VIDEO PPR-TV: South Boulder Mines (ASX:STB) Continues To Advance the Colluli
Potash Project
Sydney, Australia, Dec 2, 2014 - (ABN Newswire) - East Africa focused
emerging potash company South Boulder Mines (ASX:
<
https://au.finance.yahoo.com/q?s=stb.ax> STB.AX -
<
https://au.finance.yahoo.com/q/h?s=stb.ax> News) (OTCMKTS:
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https://au.finance.yahoo.com/q?s=sbmsy> SBMSY -
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https://au.finance.yahoo.com/q/h?s=sbmsy> News) is on the development path
at its Colluli Potash Project in southern Eritrea, East Africa, where the
company's work on a pre-feasibility study is well advanced.
The Perth-based, ASX-listed company's project hosts a large, high grade
potassium bearing resource close to surface, in close proximity to the
Eritrean coast and geographically favourable relative to key markets.
Colluli lies in an emerging potash province, the Danakil Potash belt, which
currently hosts over 4.2 billion tonnes of measured and indicated potassium
salts. Danakil compares favourably in terms of size, resource depth and
environmental issues against other potash belts globally.
The project itself hosts over 1 billion tonnes of potassium bearing salts
including sylvite, carnallite and kainite salts which are all suitable for
the production of potash fertilisers.
What makes this project unique is that it is one of only three major global
deposits containing kainite salt in solid form. The fact that the salts are
in solid form is a major differentiator from other projects which require
potassium-rich brines to be evaporated in order to create salts.
Kainite is the most important salt used for low cost production of potassium
sulphate (SOP), a premium potash product with a substantial price premium
over potassium chloride (MOP).
In October, the company revealed metallurgical testing conducted at
Saskatchewan Research Council laboratory had successfully resulted in the
production of commercial grade SOP. The process, which essentially involves
combining decomposed kainite and sylvite under ambient conditions, reduces
mining strip ratio as well as the potential to cut capital and operating
costs.
"The most exciting thing about the Colluli development path is that we
actually lower our cost base to make a product with a substantial price
premium," South Boulder Mines chief executive officer and managing director
Paul Donaldson said.
"We are excited by the simplicity of the process which is effectively
flotation and mixing of recovered potassium salts from the open pit.
"Taking the requisite time to get the process design right has reduced the
process plant capital and demonstrated successful generation of the premium
potash product, potassium sulphate (SOP)."
What also separates the company from its potassium sulphate peers is
Colluli's location only 75km from the Red Sea coast, making it the closest
potassium sulphate resource globally to the coast.
The company is now well advanced with its work on the pre-feasibility study
which is expected to be announced in February 2015. Test work on the
definitive feasibility study is running in parallel with pre-feasibility
work and is expected to be completed mid-2015.
The project is held in a 50:50 joint venture with the Eritrean National
Mining Company (ENAMCO). Eritrea is regarded as a stable jurisdiction with
mining an important component of the country's economic development.
To view the video, please visit:
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http://www.abnnewswire.net/press/en/78886/stb>
http://www.abnnewswire.net/press/en/78886/stb
About South Boulder Mines Limited:
CMSC owns exploration tenements spanning over 400km2 within the Danakil
Depression in South East Eritrea.
Since 2010, 97 holes have been drilled identifying a resource containing
more than one billion tonnes of potassium bearing salts suitable for the
production of potash fertilisers.
South Boulder Mines Ltd is currently working on the Feasibility Study to
support the development of the project.
Contact:
James Harris
Account Manager
Email: james.harris_at_ppr.com.au
Phone: 08 9388 0944
Website: www.ppr.com.au
Received on Tue Dec 02 2014 - 18:39:16 EST