Sydney, July 28, 2016 AEST (ABN Newswire) - Goldphyre Resources Ltd (ASX:GPH) is pleased to announce the test production bore installation program at its rapidly emerging Lake Wells Potash Project is due to commence early August 2016.

Highlights:

- Goldphyre set to take the next pivotal step in its strategy to become a significant WA potash producer with the installation of four test-production bores at its Lake Wells Potash Project

- These simple, low-cost bores will measure the rates at which the brine containing the potash can be produced from the aquifers; Results will underpin further economic assessments of the Project

- The bores will be installed in the core high grade zone of the Resourcei (10.5Mt of SOP at a grade of 9.03 kg/m3) less than 5km from the proposed trial evaporation pond site

- The tests are aimed at confirming Lake Wells' position as a leading WA potash project, building on its superior Resource and close proximity to existing infrastructure

- Lake Wells has the distinct advantage of not requiring the more expensive trenching brine production method or the need to build from scratch costly logistics infrastructure

- Lake Wells has a superior Resource - using specific yield1 (drainable porosity), the Inferred Mineral Resource Estimate is:

18.4 million tonnes of SOP at 8.05 kg/m3 including

High-grade zone: 10.5 Mt of SOP at 9.03 kg/m3

- Geo-technical studies have started on the clays surrounding the lake surface to assess proposed site for trial evaporation ponds

- Laboratory evaporation trials testing salt crystallisation phases underway with second stage plan (1,000L bulk sample) being developed using local and North American-based process consultants

"Lake Wells is a leading WA potash project because it has a core of high-grade palaeochannel brine mineralisation, amenable to low-cost, proven brine extraction using conventional bores, and is close to infrastructure. We enjoy a strong supportive shareholder base, and a clear strategy to bring the Project to fruition as quickly as possible." - Goldphyre Executive Chairman Matt Shackleton

Aquifer Testing

The first phase of the testing will involve the installation of four (4) test-production bores at two sites, A and B as shown in Figure 2 (see link below).

The installation of the simple, low-cost test production bores will be followed by test pumping, with the aim of confirming Lake Wells' status as a leading WA potash project, building on its superior high-grade Resource and close proximity to infrastructure.

The four test-production bores will be installed at two sites, with a shallow bore into the upper aquifer and a deeper bore into the basal aquifer at each site. The Company is reviewing consultant proposals to conduct the test-pumping program, scheduled to commence upon the completion of the bore installation program, with results expected in the December quarter.

At the same time, geotechnical test-work on potential trial evaporation pond sites, and laboratory evaporation and crystallisation trials, have commenced.

To view tables and figures, please visit:
http://abnnewswire.net/lnk/8468IEPM


About Australian Potash Ltd

Goldphyre Resources Ltd ASX:GPHAustralian Potash Limited is a minerals exploration company focused on advancing its key project, the Lake Wells Potash Project.

 


Contact

Matt Shackleton
Executive Chairman
e: m.shackleton@goldphyre.com.au
m: +61-438-319-841

Brenton Siggs
Technical Director
e: b.siggs@goldphyre.com.au
m: +61-427-075-225

Media:
Paul Armstrong/Nicholas Read
Read Corporate
t: +61-8-9388-1474



Related Companies

Australian Potash Ltd

ABN Newswire This Page Viewed:  (Last 7 Days: 18) (Last 30 Days: 83) (Since Published: 1641) 
ANALYTICS: LOGIN HERE

Australian Potash Ltd NEWS: RECENT VISITS (2038)

Research Report

Social Media