(MENAFN- ProactiveInvestors)
() is acquiring the Oxley Potash Project in Western Australia for $2.5 million from (ASX:SFX).
Oxley comprises 6 adjacent exploration licenses that cover an unconventional hard-rock style of potash mineralisation close to existing infrastructure.
The relatively thick 32 kilometres long outcropping and shallow dipping microsyenite means potential for scale and favourable mining costs.
The company is investigating processing routes for a vertically integrated operation producing high value potassium products.
A processing options review and bench scale test work will commence upon completion of the acquisition.
Oxley Potash Project
The Oxley Potash Project unconventional hard-rock style of potash mineralisation hosted in a series of ultrapotassic microsyenite lava flows which contain up to 90% potash feldspar.
It is located close to roads rail gas power and is located 125 kilometres from Geraldton Port.
The host rocks are exposed at surface and dip gently under cover in a series of open folds over a total strike length of approximately 32 kilometres.
Ultrapotassic rocks in themselves are rare and generally defined as containing >3% K2O.
Centrex intends to consider both pyrometallurgical and hydrometallurgical routes to leach potassium from the feldspar in order to produce higher value potassium products.
A market review showed that for products other than MOP the majority of production is indirect using industrial processes with MOP as a potassium feed source.
The review also showed much of the production of these second and third order products is not vertically integrated with potassium mining operations importing MOP for their production and thus heavily impacted by its cost.
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