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Salt Lake Potash Limited   -  SO4   

December 2018 Quarterly Report

Released 07:00 31-Jan-2019

RNS Number : 6472O
Salt Lake Potash Limited
31 January 2019
 

31 January 2019

 

AIM/ASX Code: SO4

 

 

SALT LAKE POTASH LIMITED

December 2018 Quarterly Report

 

The Board of Salt Lake Potash Limited (the Company or Salt Lake Potash) is pleased to present its Quarterly Report for the period ending 31 December 2018.

The Company is focussed on rapidly progressing the development of its Lake Way Project, intended to be the first salt-lake brine Sulphate of Potash (SOP) production operation in Australia.

Highlights for the quarter and subsequently include:

Native Title Land Access and Exploration Agreement Executed for Lake Way

Ø Salt Lake Potash and Tarlka Matuwa Piarku (Aboriginal Corporation) RNTBC (TMPAC) have entered into a Native Title Land Access and Exploration Agreement for Lake Way

Ø TMPAC consent has been received for the on-lake construction of the pond system for the dewatering of the Williamson Pit at Lake Way (Williamson Ponds)

Key Approval Obtained and Construction of Williamson Ponds Imminent

Ø Mining Proposal and Project Management Plans for the Williamson Ponds approved by the Department of Mines, Industry Regulation and Safety (DMIRS)

Ø Initial fleet of construction equipment mobilised to Lake Way and site preparation works being undertaken in preparation for imminent construction of the Williamson Ponds

Ø Detailed design of Williamson Ponds completed

'Whole of Lake' Resource Program for Lake Way Advancing

Ø Work well advanced to enable the Company to report:

o   a Mineral Resource Estimate for the lake bed brine and the paleochannel aquifer for the 100% owned Salt Lake tenements

o   upgraded Mineral Resource Estimate for the Blackham tenements

Ø 'Whole of Lake' Mineral Resource Estimate will enable the Company to examine larger production scenarios

Field Trials at Lake Way Confirm Salt Production Process

Ø Comprehensive field evaporation trials at Lake Way are successfully producing substantial volumes of potassium Harvest Salts validating the modelled salt production process. 

Ø Field evaporation trials have produced over 2 tonnes of high grade Harvest Salts at Lake Way.

Ø Over 100,000l of brine from both high grade Lake Way playa brine and the super high-grade Williamson Pit brine have been extracted for the field trial and evaporated separately. Both brines have rapidly produced quality harvest salts amenable for conversion to Sulphate of Potash (SOP).

Ø Potassium Harvest Salts produced from the field trial will be processed at Saskatchewan Research Council (SRC), where a pilot plant will duplicate and refine the Lake Way process flow sheet, as well as producing further product samples for offtake partners.

Key Appointments Enhance Senior Project Development Team

Ø Highly regarded mining executive Tony Swiericzuk commenced as Managing Director and Chief Executive Officer of Salt Lake Potash effective 5 November 2018

Ø Three proven mining executives join Salt Lake Potash as leaders in the project development team:

o   Peter Cardillo as Project Director - Processing and NPI

o   Lloyd Edmunds as Project Director - Civil

o   Stephen Cathcart as Project Director - Technical

Ø These appointments, along with other recent additions to the project execution team, bring diversified technical/studies, approvals, construction, operations, process infrastructure experience to the Company as it moves into rapid project development phase

Completion of A$13.0 Million Placement to Fund Activities at Lake Way

Ø The Company completed placement of 31.0 million new shares to raise gross proceeds of $13.0 million

Ø The Placement included 950,000 shares subscribed for by CEO, Mr Tony Swiericzuk, and 750,000 shares subscribed for by the Company's Chairman, Mr Ian Middlemas

Ø The proceeds have enabled the Company to accelerate planned development activities at Lake Way, including mobilisation of construction equipment for the imminent construction of the Williamson Ponds and dewatering of the Williamson Pit

 

OVERVIEW

Salt Lake Potash is the owner of nine large salt lakes in the Northern Goldfields Region of Western Australia.  This outstanding portfolio of assets has a number of important, favourable characteristics:

·    Over 3,300km2 of playa surface, with in-situ clays suitable for low cost on-lake pond construction;

·    Very large paleochannel hosted brine aquifers, with chemistry amenable to evaporation of salts for SOP production, extractable from both low-cost trenches and deeper bores;

·    Excellent evaporation conditions;

·    Excellent access to transport, energy and other infrastructure in the Goldfields mining district;

·    Clear opportunity to reduce transport costs by developing lakes closer to infrastructure and by capturing economies of scale; and

·    Potential for multi-lake production offers optionality and significant scale potential, operational flexibility, cost advantages and risk mitigation from localised weather events.

Salt Lake Potash's immediate focus is on the rapid development of the Lake Way Project, intended to be the first salt-lake brine Sulphate of Potash (SOP) production operation in Australia. Lake Way's location and logistical advantages make it the ideal location for the Company's first SOP operation.

The Company's long term plan is to develop an integrated SOP operation, producing from a number (or all) of the lakes.  Salt Lake Potash will progressively explore each of the lakes with a view to estimating resources for each Lake, and determining the development potential. Exploration of the lakes will be prioritised based on likely transport costs, scale, permitting pathway and brine chemistry.

 

LAKE WAY PROJECT

Lake Way is located in the Northern Goldfields Region of Western Australia, less than 15km south of Wiluna. The surface area of the Lake is over 270km2.

Salt Lake Potash holds five Exploration Licences (one granted and four under application) covering most of Lake Way and select areas off-lake, including the paleochannel defined by previous exploration. The northern end of the Lake is largely covered by a number of Mining Leases, held by Blackham Resources Limited (Blackham), the owner of the Wiluna Gold Mine.

The Company's Memorandum of Understanding with Blackham (see ASX Announcement dated 12 March 2018) allows for an expedited path to development at Lake Way.

