve and then
re-form typically with a different size and texture
------------------------------------------------------------------
rift refers to the splitting apart of the earth's crust
due to extension, typically resulting in crustal thinning
and normal faulting
------------------------------------------------------------------
rock-salt rock comprising predominantly of the mineral halite
------------------------------------------------------------------
room-and-pillar a method of mining whereby the ore is extracted in
blocks, leaving pillars of rock behind to support
the opening
------------------------------------------------------------------
sediment A naturally occurring material that is broken down
by processes of weathering and erosion, and is subsequently
transported by the action of wind, water, or ice,
and/or by the force of gravity acting on the particles.
------------------------------------------------------------------
seismic in this case seismic reflection, a method of exploration
geophysics that uses the principles of seismology
to estimate the properties of the Earth's subsurface
from reflected seismic waves. The method requires
a controlled seismic source of energy, such as dynamite
or Tovex blast, a specialized air gun or a seismic
vibrator
------------------------------------------------------------------
stratigraphy Stratigraphy is a branch of geology concerned with
the study of rock layers (strata) and layering (stratification).
It is primarily used in the study of sedimentary and
layered volcanic rocks
------------------------------------------------------------------
strike refers to the direction of preferred control of the
mineralization be it structural or depositional. In
this direction it is expected that there be greater
correlation of attributes
------------------------------------------------------------------
sylvinite a rock type comprised predominantly of the mineral
sylvite and halite
------------------------------------------------------------------
sylvite an evaporite mineral, potassium chloride (KCl)
------------------------------------------------------------------
unconformity An unconformity is a buried erosional or non-depositional
surface separating two rock masses or strata of different
ages, indicating that sediment deposition was not
continuous
------------------------------------------------------------------
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
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