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North Dakota: land acquisition and drilling update

24 Dec 2010 07:00

RNS Number : 5661Y
Sirius Minerals Plc
24 December 2010
 

 

For immediate release: 0700 24 December 2010

 

Sirius Minerals Plc

("Sirius" or the "Company")

 

North Dakota: land acquisition and drilling update

 

The Directors of Sirius Minerals Plc (AIM: SXX, OTC: SRUXY), the potash mining group, are pleased to announce that its wholly owned subsidiary, Dakota Salts LLC ("Dakota Salts"), has acquired a further 1445 net mineral acres of lease areas adjacent to its existing properties in North Dakota. The Company now controls some 10,090 net mineral acres of lease areas overlying the Williston Basin, having an overall land position of approximately 21,492 gross mineral acres within North Dakota.

 

The new acreage has been acquired from multiple unconnected owners for nominal initial cash payments per mineral acre with royalty payments due on mining production in line with industry norms.

Chris Catlow, Chairman of Sirius, commented:

"The land acquisition programme in North Dakota continues to progress well. I am likewise pleased to report that the coring phase at our first drill location in Burke County has now completed. The samples are currently being prepared by Sirius's drilling partner, Schlumberger, in-situ for transportation to the North Rim core facility in Saskatoon where they will be logged in detail, photographed and selectively prepared for geochemical analysis. Final analysis will then be completedby the Saskatchewan Research Council. We anticipate this being completed by mid February at which point we will determine the next drilling location."

 

In Australia, Sirius Minerals continues to progress its projects in Queensland and Western Australia.

 

- ENDS -

 

For further information, please contact:

 

Sirius Minerals Plc

Richard Poulden (Deputy Chairman)

Tel: +971 504 524 994

Beaumont Cornish Limited (Nomad)

Roland Cornish

Tel: +44 (0) 207 628 3396

XCAP Securities Plc (Joint Broker)

John Grant, Karen Kelly, David Newton

Tel: +44 (0) 20 7101 7070

Daniel Stewart & Company Plc (Joint Broker)

Christopher Theis / Emma Earl

Tel: + 44 (0) 20 7776 6550

Gth Media Relations

Tel: + 44 (0) 20 3103 3903/ 3902

Toby Hall/Christian Pickel

 

Website: www.siriusminerals.com

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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