Lake Way has a number of compelling advantages which make it an ideal site for Salt Lake Potash's initial SOP operation, including:

Ø     Utilisation of Blackham's existing infrastructure (including camps, power and maintenance) to accelerate development.

Ø     The site has excellent freight solutions, being adjacent to the Goldfields Highway, which is permitted for heavy haulage, quad trailer road trains to the railhead at Leonora and then direct rail access to both Esperance and Fremantle Ports, or via other heavy haulage roads to Geraldton Port.

Ø       The Goldfields Gas Pipeline is adjacent to Salt Lake Potash's tenements, running past the eastern side of the Lake.

Ø        Access to Blackham's existing Mining Leases provides advanced permitting pathway for early development activity, including the construction of the Williamson Ponds.

Ø        Salt Lake Potash will construct the Williamson Ponds and dewater the existing Williamson Pit on Lake Way. The pit contains an estimated 1.2GL of brine at the exceptional grade of 25kg/m3 of SOP. This brine is the ideal starter feed for evaporation ponds, having already evaporated from the normal Lake Way brine grade, which averages over 14kg/m3.

Ø     The high grade brines at Lake Way will result in lower capital and operating costs due to lower extraction and evaporation requirements.

Ø      The presence of clays in the upper levels of the lake which are amenable to low cost, on-lake evaporation pond construction.

The Company is concurrently progressing the imminent construction of the Williamson Ponds, whilst also rapidly advancing a 'whole of lake' scenario, including mineral resource estimates, permitting and approvals, pilot plant process testwork and assessment of infrastructure and logistical options.

A number of key appointments have been made during the Quarter that support the rapid development of the Lake Way Project, bringing diversified technical, construction, operations, process infrastructure experience to the Company, including:

·    Peter Cardillo as Project Director - Processing and NPI

·    Lloyd Edmunds as Project Director - Civil

·    Stephen Cathcart as Project Director - Technical

Salt Lake Potash has also engaged industry leading consultants to work alongside the Company's internal experts for works related to the larger 'whole of lake' development of the Lake Way Project, including:

·    WOOD - technical studies for a full scale commercial project  

·    Pendragon - environmental consultant

·    Ad-Infinitum - pond process design

·    Knight Piesold - Williamson Pond detailed design

·    Cardno - on playa trench hydraulics  

·    SRC - process testwork and pilot plant

·    Global groundwater - bore test pumping

·    Hydrogeoenviro - bore water licensing

Having completed a placement to raise $13.0 million during the quarter and built a team with capability and track record of successfully developing and constructing numerous resource projects, the Company is well placed to take advantage of the benefits of the Lake Way Project and its broader portfolio of nine salt lakes.

Discussions are also ongoing with a number of offtake partners and the testwork currently underway at SRC will provide high-grade SOP product samples for testing by these partners.

Native Title Land Access and Exploration Agreement

In December 2018, the Company signed a Native Title Land Access and Brine Minerals Exploration Agreement (the Agreement) with Tarlka Matuwa Piarku (Aboriginal Corporation) RNTBC (TMPAC) covering the Lake Way Project area.

TMPAC entered into the Agreement with Salt Lake Potash on behalf of the Wiluna People who are the recognised Native Title Holders of the land covering the Lake Way Project area. TMPAC also provided consent for the total area required for the construction and operation of the Williamson Ponds.

The signing of the Agreement with TMPAC and receipt of TMPAC's consent for the Williamson Ponds is a major milestone in the development of the Lake Way Project and positions Salt Lake Potash to accelerate the works program for the Williamson Ponds.

Approvals Advancing

The Company's Mining Proposal and Project Management Plans for the Williamson Ponds were approved by Department of Mines, Industry Regulation and Safety (DMIRS) during the quarter, and a Works Approval licence was also submitted to the Department of Water and Environmental Regulation (DWER). These works include the construction of operational scale evaporation ponds and associated infrastructure including pond trenching to provide brine conditioning to manage the brine extracted from the Williamson Pit.

Salt Lake Potash has previously received environmental approval from the DMIRS to construct ponds totalling up to 133Ha (the Williamson Ponds), as well as ancillary infrastructure.

The Williamson Ponds will be the first operational scale SOP evaporation ponds built on a salt lake in Australia - an important part of the staged de-risking and development at Lake Way and across the Company's portfolio of salt lakes in the Northern Goldfields Region.

A series of studies commenced during the quarter in support of the ongoing environmental approvals. These include flora and fauna surveys, climatology and hydrologic assessment, flood modelling and geotechnical investigations.

Mineral Resource Program

The Company has previously reported a Mineral Resource Estimate for Lake Way (Blackham tenements only). Work progressed during the quarter to enable the Company to estimate a 'whole of lake' Mineral Resource Estimate, including the remaining playa surface covered by Salt Lake Potash's tenements and the paleochannel aquifer, which were not considered as part of the initial Mineral Resource estimate and provide significant short term upside to increase resources at Lake Way.

Estimation of a 'whole of lake' resources will enable the Company to consider larger production scenarios for Lake Way.

A program of 19 auger holes, test pits, trench testing, recovery testing, brine sampling and laboratory determination of hydraulic parameters has commenced and is expected to be completed in the current quarter. Results of these activities will provide inputs to the Mineral Resource Estimate for the playa surface.

Planning and initial works also commenced on defining the paleochannel resource under Lake Way. 

By taking advantage of previous works in the area, the Company was able to identify and inspect three existing production bores drilled into the paleochannel.  Each of the holes was inspected by downhole camera which showed that all three remain intact and, with some minor cleaning and redevelopment, are expected to be suitable for test pumping.  Rehabilitation and test pumping is planned for the current quarter, and the results of this activity are expected to confirm the hydraulic parameters of the productive zone of the paleochannel and the brine grade.  The data produced from the test pumping will be used as an input to the Mineral Resource Estimate for the paleochannel.

