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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Salt Lake Potash Limited | LSE:SO4 | London | Ordinary Share | AU000000SO44 | ORD NPV (DI) |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 2.45 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
TIDMSO4
RNS Number : 5108I
Salt Lake Potash Limited
20 June 2017
Hot Features
Premium
20 June 2017 AIM/ASX Code: SO4
SALT LAKE POTASH LIMITED
Work Accelerates at The Goldfields Salt Lakes Project
----------------------------------------------------------
The Board of Salt Lake Potash Limited (the Company or SLP) is pleased to provide an update on the Company's Goldfields Salt Lakes Project (GSLP), where work has accelerated substantially after the end of the summer wet season.
The Company's primary focus is to construct a Pilot Plant at the Goldfields Salt Lakes Project, intended to be the first salt-lake brine Sulphate of Potash (SOP) production operation in Australia. While proceeding with the analysis of options to construct a 20-40,000 tpa Pilot Plant at Lake Wells, the Company has also begun exploring the other lakes in the Goldfields Salt Lakes Project, starting with Lake Ballard and Lake Marmion.
Highlights since the March Quarterly Report include:
LAKE WELLS
Surface Aquifer
Ø The Lake Wells surface aquifer exploration program was completed, comprising a total of 250 shallow test pits and 10 test trenches. This work provides very high quality data for the hydrogeological model for the surface aquifer of the Lake, giving the Company a high level of confidence about the potential brine production from low cost surface trenching.
Ø The first trench test pumped in the Northern part of the Lake demonstrated very high brine flows and consistent brine chemistry.
Evaporation Pond Testwork
Ø The Company commenced construction of a number of test evaporation ponds of different designs to support the Company's model for cost-effective on-lake evaporation pond construction. The Lake Wells playa includes a pervasive brown silt with a high clay content averaging 55cm below surface, which potentially offers a major advantage for construction of low cost unlined evaporation ponds on the Lake.
Process Testwork
Ø The Site Evaporation Trial (SET) at Lake Wells has now processed approximately 215 tonnes of brine and produced 3.4 tonnes of harvest salts.
Ø The Company continues a range of process development testwork to enhance the Lake Wells process model. Raw brine or Lake Wells harvest salts have already produced substantial samples of SOP. Ongoing work at SGS (Perth), Bureau Veritas (Perth) and Saskatchewan Research Council (Canada) continues to enhance the process flowsheet and also produce further customer and testwork samples.
Pilot Plant
Ø The Company and its consultants have substantially advanced the Pilot Plant study for the GSLP.
LAKE BALLARD
Ø A surface aquifer exploration program has commenced at Lake Ballard with the mobilisation of an amphibious excavator. The Company also completed further surface brine sampling and reconnaissance work at Lake Ballard and Lake Marmion.
Process Testwork
Ø Initial evaporation testwork on Lake Ballard brine also indicates excellent potential to produce Sulphate of Potash (SOP) and additional co-products.
LAKE WELLS
Surface Aquifer Exploration Program
The Company has completed a substantial program of work investigating the geological and hydrogeological attributes of the Shallow Lake Bed Sediment hosted brine resource at Lake Wells. The information and data generated will be utilised in the Pilot Plant.
The total program includes 250 test pits and 10 trenches over the lake playa. The test pits are generally 1m wide x 1.5m long and 4.5m deep and confirm lithology and permeability of upper lake bed sediments and demonstrate spatial continuity of the surface aquifer.
Geological setting of the Shallow Aquifer
The general setting for the lake consists of Cenozoic (Quaternary - Holocene) brown to white to red, unconsolidated, gypsiferous sands, silts and clay units. These units also have varying silt and clay compositions.
Two distinct domains of geological deposition for the shallow aquifer were identified in the recent assessments. This is roughly correlated to the southern half of the lake playa and the northern half of the lake playa. The transition between the two domains does not occur at a hard boundary but rather a wide transition zone that may be correlated to the frequency of surface water inundation of the lake. Satellite imagery analysis by Geoscience Australia indicates that the northern part of the lake is inundated with surface water more frequently than in the south. This is supported by anecdotal discussions with the local landowners and experience during exploration activities.
Long Term Pumping Test - Test Trench P3b
A 50m long trench (P3b) was constructed and test pumped over a 7 day period. This is the first trench pump test conducted in the Northern part of the Lake. The brine yield into the trench was very high and a 6L/s pump could not dewater the trench sufficiently to stress the surrounding aquifer. Adding an additional 3L/s pump to the system was only able to draw down the brine level temporarily in the trench.
During the full duration of the pumping test an average flow rate of 6.3 litres per second (L/s) was achieved, demonstrating very high inflows from the Lake Bed Aquifer, substantially higher than achieved in other trench pumping tests at Lake Wells. Note that the brine yield from this trench is not representative of the whole shallow aquifer in this area.
The geological logs for the trench recorded a coarse grained (massive) evaporative sand horizon that occurs from 1m to 1.5m below surface. This unit is the main contributor to the high permeability encountered at the trench.
