Last checked at 10 Jul 2018 07:00
Emmerson Plc / Ticker: EML / Index: LSE / Sector: Mining
10 July 2018
Emmerson Plc ("Emmerson" or the "Company")
Completion of Seismic Survey at Khemisset Potash Project
Emmerson Plc, the Moroccan focused potash development company, is pleased to announce it has completed the fieldwork component of a 60-line kilometre seismic survey over 10 lines on the Company's 100% owned Khemisset Potash Project in Northern Morocco ("Khemisset" or "the Project"). To view the press release with the illustrative maps and diagrams please use the following link: http://www.rns-pdf.londonstockexchange.com/rns/0814U_1-2018-7-9.pdf
Highlights
· Fieldwork component of seismic data completed within six weeks of re-admission to LSE covering the key areas of the Khemisset ore body and margins of the potash bearing basin
· Processing and interpretation of results expected to be received by the Company in Q3 2018
· Objective of seismic work is to delineate the basin and provide detailed information on geological structures and faulting
· Provides valuable information for the Scoping Study which is targeted for Q1 2019 and upcoming drilling programme
Hayden Locke, CEO of Emmerson, commented:
"The recently completed seismic survey is the first major project related milestone since the completion of the transaction to acquire the Khemisset Project last month. The information from the survey will enhance our understanding of the basin, our geological model and will also form a key component of future mine design and planning.
"Golder Associates has already been appointed to deliver a Scoping Study by the end of Q1 2019, in which we hope to prove the potential for a low capital cost potash mine development at Khemisset thanks to the shallow nature of the deposit coupled with the excellent location and infrastructure.
"We anticipate being in a position to appoint a drill contractor in the coming weeks with a view to upgrading portions of the 311.4Mt JORC Resource to at least the Indicated category, but also further exploring the significant potential of the broader potash bearing basin, which extends over a strike of more than 60km. The data we have acquired from the seismic survey is highly valuable in planning this drilling campaign.
"We look forward to releasing the results of the interpretation of the seismic survey during this quarter, as well as further Scoping Study related news flow as the studies progress."
**ENDS**
For further information, please visit www.emmersonplc.com, follow us on Twitter (@emmerson_plc), or contact:
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Notes to Editors
Emmerson's primary focus is on developing the Khemisset Potash Project located in Northern Morocco. The project has a large JORC Resource Estimate (2012) of 311.4Mt @ 10.2% K2O and significant exploration potential with an accelerated development pathway targeting a low capex, high margin mine. Khemisset is perfectly located to capitalise on the expected growth of African fertiliser consumption whilst also being located on the doorstep of European markets. This unique positioning means the project will receive a premium netback price compared to existing potash producers. The need to feed the world's rapidly increasing population is driving demand for potash and Emmerson is well placed to benefit from the opportunities this presents.
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014.