('African Potash' or 'the Company')
First Exploration Drill Hole Completed Intercepts Potash Mineralisation
African Potash, the AIM listed company focused on sub-Saharan potash assets, is pleased to announce that it has successfully intersected potash mineralisation at its Lac Dinga Potash Project in the Republic of Congo ('Lac Dinga'). LDDH_001 drill hole is the first of two holes to be completed within the Project area.
· LDDH_001 intersected a 120m thick salt sequence from about 415m below surface
· The salt sequence includes multiple potash seams totalling about 40m, which represents 35% of the total interval
· The salt sequence in LDDH_001 confirms the laterally extensive salt and potash mineralisation in the Congolese costal basin
· About 250km2 of the licence area is interpreted to be underlain by salt-bearing strata and to occur at a depth of about 300 to 420m below surface
· The salt sequence is expected to thicken from the basin margin to a maximum of about 400m in thickness in the south west of the licence area
· First exploration drill hole one of two targets delineated from seismic data
· Drilling of the second hole (LDDH_002) has commenced
African Potash CEO, Edward Marlow, said, "The successful intersection of multiple potash seams and completion of the first drill hole is a very exciting milestone in the evaluation of the potash potential of the Lac Dinga area and fully supports the belief the Board has in the prospectivity of the region. This is the first exploration hole to be drilled within the Project area and is a major achievement and proof of our exploration concept. We look forward to further updating investors in the near future with news on the second drill hole, which is now underway."
African Potash based the siting of the first two drill holes on the interpretation of about 415 line kilometres of 2D oil industry seismic data that covered an area of approximately 470km2. The objective for the maiden drilling programme was to test the interpreted locations for the presence of the prospective salt sequence and for the development of high-grade sylvite (KCl) within the carnallite [KMgCl3x6(H2O)] bearing layers. The seismic data indicates laterally flat to moderately undulating and undisturbed salt horizon throughout the target area for LDDH_001.
LDDH_001 was drilled in the southern part of the Project area near the basin margin where a reduced but potentially potash enriched salt sequence was interpreted. LDDH_001 was stopped at a depth of 533m and intersected the salt sequence at about 415m below surface. Immediately above the salt is a 12m thick impermeable layer of anhydrite and clay. The base of the salt is at 525m below surface underlain by siltstone and dolomite.
The salt sequence measures about 120m and is composed of two salt cycles that are separated by a 7m thick layer of claystone. The salt sequences contains cumulatively 40m of potash beds which represent about 35% of the total interval. This is a significant concentration of potash mineralisation near the basin margin.
There are no analytical results available as yet as the core awaits processing and sampling. However, the down-hole natural gamma profile confirms observations from geological logging of multiple thick (up to 7m thick) potash beds. The mineralogy of the potash beds cannot be confirmed at present. It is possible that the beds consist of carnallitite and +/-sylvinite, however the quantification of each mineral can only be determined from chemical analysis.
The historic drill hole information confirms the development and presence of potash mineralisation in the form of sylvinite and carnallitite in the area immediately to the south (~5km) of the Project area. The records refer to layers of sylvinite and/or carnallitite developed in the same stratigraphic position as those exploited in the nearby Holle historic potash mine.
Drilling for LDDH_002 commenced on 7 September 2014. The drill hole is expected to intersect the salt sequence between 350 and 400m below surface. Further details on the results of this drilling will following in due course.
African Potash was established to invest in/acquire potash assets or projects in sub-Saharan Africa. The Directors believe the fundamentals of the global potash market, a key source of potassium fertiliser, represent a compelling opportunity to create shareholder value.
The Company is currently focused on the Lac Dinga Project in the Republic of Congo and has a highly experienced Board with a proven track record in identifying, operating and developing resource projects in Africa.
This information is provided by RNS
The company news service from the London Stock Exchange