This layer contains a crystalline zone with large crystals visually yielding very large volumes of brine during trench dewatering. This zone was also encountered in two adjacent test pits (LWTT209 and 211) located 200m either side of the trench.
A video showing the high flow rate out of the trench is available on the Company's website (http://www.saltlakepotash.com.au/projects/video)
Results from the trench testing are summarised as follows:
-- The pumping rate averaged 545m(3) /day (6.3 L/s) and remained relatively constant for the duration of the test.
-- The cumulative pumping volume during the test was 3,800m(3) (or 3.8 megalitres ML).
-- Drawdown was observed at all observation bores and after 7 days ranged from 0.6m at an observation point 10m from the trench to 0.2m at an observation point 50m from the trench.
-- The relatively high flow rate and extensive cone of drawdown indicate that the trench is excavated into a highly permeable part of the lake.
-- This local geological setting is not representative of the whole shallow aquifer.
Brine was sampled daily over the duration of the test. The brine chemistry remained consistent over the test period with an average grade of potassium of 4,311 Mg/l, ranging from 4,000 to 4,800 Mg/L.
Evaporation Ponds Testwork
The Lake Wells geological setting typically includes a pervasive brown silt layer with a high clay content around 55cm below the surface. An initial assessment by MHA Geotechnical Engineers indicates that this clay material appears to be suitable for on lake pond base and embankment construction.
In conjunction with international consultants and geotechnical specialists, SLP has developed a series of on lake pond designs suitable for the stratigraphy at Lake Wells, which are expected to minimise brine losses and optimize capital costs.
During May, a 30 tonne excavator was mobilised to Lake Wells to commence construction of the different pond designs, as well as a control pond to support infiltration measurement analysis. Each of the trial ponds are 25m by 25m and the ultimate berm height will be 1.5m. To date, the 30 tonne excavator is operating efficiently on the Lake and has excavated the first berm lift for all of the trial ponds. Upon completion of construction of the ponds, test work will be performed to determine the optimal pond design to contain brine leakage.
For a video showing the excavation process on the Lake see the following link to the Company's website (http://www.saltlakepotash.com.au/projects/video).
Environmental Studies
An experienced Western Australian environmental consultancy company, Phoenix Environmental Sciences Pty Ltd, undertook a detailed flora and vegetation survey and a Level 1 terrestrial fauna survey at the Lake Wells Project. The work was focused on providing information to support environmental approval for the Pilot Plant
The study covered an area of approximately 1,777 hectares. The surveys included a detailed desktop review, systematic quadrat and transect sampling and mapping of vegetation communities, fauna habitat assessment and mapping, and targeted searches for significant flora, vertebrate fauna and short range endemic invertebrates (SREs).
No threatened or priority flora were recorded in the survey.
Suitable habitat was identified for several conservation significant vertebrate species; however, no highly restricted habitats were recorded.
Pilot Plant
As announced on 20 April 2017, Amec Foster Wheeler have been engaged to prepare an analysis of the alternatives for the Company to construct a Pilot Plant at the Goldfields Salt Lakes Project.
International Brine and salt processing experts Carlos Perucca Processing Consulting Ltd (CPPC) and AD Infinitum Ltd (AD Infinitum) are also engaged for the Study.
Substantial progress continues on pond and trench design, mass balance modelling, process flowsheet design, major equipment quotations, costings and transportation alternative studies.
Process Testwork
The Company continues a range of process development testwork to enhance the Lake Wells process model.
Site Evaporation Trial
A large scale, continuous Site Evaporation Trial (SET) continued at Lake Wells to refine process design criteria for the halite evaporation ponds and subsequent harvest salt ponds. The SET has to date processed approximately 215 tonnes of brine and produced 3.4 tonnes of harvest salts.
With the onset of winter, the evaporation rate and harvest salt production has decreased in line with expectations. Approximately 1,800kg of harvest salt was harvested in April and May, at an average potassium grade of 7%. Optimum harvests have recorded potassium grades up to 9.9%. Harvest salts have been transported to Perth and are currently being processed at the Bureau Veritas laboratory for grading and preparation for further processing. The harvest salts recovered from the SET contain approximately 50% Kainite (KMg(SO(4) )Cl.3(H2O)), a potassium double salt which the Company has previously successfully processed into SOP.
Process Testwork - Saskatchewan Research Council (SRC)
Process optimisation work continues at SGS Laboratories in Perth and the Company has also recently engaged Saskatchewan Research Council (SRC) in Saskatoon, Canada to further optimise the attrition, flotation, conversion and crystallisation process for production of SOP from harvest salts. SRC are global experts in the refinement and testing of salt based processes, particularly in the area of potash resources.
The aims of the work at SRC are to validate and to refine the process parameters used in the production model and process flowsheet, including feed composition analysis, flotation system arrangement and process plant recovery factors.
The harvest salts sent to both SGS and SRC for processing have undergone XRD analysis to identify the key salt crystals in the sample. A 90kg sample of Lake Wells harvest salts was despatched to SRC for testwork. The sample contains 57.1% Kainite which is within the expected range for harvest salts at the Lake Wells operation and ideal for processing and conversion to SOP.
