Sydney, Australia (PRWEB) July 22, 2014
Australia Salt lake Potash Pty Ltd, a private potash exploration and development company (the “Company”) announced today the completion of a maiden exploration drilling and analysis program at its priority Lake Wells Project (“Project”) and compilation of results from independent analysis of the brine samples. The exploration license area of 522 sq.km. provides an approximate 100% coverage of the Lake Wells’ playa basin.
Jason Baverstock, Executive Director said, “We are very pleased to report highly encouraging results from our June auger drilling program which has led to the definition of a number of large brine pools within the sedimentary fill of the lake; these pools attain up to 6.8m in vertical thickness and contain brines with potassium concentration ranging between 4,300 mg/L and 7,750 mg/L. Furthermore the elemental ratios of these brines confirm their suitability for Sulphate of Potash (SOP) recovery.”
“Field information and brine analysis results have now enabled us to define the hydro-chemistry of the lake and clearly identify several target pay zones for advanced drilling and hydrological studies, and thus preparation of a maiden SOP resource estimate for this Project in the coming months,” Jason said.
About the Company:
Australia Salt Lake Potash Pty Ltd controls exploration leases totaling 967 sq.km in permit areas on three major salt lakes, namely Lake Wells and Lake Minigwal in Western Australia and Lake Lewis in Northern Territory. The Company also recently applied for two exploration licenses covering an area of 680 sq.km. over Lake Ballard in Western Australia. Australia Salt Lake Potash is targeting an expedited development and production of high value Sulfate of Potash (SOP) fertiliser from salt lake brines using solar evaporation methodology.
This press release includes "forward-looking statements". Statements which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future including, but not limited to, the commence of drilling, as well as the existence of any brine resource and ability to commercialise the Projects. Actual results could differ from those projected in any forward-looking statements. Although the Company believes that the beliefs, plans, expectations and intentions contained in press release are reasonable, it assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements.
For Additional Information, Contact:
Tel: +61 (02) 9484 4074; 0467 236 259