Kore Potash identifies two new exploration targets

(Sharecast News) - Potash development company Kore Potash provided exploration targets for potential extensions of its Kola and Dougou Extension sylvinite deposits on Wednesday, which had been identified as part of the work program to improve its understanding of both the potential scale and the strategic opportunities presented by the multiple occurrences of potash in the Sintoukola Project area.The AIM-trade company said the exploration targets, which it cautioned were not mineral resources but a statement of exploration potential, were based on drilling and 2D seismic survey data and the firm's understanding of the controls on sylvinite mineralisation.It said it had identified the potential to increase its sylvinite deposits to a total of between 1.5 and 1.9 billion tonnes of sylvinite, with an average grade of between 34 and 37% KCl.The exploration targets included 'Kola South', the potential southward extension to the Kola Deposit, with 95 to 175 Mt at an average grade of between 34 and 42% KCl, as well as 'DX North', the potential northward extension to the Dougou Extension Deposit, with 320 to 600 Mt at an average grade of between 30 and 38% KCl.Kore Potash said the potential quantity and grade of an exploration target was "conceptual" in nature and was an approximation, adding that there had been insufficient exploration at Kola South and DX North to estimate mineral resources.It added that it was uncertain if further exploration would result in the estimation of mineral resources.The exploration targets were immediately adjacent to the company's existing sylvinite mineral resources, which totalled 1.08 Bt with an average grade of 35.5% KCl at the Kola and Dougou Extension deposits.Kore said the exploration targets were within 40 km of its proposed processing and export facility as well.It explained that the insoluble content of the sylvinite within the exploration targets was expected to be less than 0.5%, which was "extremely low" compared to potash industry averages."Quantifying the potential scale of the Sylvinite and Carnallite deposits of the Sintoukola project area is important," said Kore Potash chief executive officer Brad Sampson."It positions the Company to assess the strategic options available for these world-class, shallow and high-grade Potash deposits while continuing to allow flexibility on the best development pathway for this globally important Potash province."