Process Testwork - SGS Laboratories
SGS laboratories in Perth have also been engaged to process a further 200kg of salt harvested from the Lake Wells Site Evaporation Trial. This new test work program includes some process refinements from previous work and is expected to produce a substantial quantity of SOP product samples for evaluation and further testwork.
LAKE BALLARD
Lake Ballard is located in the Goldfields region of Western Australia approximately 140km north of Kalgoorlie. SLP's holding comprises 788km(2) of granted and 66km(2) of exploration license applications, substantially covering the Lake Ballard playa. The Company recently completed a heritage clearance survey over the area, and has now initiated a comprehensive exploration program and continued process testwork.
Surface Aquifer Exploration Program
After the successful completion of the surface aquifer exploration program at Lake Wells, the Company mobilised an 8.5 tonne amphibious excavator to Lake Ballard to gather geological and hydrological data about the shallow brine aquifer hosted by the Quaternary Alluvium stratigraphic sequence in the upper levels of the Lake.
The aim of the program is to evaluate the geology of the shallow Lake Bed Sediments, and to undertake pumping trials to provide estimates of the potential brine yield from trenches in the shallow sediment.
The excavator program will also provide important geological and geotechnical information for potential siting and construction of trenches and on-lake brine evaporation ponds.
There have been three transects of test pits completed in the eastern portion of Lake Ballard that have revealed a varied stratigraphy. The shallow test pits, most less than 3.5m, have mainly encountered clayey lacustrine sediments with minor groundwater inflows; however, there have been a number of test pits that encountered higher groundwater inflow associated with zones of indurated and laminated clayey sediments and karstic calcrete (a limestone). Short-term groundwater inflows associated with the calcrete are between 10 to 15 L/sec. The distribution of the calcrete will continue to be resolved with test pit investigations, but its nature is cavernous and is considered prospective for trenching development. Deeper test pits to a depth of 6m are planned to fully penetrate the calcrete for improved hydraulic assessment of its long-term yield potential.
Sampling Program and Reconnaissance Work
During May 2017, the Company undertook further surface brine sampling of the near surface aquifer at both Lake Ballard and Lake Marmion. To date the average potassium grade for samples taken for Lake Ballard is 1,793Mg/L and at Lake Marmion the average potassium grade is 1,783Mg/L.
Process Development Testwork
Two bulk evaporation trials of Lake Ballard brine were conducted at Bureau Veritas, following on from the initial trial reported in the March Quarter. The feed brines for the trials (see table below) were extracted at different locations on the Lake and during a period of high rainfall and give an indication of the different crystallisation pathways possible when dilution and other effects produce variable brine chemistry. The specifications of the feed samples represented in the table below:
Trial Initial Mass Solution ICP (mg/L)
-------- --------------
K Mg SO(4)
-------- -------------- ------- ------- ------
Bulk 1 1,997kg 1,440 4,670 7,230
-------- -------------- ------- ------- ------
Bulk 2 1,009kg 2,140 7,360 8,790
-------- -------------- ------- ------- ------
Table 1: Brine Chemistry of Feed Brines
The main conclusions from the trials were:
-- High purity halite (>97% on a dry basis) is produced initially in substantial quantities; -- There is a clear transition to production of double salts;
-- Significant potassium-magnesium double salts are produced in the final harvest phase (>90% evaporation), with speciation to be confirmed by XRD analysis. It is anticipated these salts will be readily amenable for processing into SOP and potential co-products, in a similar process to Lake Wells.
Due to the different feed chemistry observed in these bulk trials, different evaporation pathways were observed. In trials Bulk 1 and Bulk 2 the evaporation pathway, following bulk halite removal, favours kainite production immediately. Magnesium sulphate, in these cases, is co-produced with the double salts. Mineralogy work on the harvested salts is underway to confirm the salt species present but it appears Kainite is the dominant potassium containing salt, similar to Lake Wells.
Mineralogy results from these two trials the Company will assist in developing a strategy to maximise the potential co-product streams from Lake Ballard.