A gravity and passive seismic geophysical survey consisting of 22 lines and a total coverage of greater than 110 km was commissioned to define the location and form of the Lake Way paleochannel within the Salt Lake Potash and Blackham tenements.  The work consists of a number of cross sections which are then combined to provide a 3D representation of the paleochannel.  This work will be completed in the current quarter.  When combined with the geological logs from previous work it is expected to be possible to define the extent of the brine hosting sediments and develop a volumetric understanding of the paleochannel, which in turn will inform the resource model.

Civil Construction - On-Lake Infrastructure

During the quarter, the Company progressed the first phase of on-lake development with completion of the detailed design of the Williamson Ponds to dewater the high grade Williamson Pit brine. This early works program will allow the fast-tracking of harvest salts in readiness for process plant commissioning.

Detailed engineering works during the quarter for the Williamson Ponds included further analysis of strength and permeability characteristics of lakebed sediments, and geotechnical parameters for final pond analysis and design. Other geotechnical design work undertaken included Cone Penetration Test (CPT) data analysis, trafficability assessment, access road analysis, seepage models, borrow pit assessments and development of the pond construction methodology. The geotechnical investigation and engineering works will expand in the current quarter for the larger 'whole of lake' scenario at Lake Way.

Surveying contractor, AAM Group set out the Williamson Pond design in readiness for construction commencement in the current quarter, and also commenced the Light Detection and Ranging (LiDAR) topographical survey flyover for the larger 'whole of lake' scenario.

Given the unique design and site conditions, the Company is now engaging with the specialist civil contracting market to select our contracting partners to build the on lake Williamson Ponds and dewater the Williamson Pit. In late December 2018, the Company mobilised initial construction equipment to Lake Way, with site preparation works being undertaken in preparation of the imminent construction of the Williamson Ponds.

The Company has also sort Expressions of Interest (EOI) from key civil contractors to participate in an Early Contractor Involvement (ECI) process for the larger 'whole of lake' development. To date, the Company has received positive feedback and acceptance from a number of major civil contractors.

Process Testwork

Comprehensive field evaporation trials at Lake Way are continuing to successfully produce substantial volumes of potassium Harvest Salts validating the modelled salt production process.

A major component of the feasibility study process for the Lake Way Project is to develop a brine evaporation and salt production model based on the brine chemistry of both Lake Way playa and Williamson Pit brines under local environmental (evaporation) conditions.

Initially, this model was based on a computer simulation generated by international brine processing experts Ad Infinitum, from known brine chemistry (from assays) and comprehensive public weather datasets. In this case the model was also informed by the Company's unique database of more than 18 months of field evaporation trials at Lake Wells, reflecting similar chemistry and environmental inputs.

In the second stage of the model development the computer simulation was calibrated against and updated for the results of wind tunnel evaporation tests of Lake Way brines under laboratory conditions.

Thirdly, the model is now being further refined by establishing a site evaporation trial, where a scaled down version of an evaporation pond system is established on site and brine is evaporated under actual field conditions. Both brine chemistry and salt production are closely monitored.

The Lake Way Site Evaporation Trial (SET) was established in May/June 2018 and initial brine feed was gradually introduced from both the Williamson Pit (SOP resource grade 25kg/m3) and the Lake Way playa (SOP resource grade 14kg/m3) (refer to Note 1 for mineral resource estimate on Blackham tenements). 

Over 100,000 litres of Williamson Pit and the Lake Way Playa brine has been fed into the SET pond system to date. Brine is sourced from a surface trench, for the Lake Way Playa brine, or direct from the Williamson Pit and introduced into a Halite Pond. As solar evaporation concentrates the brine, it progresses through a series of 5 ponds: two halite salt ponds, and then schoenite, kainite and carnallite salt ponds.

Harvested salt and brine samples are analysed at regular intervals through the evaporation process to gather data for model correlation. To date over 400 samples have been extracted and assayed at Bureau Veritas in Perth.

The results from the Lake Way SET to date demonstrate an excellent correlation to the salt production model.

This provides the Company with a very strong basis to continue development of the mass balance model and process flow sheet for the Lake Way Project.

It was found that halite salts begin to form almost immediately upon initial evaporation. This will shorten the overall salt production timeframe for the Williamson Pit brine. It may also offer the opportunity for faster construction of harvest pond infrastructure, utilising harvested halite salts for pavement. 

The Lake Way SET has already produced over 2 tonnes of Potassium Harvest Salts (1.8 tonnes Lake Way Playa and 0.4 tonnes of Williamson Pit) and a further 5 tonnes are forecast to be harvested during ongoing evaporation trials.

From the test work to date, the Williamson Pit and the Lake Way Playa brines have produced excellent high grade Harvest Potassium Salts with an exceptional K grade of up to 10% and an overall high average K grade of 6.8%. This aligns very well with the grades that were observed during the Lake Wells SET's.

This provides the Company with confidence that the Lake Way production model, process flowsheet and Harvest Salt product will produce a final high grade SOP product in line with the world leading SOP product of 53% K2O produced at Lake Wells.

The Company has engaged the world's leading potash processing laboratory, Saskatchewan Research Council (SRC), to establish a pilot plant based on the process flow sheet for the Lake Way Project. The initial batch of harvest salts from Lake Way has been delivered to SRC and testwork is underway.

The pilot plant will validate and refine the Lake Way process flowsheet and also produce high-grade SOP product samples for offtake partners.

LAKE BALLARD

The Lake Ballard Project is located about 15 km north of Menzies. The playa is a significant regional landform with a surface area of 698km2. The geology of Lake Ballard is similar to that encountered at other lakes in the Company's portfolio.   

Surface Aquifer Exploration Program

Final elements of fieldwork undertaken to enable the estimation of a resource were completed at Lake Ballard during the quarter. 

