Potash Minerals releases maiden JORC Resource at Hatch Point

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THE DRILL SERGEANT: Potash Minerals has completed its first JORC-compliant Mineral Resource estimate at the company’s 90 per cent-owned Hatch Point potash project in the United States.

The JORC Mineral Resource estimate has been defined on less than 20 per cent of the 405 square kilometre project area encompassing an area of the Hatch Point project located on State land and 22 recently-granted Federal Prospecting Permits.

The project currently boasts a JORC compliant Mineral Resource of 902.4 million tonnes at 20.3 per cent potassium chloride equivalent (12.8 per cent potassium oxide) average grade at a 15.9 per cent potassium chloride equivalent (10 per cent potassium oxide) composite cut-off grade.

The Mineral Resource includes a proportion of higher grade sylvinite comprising 303 million tonnes at 24.4 per cent potassium chloride (15.4 per cent potassium oxide) average grade, and within this 104 million tonnes at 30 per cent potassium chloride (18.9 per cent potassium oxide) average grade.

 

Hatch Point potash project – total Mineral Resource footprint. Source: Company announcement

 

Potash Minerals believes the potash JORC Resource is one of the largest and best quality to be discovered in the USA.

“Delivering the 902 Mt Maiden JORC Mineral Resource estimate is an exciting development for the company and all shareholders,” Potash Minerals chief executive officer Ben Binninger said in the company’s announcement to the Australian Securities Exchange.

“The fact that this has been defined on less than 20 per cent of the project area and only includes potash beds at least two metres thick and of greater than a 15.9 per cent potassium chloride-equivalent composite grade points to the significant potential of the Hatch Point potash project and quality of the resource.”

The Mineral Resource estimate was based on data from 45 drill holes, including four cored holes with potash assays, on the site or in the immediate project area.

Upon completion of a four hole federal drilling program, Potash Minerals said it expects the Resource to increase in size and status as additional land should be able to be included in the calculation.