Competent Persons Statement
The information in this report that relates to Exploration Results, or Mineral Resources for Lake Wells, Lake Ballard and Lake Marmion is based on information compiled by Mr Ben Jeuken, who is a member Australian Institute of Mining and Metallurgy. Mr Jeuken is employed by Groundwater Science Pty Ltd, an independent consulting company. Mr Jeuken has sufficient experience, which is relevant to the style of mineralisation and type of deposit under consideration and to the activity, which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Jeuken consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
The information in this report that relates to Process Testwork Results is based on, and fairly represents, information compiled by Mr Bryn Jones, BAppSc (Chem), MEng (Mining) who is a Fellow of the AusIMM, a 'Recognised Professional Organisation' (RPO) included in a list promulgated by the ASX from time to time. Mr Jones is a Director of Salt Potash Limited. Mr Jones has sufficient experience, which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking, to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Jones consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
APPIX 1 - LAKE WELLS TEST PIT LOCATION DATA
Hole_ID East North EOH Hole_ID East North EOH --------- ------- -------- ----- -------- ------- -------- ----- LWTT219 526087 7045871 3.0 LWTT235 537734 7022883 3.3 --------- ------- -------- ----- -------- ------- -------- ----- LWTT220 525844 7045561 0.9 LWTT236 537460 7022697 3.2 --------- ------- -------- ----- -------- ------- -------- ----- LWTT221 525586 7045247 0.75 LWTT237 537245 7022502 3 --------- ------- -------- ----- -------- ------- -------- ----- LWTT222 525844 7045561 3.0 LWTT238 536981 7022326 3 --------- ------- -------- ----- -------- ------- -------- ----- LWTT223 525027 7044676 1.4 LWTT239 536775 7022130 3 --------- ------- -------- ----- -------- ------- -------- ----- LWTT224 524731 7044423 3.1 LWTT240 536560 7021944 3.5 --------- ------- -------- ----- -------- ------- -------- ----- LWTT225 524467 7044146 2 LWTT241 536355 7021768 3.5 --------- ------- -------- ----- -------- ------- -------- ----- LWTT226 524160 7043882 2 LWTT242 536120 7021782 2.9 --------- ------- -------- ----- -------- ------- -------- ----- LWTT227 523879 7043612 3.5 LWTT243 535905 7021406 2.7 --------- ------- -------- ----- -------- ------- -------- ----- LWTT228 523554 7043355 2.5 LWTT244 535689 7021200 3.5
--------- ------- -------- ----- -------- ------- -------- ----- LWTT229 523255 7043091 3.5 LWTT245 535455 7020995 3 --------- ------- -------- ----- -------- ------- -------- ----- LWTT230 522973 7042806 3.6 LWTT246 535239 7020790 3.5 --------- ------- -------- ----- -------- ------- -------- ----- LWTT231 525862 7044938 3.5 LWTT247 535024 7020584 3.25 --------- ------- -------- ----- -------- ------- -------- ----- LWTT232 526386 7044356 2.4 LWTT248 534799 7020369 3.25 --------- ------- -------- ----- -------- ------- -------- ----- LWTT233 537014 6998515 4 LWTT249 534545 7020154 3.25 --------- ------- -------- ----- -------- ------- -------- ----- LWTT234 537213 6998534 4 LWTT250 534311 7020005 3.25 --------- ------- -------- ----- -------- ------- -------- -----
APPIX 2 - LAKE WELLS BRINE CHEMISTRY ANALYSIS
HOLE ID From To K Cl Na Ca Mg SO(4) TDS
(m) (m) (kg/m(3) ) (kg/m(3) ) (kg/m(3) ) (kg/m(3) ) (kg/m(3) ) (kg/m(3) ) (g/kg)
--------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ --------
LWTT208 0 3 4.800 151.000 89.600 0.500 7.260 15.000 275
--------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ --------
LWTT209 0 3.5 4.200 147.000 88.200 0.580 6.300 17.400 278
--------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ --------
LWTT210 0 2.5 4.400 148.000 89.200 0.500 7.200 20.400 274
--------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ --------
LWTT211 0 2.5 4.000 146.000 87.000 0.480 7.000 21.000 274
--------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ --------
LWTT213 0 2.4 4.000 152.000 88.200 0.440 8.500 22.800 272
--------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ --------
LWTT214 0 3.5 4.000 151.000 91.400 0.500 7.900 20.400 275
--------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ --------
LWTT215 0 3.8 4.200 152.000 89.000 0.480 8.200 21.600 277
--------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ --------
LWTT216 0 3.5 4.400 154.000 91.000 0.500 7.800 22.200 279
--------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ --------
LWTT218 0 3.5 4.800 151.000 90.000 0.480 7.100 19.200 272
--------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ --------
LWTT220 0 0.9 4.400 151.000 93.600 0.540 6.200 18.000 281
--------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ --------
LWTT221 0 0.8 4.600 150.000 94.800 0.520 6.600 19.800 285
--------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ --------
LWTT223 0 1.4 5.000 152.000 95.600 0.480 6.800 20.400 285
--------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ --------
LWTT224 0 3.1 4.400 149.000 92.800 0.480 6.700 21.600 281
--------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ --------
LWTT225 0 2.0 4.800 149.000 94.000 0.520 7.200 21.600 282
--------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ --------
