Australian Potash Installs Two New Test Bores at Lake Wells

THE DRILL SERGEANT: Australian Potash (ASX: APC) has installed two additional test-production bores (TPBs) at the company’s Lake Wells potash project, north-east of Kalgoorlie in Western Australia.

Australian Potash explained the installation of the latest TPBs follows the installation of three test-production bores in October last year across the high-grade zone hosting the large indicated JORC-compliant resource of 12.7 million tonnes of contained sulphate of potash (SOP).

The company anticipates development of a further two TPBs before the end of the program by October 2017, which will represent completion of 20 per cent of the Stage 1 development borefield at the Lake Wells potash project.

On development, Lake Wells will comprise a 150,000 tonne per annum (tpa) SOP processing operation supported by a 35 bore brine abstraction network.

In addition to the two new TPBs, Australian Potash has also completed five monitoring bores to further define the geometry and stratigraphy of the palaeovalley sequence along which the production borefield will be constructed.

TPBs installed under the current program are undergoing test-pumping to determine accurate flow rates, with long-term test pumping of up to 12 weeks/24 hours per day to commence shortly.

Data acquired through long-term test-pumping programs will assist with the calculation of a JORC compliant reserve estimate.

“The installation of these new bores is another key step in unlocking the value of our flagship Lake Wells Potash project,” Australian Potash executive chairman Matt Shackleton said in the company’s announcement to the Australian Securities Exchange.

““Initial results from the new bores installed at sites C and D are very promising, and with several active site programs underway, we look forward to updating our shareholders on further operational progress from our ongoing feasibility study in the near-term.”

Website: www.australianpotash.com.au