The Company commenced an auger drilling program in September 2018 to obtain insitu samples for geological logging, porosity measurement, specific yield testing and brine sampling. The holes were drilled using a track mounted auger rig, capable of drilling to between 15 - 20m depth depending on ground conditions.

Drilling was completed, with a total of 15 auger holes, from which 47 insitu samples from depths varying from 1m to 15m.

The core samples were collected and sent to Core Laboratories WA for analysis of hydraulic conductivity, total porosity and drainable porosity (Specific yield).

The Company also test pumped two trenches for 15 days and analysed data from the test pumping of 44 trial pits.

Results of the auger program and insitu sampling are in accordance with expectation and reported in full in Appendix 2.

The test pumping and trial pit data were analysed using known methodologies with the AQTESOLV analysis programme. This data will ultimately feed into a mineral resource estimate for the majority of the lake.

LAKE MINIGWAL

The Lake Minigwal Project is located in the Northern Goldfields Region of Western Australia approximately 80km south east of Laverton. 

During the quarter extensive gravity geophysics was run over the various branches of Lake Minigwal as a preliminary investigation into the depth to basement and location of the paleochannel.

The purpose of the gravity survey was twofold, to identify the depth to basement across the lake and to identify the thalweg of the paleochannel as a precurser to the development of a drilling programme.

Whilst there is confidence that the main trunk drainage of the paleochannel passes beneath the Company's tenements and that a large paleo-tributary that enters from the north and merges with the main trunk drainage beneath the eastern third of Lake Minigwal, the exact location is currently unknown.

The results are currently being processed, however preliminary analysis has identified the Thalweg of the paleochannel.  Further modelling will be undertaken to refine the data response and to identify future areas for greater density of surveys.

SOP SAMPLE PRODUCTION

During the quarter, the Company completed confirmatory testwork at Fremantle Metallurgy's mineral processing laboratory. The testwork, conducted by the Company's process engineers, began the process of converting several tonnes of harvest salts collected from the Lake Wells SET into SOP samples.  The process and equipment used was based upon the flowsheet previously tested by SRC.

The in-house work successfully tested some of the discrete unit operations in the flowsheet and generated a small amount of lake-derived SOP product for assessment of quality. The testwork has provided valuable inputs into the process flowsheet development and equipment selection for the Lake Way harvest salt testwork now underway at SRC. Importantly, the operation also provided the Company's process team valuable hands-on experience in dealing with the subtle complexities in the operation of a saturated salt-brine process.    

CORPORATE

During the quarter, the Company completed a placement to existing and new institutional and sophisticated investors in Australia and overseas for 31.0 million new ordinary shares of the Company, to raise gross proceeds of $13,000,000 (Placement). There was very strong demand for the Placement, an endorsement of the recent appointment of Tony Swiericzuk as CEO and also of the Company's world class Sulphate of Potash project.

The cornerstone investor for the Placement was a significant international investment fund. Directors and senior management subscribed for a total of 2.4 million shares in the Placement, including 950,000 shares by the CEO, Mr Tony Swiericzuk, and 750,000 shares by the Company's Chairman, Mr Ian Middlemas, which were issued in January 2019 following shareholder approval.

Proceeds from the Placement are being used to fund construction of the Williamson Ponds and dewatering of the Williamson Pit, as well as ongoing development of on-lake infrastructure, exploration and feasibility studies, and general working capital.

Having successfully raised the funds for project development at Lake Way, the Company significantly accelerated its activity and expenditure during the December quarter.

 

Note 1: Lake Way Mineral Resource Estimate (Blackham tenements only) 

Sediment Hosted Brine - Indicated (94%)

Playa Area

Lakebed Sediment Volume

Brine Concentration

Mineral Tonnage Calculated from Total Porosity

Mineral Tonnage Calculated from Drainable Porosity

 

 

K

Mg

SO4

Total Porosity

Brine Volume

SOP Tonnage

Drainable Porosity

Brine Volume

SOP Tonnage

(km2)

(Mm3)

(kg/m3)

(kg/m3)

(Kg/m3)

 

(Mm3)

(kt)

 

(Mm3)

(kt)

55.4

290

6.9

28.3

0.43

125

1,900

0.11

31.9

490

 

Williamson Pit Brine - Measured (6%)

Brine Volume (Mm3)

Potassium Conc.   (kg/m3)

Magnesium Conc.   (kg/m3)

Sulphate Conc.  

(kg/m3)

SOP Tonnage (kt)

1.26

11.4

14.47

48

32

Work is currently underway to enable the Company to report a Mineral Resource Estimate for the lake bed brine and the paleochannel aquifer for the 'whole of lake', which will enable the Company to examine larger production scenarios.

 

For further information please visit www.saltlakepotash.com.au or contact:

 

Tony Swiericzuk/Clint McGhie

Salt Lake Potash Limited

Tel: +61 8 9322 6322

Jo Battershill

Salt Lake Potash Limited

Tel: +44 (0) 20 7478 3900

Colin Aaronson/Richard Tonthat/Ben Roberts

Grant Thornton UK LLP (Nominated Adviser)

Tel: +44 (0) 20 7383 5100

Derrick Lee/Beth McKiernan

Cenkos Securities plc (Joint Broker)

Tel: +44 (0) 131 220 6939

Jerry Keen/Toby Gibbs

Shore Capital (Joint Broker)

Tel: +44 (0) 20 7468 7967

 

Competent Persons Statement

The information in this announcement that relates to Exploration Results for Lake Ballard is based on information compiled by Mr Ben Jeuken, who is a member Australian Institute of Mining and Metallurgy and a member of the International Association of Hydrogeologists. Mr Jeuken is employed by Groundwater Science Pty Ltd, an independent consulting company. Mr Jeuken has sufficient experience, which is relevant to the style of mineralisation and type of deposit under consideration and to the activity, which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Jeuken consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

The information in this announcement that relates to Process Testwork Results is extracted from the report entitled 'Field Trials at Lake Way Confirm Salt Production Process' dated 29 January 2019. This announcement is available to view on www.saltlakepotash.com.au. The information in the original ASX Announcement that related to Process Testwork Results was based on, and fairly represents, information compiled by Mr Bryn Jones, BAppSc (Chem), MEng (Mining) who is a Fellow of the AusIMM. Mr Jones is a Director of Salt Lake Potash Limited. Mr Jones has sufficient experience, which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking, to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Salt Lake Potash Limited confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement. Salt Lake Potash Limited confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from the original market announcement.