LWTT226 0 2.0 4.000 145.000 91.400 0.500 6.700 21.000 274
--------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ --------
LWTT227 0 3.5 4.000 148.000 91.800 0.480 7.000 22.200 277
--------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ --------
LWTT228 0 2.5 3.800 147.000 91.600 0.500 7.100 21.600 275
--------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ --------
LWTT230 0 3.6 4.400 149.000 93.200 0.540 7.500 19.800 283
--------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ --------
LWTT231 0 3.5 4.400 144.000 91.200 0.500 7.300 21.000 270
--------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ --------
Trench
P3b 0 4.5 4.400 158.000 97.000 0.520 6.500 21.600 302
--------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ --------
Trench
P3b 0 4.5 4.000 146.000 86.800 0.440 7.400 21.000 272
--------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ --------
Trench
P3b 0 4.5 4.000 146.000 88.600 0.500 6.600 19.800 274
--------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ --------
Trench
P3b 0 4.5 4.000 146.000 86.200 0.500 6.800 19.800 270
--------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ --------
Trench
P3b 0 4.5 4.200 144.000 87.800 0.500 6.700 19.800 270
--------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ --------
Trench
P3b 0 4.5 4.000 144.000 87.200 0.520 6.600 19.200 268
--------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ --------
Trench
P3b 0 4.5 4.000 146.000 87.400 0.500 6.700 19.800 270
--------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ --------
Trench
P3b 0 4.5 4.000 145.000 87.000 0.500 6.700 19.800 272
--------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ --------
Trench
P3b 0 4.5 4.000 145.000 86.800 0.500 6.800 19.800 271
--------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ --------
LWTT242 0 2.9 3.380 151.650 87.300 0.500 6.600 19.800 280
--------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ --------
LWTT247 0 3.25 3.780 134.650 79.900 0.527 7.940 18.700 248
--------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ --------
LWTT248 0 3.25 3.960 136.950 81.500 0.647 5.680 16.300 250
--------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ --------
LWTT249 0 3.25 3.950 143.950 84.600 0.635 5.660 17.000 262
--------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ --------
LWTT250 0 3.25 3.820 147.950 86.500 0.630 6.070 16.300 269
--------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ --------
LWTT235 0 3.3 3.380 120.800 69.400 0.619 6.470 16.200 217
--------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ --------
LWTT236 0 3.2 3.730 157.050 91.800 1.010 4.880 11.400 284
--------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ --------
LWTT237 0 3.0 3.540 157.050 90.200 0.527 7.910 18.400 282
--------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ --------
LWTT238 0 3.0 3.420 156.200 90.100 0.523 8.280 18.800 279
--------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ -------- LWTT239 0 3.0 3.340 155.150 88.300 0.514 8.510 19.200 275 --------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ -------- LWTT240 0 3.5 3.320 154.100 88.000 0.519 8.360 19.300 273 --------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ -------- LWTT241 0 3.5 3.410 150.950 87.500 0.547 8.370 18.500 268 --------- ------ ----- ------------ ------------ ------------ ------------ ------------ ------------ --------
APPIX 3 - LAKE BALLARD & LAKE MARMION BRINE CHEMISTRY ANALYSIS
HOLE ID East North K Cl Na Ca Mg SO(4) TDS
(kg/m(3) ) (kg/m(3) ) (kg/m(3) ) (kg/m(3) ) (kg/m(3) ) (kg/m(3) ) (g/kg)
--------- ------- -------- ------------ ------------ ------------ ------------ ------------ ------------ --------
Lake Ballard
--------------------------------------------------------------------------------------------------------------------------
LBPT009 325586 6731856 1.780 161.400 85.500 0.883 9.590 8.460 272
--------- ------- -------- ------------ ------------ ------------ ------------ ------------ ------------ --------
LBPT010 325447 6732100 2.020 160.500 86.100 0.999 8.080 8.250 276
--------- ------- -------- ------------ ------------ ------------ ------------ ------------ ------------ --------
LBPT012 326492 6732881 2.100 162.100 87.000 0.864 9.680 8.790 279
--------- ------- -------- ------------ ------------ ------------ ------------ ------------ ------------ --------
LBPT013 319001 6727398 1.450 112.050 63.700 1.070 4.800 5.250 193
--------- ------- -------- ------------ ------------ ------------ ------------ ------------ ------------ --------
LBPT014 277821 6735449 1.840 134.450 76.300 1.120 5.350 6.900 233
--------- ------- -------- ------------ ------------ ------------ ------------ ------------ ------------ --------
LBPT015 278070 6735444 1.750 133.900 74.600 1.160 4.980 6.300 230
--------- ------- -------- ------------ ------------ ------------ ------------ ------------ ------------ --------
LBPT016 319201 6727398 1.850 153.500 83.100 1.140 7.000 7.680 261
--------- ------- -------- ------------ ------------ ------------ ------------ ------------ ------------ --------
LBPT017 308680 6730653 1.440 110.800 62.700 1.060 4.730 5.160 190
--------- ------- -------- ------------ ------------ ------------ ------------ ------------ ------------ --------
LBPT018 308660 6730898 1.860 153.500 83.800 1.140 7.050 7.620 260
