(Sharecast News) - Kore Potash has received authorisation from the government of the Republic of the Congo to start the planned drilling programme for the definitive feasibility study on its DX Project, it announced on Wednesday.
The AIM-traded firm said the Ministry of Tourism and Environment had authorised the environmental management plan for the drilling on the project, meaning all government approvals required for the planned work programme were now in place.
A drilling programme consisting of the drilling and analysis of up to five new holes was planned to begin in October, which the board said would improve its confidence in the value of DX.
It said a number of local and international consultants had been engaged to support the environmental and technical aspects of the definitive feasibility study.
SQM - a global scale lithium and potassium producer and one of Kore's major shareholders - was providing technical support for key aspects of the study.
Kore said the first phase of the DX definitive feasibility study was planned for completion in May.
"We thank the government of the Republic of the Congo, who continue to actively support the development of the Company's projects in the Sintoukola basin, for reviewing this application and responding quickly, during what is a difficult period for all governments globally," said chief executive officer Brad Sampson.
"We have seen improvements in the DX project as each phase of work has progressed, and we are excited to be moving forward with the definitive feasibility study."
At 1245 BST, shares in Kore Potash were up 2.22% at 0.69p.
Kore Potash (KP2)30 May 2024 16:37