(MENAFN- ProactiveInvestors)
() has entered into an agreement to acquire Australia Salt Lake Potash Pty Ltd which holds two large scale high grade sulphate of potash (SOP) brine projects in Western Australia.
The projects have the potential for producing substantial tonnages of SOP and have good access to transport infrastructure.
Wildhorse is acquiring Australian Sale Lake Potash (ASLP) for 15 million shares and 22.5 million performance shares that will vest on various conditions.
Projects
The Lake Wells Project covers 1126 square kilometres over the Lake Wells playa about 180 kilometres northeast of Laverton in the West Australian Goldfields.
This has been extensively drilled and sampled with a high average dissolved potassium (K) content of 5220 mg/L and brine chemistry which favours potential production of SOP by conventional methods.
The Lake Ballard covers 775 square kilometres and is located 350 kilometres southwest of the Lake Wells Project.
Historical sampling indicates highly elevated potassium contents in the brines and the project also has a large catchment area very good evaporation potential and access to excellent transport infrastructure and the Goldfields gas pipeline.
Substantial news flow is expected over the coming months with:
- Further drilling to assess the extent and continuity of brine laterally and at depth;
- Hydraulic testing and pumping tests from bores and/or trenches to determine aquifer properties expected production rates and infrastructure design (trench and bore size and spacing);
- Studies on the lake recharge dynamics to determine the lake water balance and subsequent production water balance as well as studies of the brine chemistry characteristics and evaporation trials; and
- Preparation of an initial resource estimate in accordance with the JORC Code.
Proactive Investors Australia is the market leader in producing news articles and research reports on ASX emerging companies with distribution in Australia UK North America and Hong Kong / China.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.