Sydney, May 23, 2018 AEST (ABN Newswire) - Australian Potash (ASX:APC) is developing the Lake Wells SOP Potash Project in Western Australia. The company recently raised $3m as they advance the project towards a Definitive Feasibility Study later this year. In addition, drilling is underway at their Yamarna gold project in Western Australia, which is to the north of Gold Road (ASX:GOR) and Gold Fields 5.8Moz Au Yamarna gold project.
We interviewed Executive Chairman, Matt Shackleton, to discuss the funds raised will be used for as well as provide an update on current work activities.
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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.
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