Elemental Minerals Ltd.(TSX:ELM) announced the discovery of further mineral upgrades which lead to an updated mineral resource at its Kola project. The Company reported significant sylvinite resource increases at the project.
The total potash Mineral Resource (sylvinite and carnallitite) for all seams now stands at 1.32 Billion Tonnes grading 15.65% K2O (24.78% KCl) in the Measured and Indicated Mineral Resource categories and 948 Mt grading 16.20% K2O (25.64% KCl) of Inferred Mineral Resources.
This latest update of the Mineral Resource estimate reinforces the strategic significance of both the Sintoukola Project and the Congo Basin as a source of global potash supply.
Elemental, CEO, Iain Macpherson, commented:
Elemental Minerals now has well over half a billion tonnes of sylvinite in the Measured and Indicated Mineral Resource categories, contained within two shallow seams that can be mined by conventional, underground mining methods. This resource update is expected to support excellent economics in the upcoming PFS. Given the exceptional grade and potential for a very positive impact on already robust economics, Elemental is now planning further exploration of the Hangingwall seam, both at Kola and at the Dougou target. This revised Mineral Resource estimate underlines the strategic nature of Sintoukola and the potential for the Congo Basin to become a major potash producer.