Salt Lake says Goldfields potash project showing high-class potential

Potash explorer Salt Lake Potash Limited’s (AXS: SO4) confidence has grown in the high-class potential of its Western Australian projects following the results of reconnaissance surface sampling in the Lake Way area.

The company said the return of brine samples averaging 15kg/m3 of Sulphate of Potash (SOP) equivalent, when taken in conjunction with extensive historical exploration data, indicate excellent potential for Lake Way to host a large high-grade SOP brine resource, substantially enhancing the prospects of the company’s Goldfields Salt Lakes Project (GSLP).

Salt Lake Potash’s CEO, Matt Syme, said extensive historical exploration in the area supports the brine chemistry at depth and also indicates the presence of a potentially high yielding paleochannel aquifer, with a number of Constant Rate Pumping Tests (CRT) producing yields between 520kL/day and 840kL/day.

He said the project also benefits from having a large surface area for potential extraction of brine via trenches and construction of on – lake evaporation ponds.

The project is also well located, being less than 15 km from Wiluna and adjacent to the Goldfields Highway, and the Goldfields Gas Pipeline and 280 km from the Leonora railhead.

“These reconnaissance sampling results, in combination with the review of historical exploration data, provides an exciting opportunity at Lake Way,” Mr Symes said.

“Lake Way itself appears capable of supporting a high quality standalone SOP project, but also offers significant opportunity to be integrated into the GSLP – an emerging and potentially world class SOP province. The company will follow these initial results with a comprehensive exploration program in the new year.”