From: michael seium (michael.seium@gmail.com)
Date: Wed Jul 29 2009 - 00:18:02 EDT
STB - South Boulder Gets Colluli Potash Exploration Go-Ahead
(Source: RWE Equity Business News Service)[image: tracking]COMNEWS STB
SYDNEY 1001/1/1 STB - Company Announcement $gen0 28 July 2009 Part 1/1 ---
South Boulder gets Colluli potash exploration go-ahead
Sydney - Tuesday - July 28: (RWE Aust Business News) - South Boulder Mines
(ASX:STB) has received the Colluli potash project exploration licence from
the Eritrean Ministry of Energy and Mines.
The project is located in the Danakil Depression region of Eritrea
approximately 200 kilometres south east of the capital, Asmara.
The project consists of buried evaporite deposits in which two shallow
potash bearing horizons were identified from historical diamond drilling
conducted in 1968 by the former Ethiopian Potash Company.
The Danakil Depression has ancient history of artisanal salt production with
the most intensive period of exploration and trial underground mining
between 1958 and 1970 at the Musley and Crescent deposits, 15km south west
of Colluli.
The project is located less than 100kms south of the shallow water port of
Mersa Fatma and less than 200kms south east of the deep water port of
Massawa.
The potential to utilise solar evaporation and solution mining techniques
make the project very attractive to South Boulder.
These factors coupled with the relatively shallow nature of the
mineralisation could lead to relatively cheap capital and operating costs if
a deposit is defined.
South Boulder intends to complete detailed data compilation and to undertake
diamond drilling, to confirm the reported potash intercepts and to collect
samples for preliminary metallurgical test work.
The drilling is planned for the field season in early October.
South Boulder believes the project has the potential to host a world class
potash deposit and is committed to assessing this potential.
It is in the process of setting up a local branch office in Asmara.
ENDS rx 28-07 1134
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