The total stored exploration target for the Goldfields Salt Lakes project is 290 million tonnes to 458 million tonnes of contained sulphate of potash with an average grade of 4.4 - 7.1 kilograms per metre cubed, including Lake Wells' Mineral Resource of 80-85 million tonnes.
On a drainable basis, the total exploration target ranges from 26 to 153 million tonnes of sulphate of potash. The total playa area of the lakes is about 3,312 square kilometres.
The company's long term plan is to develop an integrated sulphate of potash operation, producing from a number or all of the lakes within the GSLP, after confirming the technical and commercial elements of the project through construction and operation of a demonstration plant producing up to 50,000 tonnes per annum of sulphate of potash.
Salt Lake Potash said it will progressively explore the lakes in the portfolio with a view to estimating resources for each Lake, in parallel with the development of the demonstration plant. Exploration of the lakes will be prioritised based on likely transport costs, scale, permitting pathway and brine chemistry, the company said.
"These initial exploration targets allow us for the first time to quantify the real scale of the long term opportunity at the Goldfields Salt Lakes Project. We have already made very substantial progress in revealing the outstanding potential at Lake Wells and these exploration targets illustrate how the broader project has a multiple of that potential. This places the GSLP asset at the leading edge of world scale SOP development opportunities," said Salt Lake Potash Chief Executive Officer Matt Syme.
Salt Lake Potash shares were 1.7% higher at