Executive Chairman Interview
The discussion centered around the "basal sands" and the significance for this intersection to hold the brine that is used to produce "sulphate of potash", a high end fertilizer.
GPH has good infrastructure - 300km to a rail head at Leonora, uniquely positioned in the Australian brine potash sector for its low targeted CAPEX of sub-$100m.
Goldphyre will be finalising a resource drill program by mid-May, and on track to release a maiden JORC compliant resource by June 2016.
The company is expecting the resource estimate to be within the guideline identified in the exploration target released in March, giving long mine life scenarios on 75Kt to 100Kt per annum production.
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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.
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