Elemental Minerals Ltd. (TSX:ELM,ASX:ELM) reported exceptional results from two additional intersections of the new Hangingwall Seam of the Kola deposit.
As quoted in the press release:
- Highest grade potash intersections identified by Elemental to date:
- 37.80% K2O (59.86% KCl) in 3.11 metre sylvinite intersection in borehole EK_43 (from 222.58 metres); and
- 34.20% K2O (54.15% KCl) in 3.75 metre sylvinite intersection in borehole EK_45 (from 196.48 metres).
- Both intersections from the newly-identified Hangingwall Seam.
- The Hangingwall Seam averages over 3 metres thick, is shallow, and has an extremely high average grade, approximately 55% higher than Elemental’s previously highest grading sylvinite seam (the Upper Seam).
- Significant opportunity to enhance the economics of the Sintoukola Project.
- Further supports the strategic significance of both the Sintoukola Project and the Congo Basin as a source of global potash supply.
Elemental Minerals CEO Iain Macpherson said:
These results further highlight the exciting potential of not only the Hangingwall Seam, but also the potential of the Sintoukola Project as a whole, and indeed the Congo Basin, to play a meaningful role in the future of the potash industry. The exceptional grade compares extremely favourably to both our current peers, but most significantly, appears very strong when compared to the history of potash developments. The Hangingwall Seam itself appears to be laterally extensive, is flat to gently dipping and consistently 2-4 metres thick; making it a simple, conventional mining target that presents a substantial opportunity to enhance the already excellent project economics of Sintoukola.