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Elemental Minerals Commences Phase 3A drilling at Kola to test extension of the high-grade sylvinite seams including the Hangingwall Seam.
PERTH, AUSTRALIA, Feb. 4, 2013 /CNW/ - Elemental Minerals Ltd. (ASX, TSX: ELM) ("Eleme...
About this update from Element Lifestyle Retirement Inc.
[{"type":"text","content":"\n\n\n\n\n\n\n\n\nPERTH, AUSTRALIA, Feb. 4, 2013 /CNW/ - Elemental Minerals Ltd. (ASX, TSX: ELM) (\"Elemental\" or \"the Company\") is pleased to announce\n the commencement of Phase 3A drilling at the Kola deposit on the\n Company's Sintoukola Potash Project in the Republic of Congo.\n\n\nHIGHLIGHTS\n\n\nPhase 3A will comprise two boreholes (Fig 1) to test the extension of\n sylvinite seams in the western part of the Kola deposit. There is good\n potential to intersect further high-grade sylvinite of the Upper and\n Lower Seams as well as additional extremely high-grade mineralisation\n of the Hangingwall Seam.\n\nEK_46 is located 1 kilometre southwest of EK_43 and drilling is\n underway. The drill site for EK_47 is ready, positioned 1.5 kilometres\n northwest of EK_45. As previously reported EK_43 and EK_45 intersected\n 3.11 metres grading 37.80% K2O (59.86% KCl) and 3.75 metres grading 34.20% K2O (54.15% KCl) respectively in the Hangingwall Seam1\n\nResults from the new boreholes will be incorporated into an updated\n Mineral Resource estimate for Kola which will be used to support the\n Bankable Feasibility Study due to commence Q2 2013.\n\n\nTo date Elemental Minerals has completed 45 boreholes at Kola for the\n purpose of target definition and resource estimation. EK_43 and EK_45\n were completed in June and July 2012 and are the most recent holes to\n intersect the Hangingwall Seam. No further drilling has taken place at\n Kola since, as the Company's focus has been the completion of the Kola\n Pre-Feasibility Study (released 17 September 2012).\n\n\nThe limited amount of drilling of the Hangingwall Seam to date\n constrained the size and classification of resources of this seam (47\n Mt grading 34.75% K2O (55.01% KCl) and precluded its inclusion in the Pre-Feasibility Study.\n An updated Mineral Resource estimate will be incorporated into the Kola\n Bankable Feasibility Study which will commence Q2, 2013. Preliminary\n economic analysis suggests that even if a relatively small Hangingwall\n Seam Mineral Reserve is defined it could have a significant positive\n impact upon the already robust economics of the project.\n\n\nThe relatively high stratigraphic position of the Hangingwall Seam at\n Kola (Figure 2) means it is best preserved on the flanks of the Kola\n rise (a geological high that the Kola deposit sits on).
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