FINANCE VIDEO: Interview with Matt Shackleton
The company is undertaking a seismic and drilling program at its Lake Wells project with drill rigs arriving on the site.
In addition to the program, the company aims to double the existing resource by tracing the resource for a further 20 kilometres. The drilling program and seismic will provide the basis for more accurate resource estimation and the company will be conducting evaporation trials to determine the output capability of the aquifier.
The Lake Wells project is a sulphate of potash product that is in high demand for agricultural purposes and replaces the chlorine based potash that damages soil quality due to the salt (chlorine) content.
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About Australian Potash Ltd
Australian Potash Limited (ASX:APC) is an ASX-listed Sulphate of Potash (SOP) developer. The Company holds a 100% interest in the Lake Wells Potash Project located approximately 500kms northeast of Kalgoorlie, in Western Australia's Eastern Goldfields.
Following the release of a Scoping Study in 2017, APC has been conducting a Definitive Feasibility Study (DFS) into the development of the Lake Wells Potash Project. The Company is aiming to release the findings of the DFS in H2 2019.
The Lake Wells Potash Project is a palaeochannel brine hosted sulphate of potash project. Palaeochannel bore fields supply large volumes of brine to many existing mining operations throughout Western Australia, and this technique is a well understood and proven method for extracting brine. APC will use this technically low-risk and commonly used brine extraction model to further develop a bore-field into the palaeochannel hosting the Lake Wells SOP resource.
A Scoping Study on the Lake Wells Potash Project was completed and released on 23 March 2017. The Scoping Study exceeded expectations and confirmed that the Project's economic and technical aspects are all exceptionally strong, and highlights APC's potential to become a significant long-life, low capital and high margin sulphate of potash (SOP) producer.
Australian Potash Ltd