TIDMEML

RNS Number : 1201X

Emmerson PLC

08 August 2018

Emmerson Plc / Ticker: EML / Index: LSE / Sector: Mining

08 August 2018

Emmerson Plc ("Emmerson" or the "Company")

Grant of Additional Research Permits at Khemisset Potash Project

Emmerson Plc, the Moroccan focused potash development company, is pleased to announce it has received confirmation from the Moroccan mining authorities that the Company has been granted 15 additional Research Permits adjoining its 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/1201X_1-2018-8-7.pdf

Highlights

   --     11 additional Research Permits granted adjoining Khemisset to the north-east 
   --     Four additional Research Permits granted adjoining Khemisset to the south-west 
   --     New Permits cover an area of 239km(2) . Total Khemisset Project area now 815km(2)

-- Desktop geological work indicates potash mineralisation is likely to continue for some distance to the north-east, including the area covered by a number of the new permits

-- A JORC-compliant Exploration Target is expected to be released in coming weeks demonstrating exploration potential for the area covered by the new permits in the north-east

-- Emmerson will commence planning an extensional drill programme to test this area, which will likely be carried out as part of the second drill programme at Khemisset

Hayden Locke, CEO of Emmerson, commented:

"The Khemisset Potash Project already has a large inferred mineral resource of 311.4 million tonnes @ 10.2% K(2) O, which covers only a small portion of the broader Khemisset Potash Basin. Our desktop review of historical geological data indicates that the potash mineralisation is likely to continue for a number of kilometres to the north east. We are currently completing an Exploration Target for this new zone, which will give some context as to the potential for additional resources for the Project.

"We believe our existing JORC-compliant Resource is sufficiently large to support a mine life of over 20 years. Additional mineralisation in this region will only strengthen the overall fundamentals of the Project and its multi-decade, multi-generational potential.

"In the meantime, the Scoping Study for Khemisset is well underway and we're confident of delivering it by the end of Q1 2019. We continue to be excited by Khemisset's potential to be a low capital cost, high margin, potash project delivering outstanding returns regardless of the potash price."

**ENDS**

 
 For further information, 
  please visit 
  www.emmersonplc.com, 
  follow us on 
  Twitter (@emmerson_plc), 
  or contact:                    Emmerson Plc                Tel: +44 (0) 207 236 
   Hayden Locke                                    1177 
   Edward McDermott 
   James Biddle       Beaumont Cornish Limited    Tel: +44 (0) 207 628 
    Roland Cornish     Financial Adviser           3396 
   Jeremy King        Optiva Securities Limited   Tel: +44 (0) 3137 1904 
                       Broker 
 
   Lottie Wadham      St Brides Partners Ltd      Tel: +44 (0) 20 7236 
    Susie Geliher      Financial PR/IR             1177

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% K(2) O 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.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

MSCUBABRWRAWRAR

(END) Dow Jones Newswires

August 08, 2018 02:00 ET (06:00 GMT)

Emmerson (LSE:EML)
Historical Stock Chart
From Jun 2024 to Jul 2024 Click Here for more Emmerson Charts.
Emmerson (LSE:EML)
Historical Stock Chart
From Jul 2023 to Jul 2024 Click Here for more Emmerson Charts.