The information in this Announcement that relates to Mineral Resources is extracted from the report entitled 'Scoping Study for Low Capex, High Margin Demonstration Plant at Lake Way' dated 31 July 2018. This announcement is available to view on www.saltlakepotash.com.au. The information in the original ASX Announcement that related to Mineral Resources was based on, and fairly represents, information compiled by Mr Ben Jeuken, who is a member Australian Institute of Mining and Metallurgy and a member of the International Association of Hydrogeologists. Mr Jeuken is employed by Groundwater Science Pty Ltd, an independent consulting company. Mr Jeuken has sufficient experience, which is relevant to the style of mineralisation and type of deposit under consideration and to the activity, which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Salt Lake Potash Limited confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and, in the case of estimates of Mineral Resources, that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. Salt Lake Potash Limited confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from the original market announcement.

Appendix 1 - Summary of Exploration and Mining Tenements

As at 31 December 2018, the Company holds interests in the following tenements:

 

Project

Status

Type of Change

License Number

Interest (%)

1-Oct-18

 

Interest (%)

31-Dec-18

 

Western Australia

 

 

 

 

 

Lake Way

 

 

 

 

 

Central

Granted

-

E53/1878

100%

100%

East

Application

Application

E53/2057

-

100%

South

Application

-

E53/1897

100%

100%

South

Application

Application

E53/2059

-

100%

South

Application

Application

E53/2060

-

100%

Lake Wells

 

 

 

 

 

Central

Granted

-

E38/2710

100%

100%

South

Granted

-

E38/2821

100%

100%

North

Granted

-

E38/2824

100%

100%

Outer East

Granted

-

E38/3055

100%

100%

Single Block

Granted

-

E38/3056

100%

100%

Outer West

Granted

-

E38/3057

100%

100%

North West

Granted

-

E38/3124

100%

100%

West

Granted

-

L38/262

100%

100%

East

Granted

-

L38/263

100%

100%

South West

Granted

-

L38/264

100%

100%

South

Granted

-

L38/287

100%

100%

South Western

Granted

-

E38/3247

100%

100%

South

Granted

-

M38/1278

100%

100%

Lake Ballard

 

 

 

 

 

West

Granted

-

E29/912

100%

100%

East

Granted

-

E29/913

100%

100%

North

Granted

-

E29/948

100%

100%

South

Granted

-

E29/958

100%

100%

South East

Granted

-

E29/1011

100%

100%

South East

Granted

-

E29/1020

100%

100%

South East

Granted

-

E29/1021

100%

100%

South East

Granted

-

E29/1022

100%

100%

Lake Irwin

 

 

 

 

 

West

Granted

-

E37/1233

100%

100%

Central

Granted

-

E39/1892

100%

100%

East

Granted

-

E38/3087

100%

100%

North

Granted

-

E37/1261

100%

100%

Central East

Granted

-

E38/3113

100%

100%

South

Granted

-

E39/1955

100%

100%

North West

Granted

-

E37/1260

100%

100%

South West

Granted

-

E39/1956

100%

100%

Lake Minigwal

 

 

 

 

 

West

Granted

-

E39/1893

100%

100%

East

Granted

-

E39/1894

100%

100%

Central

Granted

-

E39/1962

100%

100%

Central East

Granted

-

E39/1963

100%

100%

South

Granted

-

E39/1964

100%

100%

South West

Granted

-

E39/1965

100%

100%

Lake Marmion

 

 

 

 

 

North

Granted

-

E29/1000

100%

100%

Central

Granted

-

E29/1001

100%

100%

South

Granted

-

E29/1002

100%

100%

West

Granted

-

E29/1005

100%

100%

Lake Noondie

 

 

 

 

 

North

Granted

-

E57/1062

100%

100%

Central

Granted

-

E57/1063

100%

100%

South

Granted

-

E57/1064

100%

100%

West

Granted

-

E57/1065

100%

100%

East

Granted

-

E36/932

100%

100%

Lake Barlee

 

 

 

 

 

North

Granted

-

E30/495

100%

100%

Central

Granted

-

E30/496

100%

100%

South

Granted

-

E77/2441

100%

100%

Lake Raeside

 

 

 

 

 

North

Granted

-

E37/1305

100%

100%

Lake Austin

 

 

 

 

 

North

Application

-

E21/205

100%

100%

West

Application

-

E21/206

100%

100%

East

Application

-

E58/529

100%

100%

South

Application

-

E58/530

100%

100%

South West

Application

-

E58/531

100%

100%

Lake Moore

Granted

Granted

E59/2344

-

100%

Northern Territory

 

 

 

 

 

Lake Lewis

 

 

 

 

 

South

Granted

-

EL 29787

100%

100%

North

Granted

-

EL 29903

100%

100%

 

 

Appendix 2 - Lake Ballard Auger and Test Pit Results

Table 1: Auger Hole and Shelby Tube Porosity and Effective Porosity Results

HoleID

Sample From

Sample To

Auger Core

Total Porosity

(% v/v)

Shelby Tube

Total Porosity

(% v/v)

Auger Core

Drainable Porosity (% v/v)

