Salt Lake Potash (LON:SO4 ) said chemical analysis results of a bulk sample from its Kainite harvest ponds at the Lake Way Project have shown above average Potassium grades.
The mineral exploration firm previously harvested a 277kg bulk sample of harvest salts in March to confirm plant feed grades and produce mass potash samples for customers.
The 277kg sample has demonstrated the presence of potassium salts kainite and schoenite with a potassium concentration of 7.5%, above the modelled assumed plant feed of 6.8%.
Sulphate concentration of 20.9% also matched expectations and results from other compounds, namely sodium and magnesium, aligned with the anticipated plant feed grade.
The results have confirmed that the chemical composition of the bulk sample aligns with the group’s modelling and that the grades are within the expected ranges, the group said.
Shares in Salt Lake Potash were trading 6.36% higher at 29.25p on Thursday morning.
“These positive results confirm our Stage 1 ponds are operating within design parameters and are producing high grade potassium feed salts which can be converted to premium quality SOP,” said Tony Swiericzuk, CEO of Salt Lake Potash.
“Following the strong results from pumping our first brine abstraction bore reported last week, today's results further highlights the extent to which the Lake Way Project and our on-lake production process has been de-risked over the last twelve months,” he added.
The remainder of the bulk sample will now be shipped to Canada for confirmatory test work while samples of premium high-grade potash will be generated to provide to offtakers.
Currently, Lake Way remains on schedule with commissioning expected to begin in December 2020 and first production in the first quarter of 2021.
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