Salt Lake Potash Limited Commencement of Commercial Scale SOP Evaporation (1554D)
24 June 2019 - 4:01PM
UK Regulatory
TIDMSO4
RNS Number : 1554D
Salt Lake Potash Limited
24 June 2019
24 June 2019 AIM/ASX Code: SO4
SALT LAKE POTASH LIMITED
Commencement of Commercial Scale SOP Evaporation Process at Lake Way
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Highlights
-- Salt Lake Potash has completed construction of a commercial
scale SOP brine evaporation pond at Lake Way
-- Pumping of the high grade SOP brine from Williamson Pit has now commenced
-- De-watering is expected to be finished during Q3 2019
ensuring the evaporation process will be underway during the summer
months and provide the initial feed salts for the process plant
-- Salt Lake Potash has commenced a Bankable Feasibility Study
(BFS) for a commercial scale 200ktpa Sulphate of Potash development
at Lake Way, targeting completion in Q3 2019
Salt Lake Potash Limited (Salt Lake Potash or the Company) is
pleased to announce it has commenced pumping the Williamson Pit
brine into a commercial scale Sulphate of Potash (SOP) brine
evaporation pond (Williamson Ponds) at its Lake Way Project.
Construction of the Williamson Ponds has recently been
completed, with pond dimensions of 2.5km by 0.5km. These ponds have
been designed to receive the 1.2GL of high-grade SOP brine from the
Williamson Pit mine, with de-watering of the pit now underway. The
de-watering is scheduled to complete in Q3 2019.
Given the super-saturated nature of the Williamson Pit brines,
precipitation of salts started immediately upon pumping into the
evaporation pond. The Company will be able to harvest first salts
from the Williamson Ponds which are expected to be utilised as
initial feed stock for processing.
Salt Lake Potash's Chief Executive Officer, Mr Tony Swiericzuk,
said:
"It is very pleasing to see the high-grade Williamson Pit brines
being pumped into the commercial scale SOP evaporation ponds. It's
a real milestone in the development of our Lake Way Project and a
first in the development of an exciting new industry for Western
Australia.
Importantly, construction of the Williamson Ponds has provided
the team with invaluable data on both methodology and costs, which
will feed into the BFS that is now well advanced and due to be
completed during the September quarter."
Link to Interview with Tony Swiericzuk as the de-watering of
Williamson Pit commences
Having recently completed the Scoping Study for a commercial
scale 200ktpa development at Lake Way, Salt Lake Potash has
commenced the Bankable Feasibility Study targeting completion in Q3
2019.
For further information please visit www.so4.com.au or
contact:
Tony Swiericzuk/Clint McGhie Salt Lake Potash Limited Tel: +61 8 6559 5800
Jo Battershill Salt Lake Potash Limited Tel: +44 (0) 20 7478 3900
Colin Aaronson/Richard Tonthat/Ben Roberts Grant Thornton UK LLP (Nominated Adviser) Tel: +44 (0) 20 7383 5100
Derrick Lee/Beth McKiernan Cenkos Securities plc (Joint Broker) Tel: +44 (0) 131 220 6939
Rupert Fane / Ingo Hofmaier / Ernest Bell Hannam & Partners (Joint Broker) Tel: +44 (0) 20 7907 8500
Forward Looking Statements
This announcement may include forward-looking statements. These
forward-looking statements are based on Salt Lake Potash Limited's
expectations and beliefs concerning future events. Forward looking
statements are necessarily subject to risks, uncertainties and
other factors, many of which are outside the control of Salt Lake
Potash Limited, which could cause actual results to differ
materially from such statements. Salt Lake Potash Limited makes no
undertaking to subsequently update or revise the forward-looking
statements made in this announcement, to reflect the circumstances
or events after the date of that announcement.
Competent Persons Statement
The information in this Announcement that relates to Mineral
Resources is extracted from the report entitled 'Significant
High-Grade SOP Resource Delineated at Lake Way' dated 18 March
2019. This announcement is available to view on www.so4.com.au. The
information in the original Announcement that related to Mineral
Resources was based on, and fairly represents, information compiled
by Mr Ben Jeuken, who is a member Australasian Institute of Mining
and Metallurgy (AusIMM) and a member of the International
Association of Hydrogeologists. Mr Jeuken is employed by
Groundwater Science Pty Ltd, an independent consulting company. Mr
Jeuken has sufficient experience, which is relevant to the style of
mineralisation and type of deposit under consideration and to the
activity, which he is undertaking to qualify as a Competent Person
as defined in the 2012 Edition of the 'Australasian Code for
Reporting of Exploration Results, Mineral Resources and Ore
Reserves'. Salt Lake Potash Limited confirms that it is not aware
of any new information or data that materially affects the
information included in the original market announcement and, in
the case of estimates of Mineral Resources, that all material
assumptions and technical parameters underpinning the estimates in
the relevant market announcement continue to apply and have not
materially changed. Salt Lake Potash Limited confirms that the form
and context in which the Competent Person's findings are presented
have not been materially modified from the original market
announcement.
Production Target
The Lake Way Project Production Target stated in this
announcement is based on the Company's Scoping Study as announced
on 13 June 2019. The information in relation to the Production
Target that the Company is required to include in a public report
in accordance with ASX Listing Rule 5.16 and 5.17 was included in
the Company's Announcement released on 13 June 2019. The Company
confirms that the material assumptions underpinning the Production
Target referenced in the 13 June 2019 release continue to apply and
have not materially changed.
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
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