Shelby Tube

Drainable Porosity (% v/v)

LBAG001

1

2

44.2

 

10

 

LBAG001

3

4

49.8

 

12

 

LBAG001

6

7

44

 

9

 

LBAG001

11

12

 

 

 

 

LBAG002

1

2

46.6

 

8

 

LBAG002

2

3

49.7

 

11

 

LBAG002

5

6

57.4

 

15

 

LBAG002

7

8

 

 

 

 

LBAG002

9.5

10

35

 

8

 

LBAG003

 

1

52.6

 

12

 

LBAG003

2

3

53.4

 

14

 

LBAG003

4

5

51.8

 

11

 

LBAG003

8

9

37.8

 

8

 

LBAG003

11

12

52.4

 

13

 

LBAG003

12

13

42.2

 

11

 

LBAG004

1

2

48.6

 

14

 

LBAG004

4

5

51.4

 

11

 

LBAG004

7

8

47.7

 

12

 

LBAG004

9

10

43.4

 

10

 

LBAG004

12

13

48.3

 

11

 

LBAG005

2.2

2.5

64.5

 

17

 

LBAG005

4

5

43.1

 

11

 

LBAG005

7

8

49.3

 

9

 

LBAG005

9

10

48.2

 

9

 

LBAG005

12

13

51.2

 

11

 

LBAG006A

1

2

33.7

 

8

 

LBAG006A

3

4

26.7

 

12

 

LBAG006B

2

3

42.1

 

15

 

LBAG006B

8

9

41.9

 

8

 

LBAG007A

2

3

33.3

 

11

 

LBAG007B

2

3

59.1

 

17

 

LBAG007C

2

3

42.9

 

14

 

LBAG008

1

2

57.6

 

13

 

LBAG008

4

5

64.4

 

14

 

LBAG008

7

8

32.7

 

11

 

LBAG008

9

10

43.3

 

9

 

LBAG009A

2

3

26

 

13

 

LBAG009B

1

2

32.6

 

18

 

LBAG010

2

2.5

47.3

 

14

 

LBAG010

6

7

36

 

9

 

LBAG010

10

11

30

 

9

 

LBAG011

2

3

36.5

 

14

 

LBAG011

4

5

52.6

 

11

 

LBAG011

6

7

64.9

 

11

 

LBAG011

9

10

41.1

 

11

 

LBAG011

11

12

47.4

 

11

 

LBAG011

12

13

45.9

 

11

 

 

 

 

 

 

 

 

LBTT121

-

1

 

52.5

 

13

LBTT121

-

2

 

60.1

 

15

LBTT121

-

3

 

35.2

 

7

LBTT121

-

4

 

43.1

 

12

LBTT144

0.5

1

 

55.8

 

12

LBTT144

1.5

2

 

58.2

 

13

LBTT144

2.5

3

 

45.4

 

5

LBTT155

0.5

1

 

59.9

 

11

LBTT155

1.5

2

 

38.5

 

4

LBTT155

2.5

3

 

26.7

 

6

LBTT192

0.5

1

 

37.0

 

19

LBTT192

1

1.5

 

28.0

 

13

LBTT192

2

2.5

 

42.9

 

19

LBTT192

3

3.5

 

34.6

 

18

LBTT189

0

2

 

45.5

 

14

 

Table 2: Location Details for Auger Holes

Hole ID

Easting

Northing

Depth (m)

LBAG001

319177

6731097

12.7

LBAG002

318517

6731243

10.8

LBAG003

315539

6733652

13.0

LBAG004

311947

6733975

13.5

LBAG005

307467

6735256

14.5

LBAG006A

303547

6733253

5.0

LBAG006B

304066

6733890

9.0

LBAG007A

301092

6737570

4.5

LBAG007B

300749

6937786

4.0

LBAG007C

300443

6737940

3.0

LBAG008

303139

6739647

10.0

LBAG009A

299465

6741072

4.0

LBAG009A

299174

6741053

4.5

LBAG010

294859

6741331

11.0

LBAG011

290355

6741953

15.0

Note: All holes are vertical, with an RL of approximately 370m.  Depth indicates end of hole.

 

Table 3: Location Details for Test Pits

HoleID

Easting

Northing

 

HoleID

Easting

Northing

 

HoleID

Easting

Northing

LBTT011

324848

6734075

 

LBTT075

318810

6731492

 

LBTT143

312850

6735049

LBTT014

324869

6734673

 

LBTT076

318936

6731596

 

LBTT144

312822

6734850

LBTT015

324875

6734875

 

LBTT077

319077

6731719

 

LBTT145

312797

6734660

LBTT016

324648

6734154

 

LBTT078

319224

6731844

 

LBTT149

313340

6733847

LBTT017

324447

6734155

 

LBTT079

319344

6731947

 

LBTT150

313323

6733652

LBTT018

324250

6734155

 

LBTT080

319491

6732075

 

LBTT156

313143

6732468

LBTT019

324047

6734155

 

LBTT081

319626

6732190

 

LBTT161

311165

6737839

LBTT020

323847

6734155

 

LBTT082

319787

6732309

 

LBTT162

311016

6735825

LBTT021

323650

6734155

 

LBTT083

319908

6732429

 

LBTT164

311995

6734079

LBTT022

323447

6734155

 

LBTT084

320056

6732555

 

LBTT165

308329

6738318

LBTT023

323249

6734154

 

LBTT087

320625

6733158

 

LBTT166

307463

6735246

LBTT024

323047

6734155

 

LBTT099

316105

6731412

 

LBTT169

307397

6731029

LBTT025

323838

6734261

 

LBTT100

316051

6731653

 

LBTT170

304632

6730314

LBTT026

323839

6734212

 

LBTT101

315997

6731866

 

LBTT171

300652

6730490

LBTT027

323845

6734107

 

LBTT103

315997

6731866

 

