Business
Elemental Minerals Review of Operations for the Quarter Ended 31 March 2014
PERTH, Australia , May 1, 2014 /CNW/ - Elemental Minerals Ltd. (ASX, TSX: ELM) (" E...
About this update from Element Lifestyle Retirement Inc.
[{"type":"text","content":"\n\n\n\n\n\nPERTH, Australia, May 1, 2014 /CNW/ - Elemental Minerals Ltd. (ASX, TSX: ELM) (\"Elemental\" or \"the Company\") is pleased to provide the following quarterly update on its\n activities, including at its Sintoukola Potash Project located in the\n Republic of Congo (\"RoC\").\n\n\nKey Points:\n\n\n\nAnnounced start of exploration program for Dougou\n\n\nAnnounced revised strategy for Elemental\n\n\nCash Holding of A$11.5 million\n\n\nDingyi offer lapsed\n\n\n\nStrategic Direction\n\n\nElemental management has developed a two pronged strategy which will\n continue to advance the Kola project and also an aggressive follow up\n exploration programme for the Dougou Prospect aimed at unlocking the\n largely untested potential of the greater Sintoukola permit.\n\n\nResource Expansion Programme\n\n\nThe Company believes that the Congo Basin is a potash province that\n could rival those found in Canada and Russia. Elemental has an\n exploration permit covering a total of 1 408km2. Less than 15% of this area has been tested to date; only one borehole\n (ED_01) has been drilled outside of the Kola Deposit. As previously\n reported ED_01 intersected a very high grade potash seam referred to as\n the HWS (Refer announcement on 4 September 2012).\n\n\nDuring the second half of 2013 Elemental announced the acquisition of a\n large historic database that includes geological and assay data for a\n number of historic boreholes drilled at Dougou. This data is being used\n in conjunction with Elemental's existing data to generate an\n Exploration Target for the HWS at Dougou which will be announced during\n May. Following which, the Company's planned exploration programme aims\n to a substantially increase Elemental's potash resource.\n\n\nCorporate\n\n\nOn 1 April 2014 Elemental announced that Michael Barton representing\n Pala Investments ('Pala') and Robert Franklyn have resigned from the\n Elemental Board. Michael resigned on the back of Harlequin, one of\n Elemental's founding shareholders, having reached agreement with Pala\n to acquire Pala's entire shareholding of 12.4% in Elemental. Harlequin\n now own 19.42% of Elemental.\n\n\nOn 24 April 2014, the Company announced the resignation of Mr John\n Stalker as Non-Executive Director of Elemental Minerals Limited with\n immediate effect. On the same day, Elemental appointed Leonard ...