--------- ------- -------- ------------ ------------ ------------ ------------ ------------ ------------ --------
LBPT019 301117 6725240 1.170 113.250 61.900 0.858 5.960 8.310 193
--------- ------- -------- ------------ ------------ ------------ ------------ ------------ ------------ --------
LBPT020 301140 6725500 1.160 115.550 65.900 1.190 5.730 8.940 200
--------- ------- -------- ------------ ------------ ------------ ------------ ------------ ------------ --------
LBPT021 302640 6727058 1.600 149.650 83.700 1.010 6.790 9.030 255
--------- ------- -------- ------------ ------------ ------------ ------------ ------------ ------------ --------
LBPT022 302354 6727064 1.700 150.700 83.600 0.999 6.910 9.000 258
--------- ------- -------- ------------ ------------ ------------ ------------ ------------ ------------ --------
LBPT023 304245 6745381 1.730 129.700 74.400 1.280 5.470 6.690 220
--------- ------- -------- ------------ ------------ ------------ ------------ ------------ ------------ --------
LBPT024 304000 6745229 1.770 128.850 74.100 1.190 5.300 6.240 219
--------- ------- -------- ------------ ------------ ------------ ------------ ------------ ------------ --------
LBPT025 302690 6744000 1.850 141.100 78.600 1.050 6.410 7.710 240
--------- ------- -------- ------------ ------------ ------------ ------------ ------------ ------------ --------
LBPT026 302763 6743750 1.840 155.950 85.400 0.950 7.420 8.880 266
--------- ------- -------- ------------ ------------ ------------ ------------ ------------ ------------ --------
Lake Marmion
--------------------------------------------------------------------------------------------------------------------------
Pit 1 346402 6725786 1.7100 161.100 89.600 0.6150 10.300 13.600
--------- ------- -------- ------------ ------------ ------------ ------------ ------------ ------------ --------
Pit 3 352696 6716844 2.1700 160.850 94.900 0.9740 7.520 8.790
--------- ------- -------- ------------ ------------ ------------ ------------ ------------ ------------ --------
Pit 3 352696 6716844 1.7700 160.200 97.900 0.7430 8.190 11.300
--------- ------- -------- ------------ ------------ ------------ ------------ ------------ ------------ --------
Pit 4 352682 6717224 2.0800 159.250 92.900 0.9830 7.460 8.820
--------- ------- -------- ------------ ------------ ------------ ------------ ------------ ------------ --------
Pit 4 352682 6717224 1.6200 147.600 84.100 0.6740 8.770 12.500
--------- ------- -------- ------------ ------------ ------------ ------------ ------------ ------------ --------
Pit 5 362293 6717962 0.8200 81.750 48.700 0.7380 3.810 5.850
--------- ------- -------- ------------ ------------ ------------ ------------ ------------ ------------ --------
Pit 8 365142 6710196 2.1500 163.900 90.900 0.6380 10.700 12.500
--------- ------- -------- ------------ ------------ ------------ ------------ ------------ ------------ --------
Pit 9 368479 6708052 1.8300 136.400 79.100 1.1500 6.480 8.190
--------- ------- -------- ------------ ------------ ------------ ------------ ------------ ------------ --------
Pit 10 368195 6708021 1.6700 137.650 79.000 1.1900 6.020 7.920
--------- ------- -------- ------------ ------------ ------------ ------------ ------------ ------------ --------
Pit 11 366884 6706474 1.7700 173.350 100.000 0.5500 8.880 13.600
--------- ------- -------- ------------ ------------ ------------ ------------ ------------ ------------ --------
Pit 13 360167 6704704 1.6800 144.650 85.900 0.9720 6.500 9.090
--------- ------- -------- ------------ ------------ ------------ ------------ ------------ ------------ --------
Pit 14 340196 6725349 1.1700 82.650 48.500 0.7090 4.670 5.370
--------- ------- -------- ------------ ------------ ------------ ------------ ------------ ------------ --------
Pit 15 342816 6722193 2.8600 167.900 89.300 0.4500 15.300 18.200
--------- ------- -------- ------------ ------------ ------------ ------------ ------------ ------------ --------
Pit 16 343083 6722234 2.7200 165.100 92.900 0.5830 12.300 15.100
--------- ------- -------- ------------ ------------ ------------ ------------ ------------ ------------ --------
Pit 18 348685 6712387 2.0800 171.600 103.000 0.6790 8.290 10.800
--------- ------- -------- ------------ ------------ ------------ ------------ ------------ ------------ --------
APPIX 4 - JORC TABLE ONE
Section 1: Sampling Techniques and Data
Criteria JORC Code explanation Commentary
Sampling techniques Nature and quality of sampling (eg Lake Wells
cut channels, random chips, or Geological samples were obtained from
specific specialised industry the excavator bucket at regular depth
standard measurement tools intervals.
appropriate to the minerals under
investigation, such as down hole Brine samples were taken from the
gamma sondes, or handheld XRF discharge of trench dewatering pumps.
instruments, etc). These examples
should not be taken as limiting Lake Ballard and Lake Marmion
the broad meaning of sampling. Brine samples were collected from
Include reference to measures taken shallow pits dug into the lake
to ensure sample representivity and surface to a depth of 0.5
the appropriate calibration to 0.75m. Brine samples are composite
of any measurement tools or systems samples from the water that filled
used. the pit after digging.