LBTT172

303546

6733252

LBTT028

323847

6734054

 

LBTT105

315815

6732626

 

LBTT173

306038

6733728

LBTT030

322735

6730202

 

LBTT106

315764

6732827

 

LBTT174

305593

6736408

LBTT031

322531

6730201

 

LBTT107

315704

6733021

 

LBTT175

306265

6737846

LBTT038

321137

6730178

 

LBTT109

315603

6733390

 

LBTT176

300602

6734536

LBTT043

320136

6730166

 

LBTT110

315538

6733588

 

LBTT177

298528

6738100

LBTT045

319738

6730151

 

LBTT112

315395

6733959

 

LBTT179

295300

6743180

LBTT046

320132

6730100

 

LBTT113

315314

6734154

 

LBTT180

290882

6743418

LBTT047

320136

6730206

 

LBTT114

315240

6734314

 

LBTT181

298362

6736492

LBTT050

318601

6728705

 

LBTT115

316375

6734039

 

LBTR004

318513

6731366

LBTT053

319201

6728663

 

LBTT116

316521

6734168

 

LBTR007

315240

6734314

LBTT054

319406

6728628

 

LBTT119

316962

6734577

 

 

 

 

LBTT055

319603

6728608

 

LBTT123

317399

6734975

 

 

 

 

LBTT056

319804

6728588

 

LBTT124

317694

6732520

 

 

 

 

LBTT057

320003

6728568

 

LBTT125

317839

6735385

 

 

 

 

LBTT058

320209

6728546

 

LBTT126

317986

6735519

 

 

 

 

LBTT059

320404

6728525

 

LBTT127

318137

6735660

 

 

 

 

LBTT060

320604

6728506

 

LBTT128

318282

6735794

 

 

 

 

LBTT061

320800

6728486

 

LBTT129

318428

6735928

 

 

 

 

LBTT063

321301

6728433

 

LBTT131

313153

6737408

 

 

 

 

LBTT064

321502

6728412

 

LBTT132

313132

6737224

 

 

 

 

LBTT065

321703

6728389

 

LBTT133

313105

6737027

 

 

 

 

LBTT068

319222

6730192

 

LBTT134

313082

6736829

 

 

 

 

LBTT071

318604

6730200

 

LBTT135

313051

6736634

 

 

 

 

LBTT072

318364

6731106

 

LBTT136

313029

6736432

 

 

 

 

LBTT073

318513

6731235

 

LBTT137

313004

6736240

 

 

 

 

LBTT074

318664

6731366

 

LBTT142

312874

6735244

 

 

 

 

 

 

APPENDIX 3 - JORC TABLE ONE

Section 1: Sampling Techniques and Data

Criteria

JORC Code explanation

Commentary

Sampling techniques

Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling.

Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.

Aspects of the determination of mineralisation that are Material to the Public Report.

In cases where 'industry standard' work has been done this would be relatively simple (eg 'reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay'). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information.

Sampling involved the excavation of test pits over the tenement area to a depth of up to 6mbgl or weathered basement whichever was encountered first.  Two trenches were also dug to 3.5m depth.

 

A brine sample and duplicate were taken from each test pit and trench for analysis.

 

Samples were taken manually by initially rinsing out the bottle with brine from the pit or trench and then placing the bottle in the test pit or trench and allowing it to fill.

Samples were analysed for K, Mg, Ca, Na, Cl, SO4, HCO3, NO3, pH, TDS and specific gravity.

 

Each test pit was geologically logged and a sample taken each 1m depth.

 

Test pumping entailed pumping from the trenches and test pits using a diesel driven submersible pump coupled to a level switch.

 

Water levels in the piezometer, test pits and trenches were logged manually and by pressure transducer.

Drilling techniques

Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc).

Hollow-stem auger holes drilled to basement or refusal, up to 15m. Core was collected from surface, geologically logged, sampled and set for lab analysis for porosity.

 

Once completed brine samples also taken from the open hole

 

Test pits were dug with an excavator

 

Drill sample recovery

Method of recording and assessing core and chip sample recoveries and results assessed.

Measures taken to maximise sample recovery and ensure representative nature of the samples. Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.

Samples from the test pits were logged each bucket and a representative sample bagged.

 

100% of excavated sample was available for sampling.  The ability to see the bulk sample facilitated the selection of a representative sample.

 

There is no relationship between sample recovery and grade and no loss of material as a result of excavation.

 

Logging

Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies.

Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography.

The total length and percentage of the relevant intersections logged.

The geological logging is sufficient for the purposes of identifying variations in sand/ clay and silt fraction within the top 6m.  For a brine abstraction project, the key parameters are the hydraulic conductivity and storativity of the host rock, which will be determined during test pumping of the trenches.

 

The logging is qualitative.

 

The entire pit depth was logged in every case.

 

Sub-sampling techniques and sample preparation

If core, whether cut or sawn and whether quarter, half or all core taken.

If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry.

For all sample types, the nature, quality and appropriateness of the sample preparation technique.

Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples.

Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half sampling.

Whether sample sizes are appropriate to the grain size of the material being sampled.

Whole core taken.

 

Not applicable, core drilling.

 

At all test pits brine samples were taken from the pit after 24hours or once the pit had filled with brine.  The brine samples taken from the pits are bulk samples which is an appropriate approach given the long-term abstraction technique of using many kilometres of trenches to abstract brine.

 

All the samples taken were incorporated into a QA / QC program in which Standards and Duplicates were taken. The samples were taken in sterile plastic bottles of 250ml capacity.

Excavated lake bed samples were sealed in plastic bags.  For all brine samples (original or check samples) the samples were labelled with the alphanumeric code B800001, B800002 ...

 

Lake bed samples were labelled with the test pit locator LBTT01, LBTT02 etc. and the depth from which they were taken.

 

Quality of assay data and laboratory tests

The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total.

