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Salt Lake Potash

Cenkos: Salt Lake Potash Ltd - Lake Way Resource

Salt Lake Potash released the initial ‘whole-of-lake' resource for the Company's Lake Way project. The total Mineral Resource Estimate at Lake Way has increased to 73 million tonnes of SOP calculated using Total Porosity and 8.2Mt of SOP calculated using Drainable Porosity. On a drainable basis, the overall resource estimate for Lake Way is now 8.2Mt of contained SOP at a grade of 15.1kg/m3, with around 3.2Mt, or 40% of this, hosted within the Measured and Indicated categories. Based on our estimated initial production of 200ktpa, the Measured and Indicated drainable resource would sustain a life of 16 years, with a further 25 years' life in the Inferred category to be further proved up. Management are subsequently investigating larger production scenarios for the project (beyond the 50ktpa demo plant) and expect to release an initial technical study on the results by the end of Q2/19. We feel that Lake Way has the potential to support a larger scale SOP operation and the next step to 200ktpa may not be the last. Construction activities have progressed with the initial holding ponds now taking shape, which should enable Salt Lake Potash to commence de-watering the Williamson Open Pit towards the end of Q2/19. The Company is focused on rapidly progressing the development of the Lake Way Project to become the first SOP production operation in Australia. Lake Way has the highest-grade SOP brine resource in Australia and the best infrastructure solution of potential Australian brine SOP producers. We feel that given the Resource and management's incentives, Salt Lake will probably progress direct to an economic 200ktpa plant rather than the 50ktpa demo plant, but this has not been confirmed.

  • 18 Mar 19
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