http://www.proactiveinvestors.com.au/companies/news/60872/south-boulder-mines-submits-more-environmental-assessments-for-colluli-60872.html
Second Tranche of Baseline
Assessments Submitted
ASX Release
24 February 2015
http://www.southbouldermines.com.au/wp-content/uploads/Second-Tranche-of-Baseline-Assessments-Submitted.pdf
South Boulder Mines submits more environmental assessments for Colluli
Tuesday, February 24, 2015 by Proactive Investors
South Boulder Mines (ASX:STB) has now submitted four additional baseline assessments to the Eritrean Ministry of Energy and Mines for the Colluli Potash Project in Eritrea.
The baseline assessments, which include noise, air quality, mine waste characterisation and birds, were completed by STB Eritrea personnel along with environmental consultants MBS Environmental and WKC.
Mine waste characterisation work was completed using data from the most recent drilling campaign on site.
South Boulder has already received positive feedback from its first tranche of baseline submissions.
Paul Donaldson, managing director, commented: “We are pleased to have completed and submitted our second tranche of baseline assessments and to have received positive feedback on the first tranche we submitted in August 2014.
"Having all of the baseline assessments completed and submitted well ahead of the definitive feasibility study will ensure that we minimise the duration of the approval process for the mining licence application.
“We are in the final stages of completing the PFS for the production of potassium sulphate with study results being completed in February 2015.
"Metallurgical optimisation testwork and pilot studies are continuing for the DFS”.
The final tranche of baseline assessments still outstanding will include oceanography, marine wildlife and habitat, hydrogeology, and hydrology and climate.
South Boulder expects that these assessments will be completed and submitted in Q2 2015.
Colluli Potash Project
Colluli is a very large, long life, at surface deposit, that is highly amenable to open cut mining methods and is in close proximity to the coast.
It contains over 1 billion tonnes of potassium bearing salts suitable for the production of potash fertiliser in the Danakil depression, an emerging potash province where over 4 billion tonnes of measured and indicated potassium bearing salts have been identified.
The company continues to work with the equal partner Eritrean National Mining Company (ENAMCO) to develop the Colluli Potash Project.
Cashed up
South Boulder had $7.5 million in cash as at the end of December 2014 and has raised $2.05 million in January through the placement of 10 million shares at a 6% premium to market.
Milestones ahead
- Completion of all PFS work streams;
- Publication of the PFS economics in Q1; and
- Completion of a high quality DFS in Q3.
Received on Tue Feb 24 2015 - 05:54:55 EST