For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc.

Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established.

The brine samples were sent to Bureau Veritas Laboratories in Perth, WA with the duplicates being held by Salt Lake Potash.  Every 10th duplicate was sent to Intertek, an alternate laboratory for comparison purposes.

 

No laboratory analysis was undertaken with geophysical tools.

 

Soil samples and laboratory derived hydraulic conductivity, total porosity and drainable porosity samples were analysed by Core Laboratories in Perth WA.  All laboratories used are NATA certified.

 

Verification of sampling and assaying

The verification of significant intersections by either independent or alternative company personnel.

The use of twinned holes.

Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.

Discuss any adjustment to assay data.

Not applicable, no significant intersections, no verification required.

 

No twin holes were drilled.

 

All sampling and assaying is well documented and contained on Salt Lake Potash's internal database

 

No adjustments have been made to assay data

Location of data points

Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation.

Specification of the grid system used.

Quality and adequacy of topographic control.

All coordinates were collected by handheld GPS.

 

The grid system is the Australian National Grid Zone MGA 51 (GDA 94)

 

The is no specific topographic control as the lake surface can essentially be considered flat.

 

Data spacing and distribution

Data spacing for reporting of Exploration Results.

Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied.

Whether sample compositing has been applied.

The lake area contained within the Ballard tenements was calculated by digitising the lake surface and removing the area covered by the islands, the approximate area for the eastern portion of the lake is 359 km2, 205 km2 for the western portion. 181 test pits, 15 auger holes and 2 trenches were excavated over the eastern portion of the lake surface resulting in 1 excavation per 1.8 km2 providing a high density of investigation over this portion of the tenement.

 

However, western portion of the lake has had little to no work completed and is considered to have a low density of investigation suitable for determining an exploration target.

 

Sample compositing not applicable.

Orientation of data in relation to geological structure

Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type.

If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.

There are no structural or geological controls with respect to sampling the lake bed sediments.  The variation in depth to basement does control the potential depth of future trench systems.

 

Geological influence on the brine is limited to the aquifer parameters of the host rock, namely the hydraulic conductivity, and porosity.

 

Sample security

The measures taken to ensure sample security.

Salt Lake Potash's field geologists were responsible for bagging and tagging samples prior to shipping to the BV lab in Perth and the Salt Lake Potash offices.  The security measures for the material and type of sampling at hand was appropriate

Audits or reviews

The results of any audits or reviews of sampling techniques and data.

Data review included an assessment of the quality of assay data and laboratory tests and verification of sampling and assaying.  No audits of sampling techniques and data have been undertaken.

 

Section 2: Reporting of Exploration Results

Criteria

JORC Code explanation

Commentary

Mineral tenement and land tenure status

Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings.

The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.

The tenements covering Lake Ballard are all exploration licenses, held solely by Salt Lake Potash, are; E29/912, E29/913, E29/948, E29/958, E29/1011, E29/1021 and E29/1022

 

Exploration done by other parties

Acknowledgment and appraisal of exploration by other parties.

A large amount of historical exploration work has been undertaken surrounding Lake Ballard focusing on gold, nickel and uranium.  There has been limited exploration on the lake surface with most exploration associated with uranium exploration in the upper 10 m.  Soil sampling was undertaken on the lake, as well as a number of geophysical surveys and shallow drilling activities.  The Company has reviewed multiple publicly available documents to provide an understanding of the geology and hydrogeology in the Lake Ballard paleodrainage.

Geology

Deposit type, geological setting and style of mineralisation.

The deposit is a salt-lake brine deposit.

 

The lake setting is typical of a Western Australian palaeovalley environment. Ancient hydrological systems have incised palaeovalleys into Archaean basement rocks, which were then infilled by Tertiary-aged sediments typically comprising a coarse-grained fluvial basal sand overlaid by palaeovalley clay with some coarser grained interbeds. The clay is overlaid by recent Cainozoic material including lacustrine sediment, calcrete, evaporite and aeolian deposits. 

Drill hole Information

A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes:

o   easting and northing of the drill hole collar

 elevation or RL (Reduced Level - elevation above sea level in metres) of the drill hole collar

o   dip and azimuth of the hole

o   down hole length and interception depth

o   hole length.

If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.

Hollow-stem auger holes were completed along with test pits and trenches were excavated on the lake surface.

 

All test pit and trench details and locations of all data points are presented in the report.

Data aggregation methods

In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg cutting of high grades) and cut-off grades are usually Material and should be stated.

Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail.

The assumptions used for any reporting of metal equivalent values should be clearly stated.

Within the salt-lake extent no low-grade cut-off or high-grade capping has been implemented due to the consistent nature of the brine assay data.

 

Test pit and trench data aggregation comprised calculation of a hydraulic conductivity, transmissivity and drainable porosity for the whole sequence.

 

Relationship between mineralisation widths and intercept lengths

These relationships are particularly important in the reporting of Exploration Results.

If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported.

If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (eg 'down hole length, true width not known').

The chemical analysis from each of the test pits and auger holes has shown the that the brine resource is consistent and continuous through the full thickness of the Lake Playa sediments unit. The unit is flat lying all auger holes were excavated into the lake sediments to a depth of 15m or basement, the intersected depth is equivalent to the vertical depth and the thickness of mineralisation.

 

Diagrams

Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views.

All location maps and sections are contained within the body of the ASX Announcement available at www.saltlakepotash.com.au .

Balanced reporting

Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.

All results have been included in the body of the report.

 

Other substantive exploration data

Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples - size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.

All material exploration data has been reported.

Further work

The nature and scale of planned further work (eg tests for lateral extensions or depth extensions or large-scale step-out drilling).

Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.

·          Further work is planned at the western end of the lake bed in 2019 and a maiden mineral resource estimate will be prepared for Lake Ballard.

 

 

 


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December 2018 Quarterly Report - RNS