Wildhorse Energy releases Lake Wells maiden Resource

THE DRILL SERGEANT: Wildhorse Energy (ASX: WHE) has reported its maiden JORC Mineral Resource estimate from the company’s Lake Wells project, in Western Australia.

The total Mineral Resource Estimate (MRE) at Lake Wells has been estimated at 29 million tonnes of sulphate of potash (SOP), with 90 per cent classified as Measured and Indicated.

The company claimed the Mineral Resource Estimate has confirms Lake Wells as one of the largest undeveloped salt lake brine projects in the world.

Wildhorse indicated it would be commencing a Scoping Study shortly to examine the economic viability of the project.

The Mineral Resource estimate is based on an average depth of only 16 metres below surface with mineralisation open at depth across most of the Lake.

The company has an aircore drilling program currently underway to test the extent and geology of the brine pool at depth.

“The successful completion of our shallow drilling program and estimation of such a high quality mineral resource estimate, prepared in accordance with JORC, is a major step forward in demonstrating the potential of Lake Wells to support a substantial SOP brine project,” Wildhorse Energy executive director Jason Baverstock said in the company’s announcement to the Australian Securities Exchange.

“The potential for an even larger resource at depth, as well as the project’s inherent location and infrastructure advantages, indicate a really exciting future for the project and the company.”