Aspects of the determination of The material in the pit was
mineralisation that are Material to geologically logged as a composite
the Public Report. qualitative description for
In cases where 'industry standard' the entire pit.
work has been done this would be
relatively simple (eg
'reverse circulation drilling was
used to obtain 1 m samples from which
3 kg was pulverised
to produce a 30 g charge for fire
assay'). In other cases more
explanation may be required,
such as where there is coarse gold
that has inherent sampling problems.
Unusual commodities
or mineralisation types (eg submarine
nodules) may warrant disclosure of
detailed information.
Drilling techniques Drill type (eg core, reverse Lake Wells
circulation, open-hole hammer, rotary Excavation with a low ground pressure
air blast, auger, Bangka, excavator.
sonic, etc) and details (eg core
diameter, triple or standard tube, Lake Ballard and Lake Marmion
depth of diamond tails, Not applicable
face-sampling bit or other type,
whether core is oriented and if so,
by what method, etc).
Drill sample recovery Method of recording and assessing Lake Wells
core and chip sample recoveries and Not applicable for trenching.
results assessed.
Measures taken to maximise sample Lake Ballard and Lake Marmion
recovery and ensure representative Not applicable
nature of the samples.
Whether a relationship exists between
sample recovery and grade and whether
sample bias may
have occurred due to preferential
loss/gain of fine/coarse material.
Logging Whether core and chip samples have Lake Wells
been geologically and geotechnically All trenches were geologically logged
logged to a level qualitatively by a qualified
of detail to support appropriate geologist, noting in particular
Mineral Resource estimation, mining moisture content of sediments,
studies and metallurgical lithology, colour, induration,
studies. grainsize and shape, matrix
Whether logging is qualitative or and structural observations. Flow
quantitative in nature. Core (or rate data was logged to note water
costean, channel, etc) inflow zones.
photography.
The total length and percentage of Lake Ballard and Lake Marmion
the relevant intersections logged. All pits were geologically logged by
a qualified geologist, noting colour,
induration, moisture
content of sediments grain size
distribution and lithology.
Sub-sampling techniques and sample If core, whether cut or sawn and Brine samples were taken from the
preparation whether quarter, half or all core discharge of trench dewatering pumps.
taken. Sample bottles are rinsed with brine
If non-core, whether riffled, tube which is discarded prior to sampling.
sampled, rotary split, etc and All brine samples taken in the field
whether sampled wet or dry. are split into two sub-samples:
For all sample types, the nature, primary and duplicate.
quality and appropriateness of the Reference samples were analysed at a
sample preparation technique. separate laboratory for QA/QC.
Quality control procedures adopted Representative chip trays and bulk
for all sub-sampling stages to lithological samples are kept for
maximise representivity records
of samples. .
Measures taken to ensure that the Lake Ballard and Lake Marmion
sampling is representative of the in Not applicable
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 Reference standard solutions were
times, calibrations sent to Bureau Veritas Minerals
factors applied and their derivation, Laboratory to check accuracy.
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 Lake Wells
Exploration Results. Trench hole spacing is shown on the
Whether the data spacing and attached map and varies due to
distribution is sufficient to irregular access along
establish the degree of geological the lake edge.
and grade continuity appropriate for
the Mineral Resource and Ore Reserve Lake Ballard and Lake Marmion
estimation procedure(s) Data spacing is very wide and can
and classifications applied. only be considered to be
Whether sample compositing has been reconnaissance level work.
applied.
Orientation of data in relation to Whether the orientation of sampling Trenches and pits were vertical.
geological structure achieves unbiased sampling of Geological structure is considered to
possible structures and be flat lying.
the extent to which this is known,
considering the deposit type.
If the relationship between the
drilling orientation and the
orientation of key mineralised
structures is considered to have
introduced a sampling bias, this
should be assessed and reported
if material.
Sample security The measures taken to ensure sample All brine samples were marked and
security. kept onsite before transport to the
laboratory.
All remaining sample and duplicates
are stored in the Perth office in
climate-controlled conditions.
Chain of Custody system is
maintained.
Audits or reviews The results of any audits or reviews Data review is summarised in Quality
of sampling techniques and data. of assay data, laboratory tests and
Verification of sampling
and assaying. No audits were
undertaken.
====================================== ====================================== ======================================
Section 2: Reporting of Exploration Results
Criteria JORC Code explanation Commentary
Mineral tenement and land tenure Type, reference name/number, location Lake Wells
status and ownership including agreements or Tenements excavated were granted
material issues exploration licences 38/2710,
with third parties such as joint 38/2821, 38/2824, 38/3055,
ventures, partnerships, overriding 38/3056 and 38/3057 in Western
royalties, native title Australia.
interests, historical sites,
wilderness or national park and Lake Ballard and Lake Marmion
environmental settings. Tenements sampled 29/912, 29/913,
The security of the tenure held at 29/948 and 29/958 (Lake Ballard) and
the time of reporting along with any 29/1000 and 29/1001(Lake
known impediments Marmion) in Western Australia.
to obtaining a licence to operate in Exploration Licenses are held by
the area. Piper Preston Pty Ltd (fully owned
subsidiary of ASLP).
Exploration done by other parties Acknowledgment and appraisal of No other known exploration has
exploration by other parties. occurred on the Exploration Licenses.
Geology Deposit type, geological setting and Salt Lake Brine Deposit
style of mineralisation.
Drill hole Information A summary of all information Lake Wells
material to the understanding of Details are presented in the report.
the exploration results including
a tabulation of the following Lake Ballard and Lake Marmion
information for all Material Hand dug pits as described above and
drill holes: presented in the announcement.
o easting and northing of the
drill hole collar
o elevation or RL (Reduced Level
- elevation above sea level in
metres) of the drill hole
collar
o dip and azimuth of the hole
o down hole length and
interception depth
o hole length.
If the exclusion of this
information is justified on the
basis that the information is not
Material and this exclusion does
not detract from the
understanding of the report, the
Competent
Person should clearly explain why
this is the case.
Data aggregation methods In reporting Exploration Results, Within the salt lake extent no low
weighting averaging techniques, grade cut-off or high grade capping
maximum and/or minimum grade has been implemented.
truncations (eg cutting of high
grades) and cut-off grades are
usually Material and should
be stated.
Where aggregate intercepts
incorporate short lengths of high
grade results and longer lengths
of low grade results, the procedure
used for such aggregation should be
stated and some typical
examples of such aggregations should
be shown in detail.
The assumptions used for any
reporting of metal equivalent values
should be clearly stated.
Relationship between mineralisation These relationships are particularly Lake Wells
widths and intercept lengths important in the reporting of The unit is flat lying and trenches
Exploration Results. and pits are vertical hence the
If the geometry of the mineralisation intersected downhole depth
with respect to the drill hole angle is equivalent to the inferred
is known, its nature thickness of mineralisation.
should be reported.
If it is not known and only the down Lake Ballard and Lake Marmion
hole lengths are reported, there Not applicable
should be a clear statement
to this effect (eg 'down hole length,
true width not known').
Diagrams Appropriate maps and sections (with Addressed in the announcement.
scales) and tabulations of intercepts
should be included
for any significant discovery being
reported These should include, but
not be limited to a
plan view of drill hole collar
locations and appropriate sectional
views.
Balanced reporting Where comprehensive reporting of all All results have been included.
Exploration Results is not
practicable, representative
reporting of both low and high grades
and/or widths should be practiced to
avoid misleading
reporting of Exploration Results.
Other substantive exploration data Other exploration data, if meaningful Gravity survey was completed by Atlas
and material, should be reported Geophysics using a Hi Target V100
including (but not GNSS receiver for
limited to): geological observations; accurate positioning and CG-5 Digital
geophysical survey results; Automated Gravity Meter.
geochemical survey results; Gravity data was gained using the
bulk samples - size and method of contractors rapid acquisition, high
treatment; metallurgical test accuracy UTV borne techniques.
results; bulk density, groundwater, The company's own in-house reduction
geotechnical and rock and QA software was used to reduce
characteristics; potential the data on a daily
deleterious or contaminating basis to ensure quality and
substances. integrity. All gravity meters were
calibrated pre and post survey
and meter drift rates were monitored
daily. 3 to 5 % of the stations are
repeated for quality
control.
Western Geophysics were engaged to
manage and process the gravity
survey. Processing the survey
involved reducing the gravity data
and integrating to the regional data
to a residual anomaly
which shows there is a
semi-continuous distinct residual
gravity low of negative 2 to 2.5
milligals present along eastern to
central areas to the entire tenement
area.
Further work The nature and scale of planned Lake Wells
further work (eg tests for lateral Further trench testing and numerical
extensions or depth extensions hydrogeological modelling to be
or large-scale step-out drilling). completed that incorporates
Diagrams clearly highlighting the the results of the test pumping. The
areas of possible extensions, model will be the basis of the annual
including the main geological brine abstraction
interpretations and future drilling rate and mine life.
areas, provided this information is
not commercially sensitive. Lake Ballard and Lake Marmion
Further sampling and drilling to
assess the occurrence of brine at
depth.
Closer spaced, more evenly distribute
drilling, particularly to define the
thickness of the
LPS unit.
Hydraulic testing be undertaken, for
instance pumping tests from bores
and/or trenches to
determine, aquifer properties,
expected production rates and
infrastructure design (trench
and bore size and spacing).
Lake recharge dynamics be studied to
determine the lake water balance and
subsequent production
water balance. For instance
simultaneous data recording of
rainfall and subsurface brine level
fluctuations to understand the
relationship between rainfall and
lake recharge, and hence
the brine recharge dynamics of the
Lake.
Study of the potential solid phase
soluble or exchangeable potassium
resource.
====================================== ====================================== ======================================
For further information please visit www.saltlakepotash.com.au or contact:
Sam Cordin Salt Lake Potash Limited Tel: +61 8 9322 6322 Colin Aaronson/Richard Tonthat/Daniel Bush Grant Thornton UK LLP (Nominated Adviser) Tel: +44 (0)207 383 5100 Nick Tulloch/Beth McKiernan Cenkos Securities plc (Broker) Tel: +44 (0) 131 220 6939
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
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