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From: Berhane Habtemariam (Berhane.Habtemariam@gmx.de)
Date: Wed Jul 20 2011 - 14:23:01 EDT
South Boulder Mines Limited Update On Colluli Potash Project
<http://www.minenportal.de/unternehmen_snapshot.php?mid=1164> South Boulder
Mines Ltd.10:34 AEST June 20, 2011 ABN Newswire (C) 2004-2011 Asia Business
News PL. All Rights Reserved.
Perth, Australia (ABN Newswire) -
<http://www.minenportal.de/unternehmen_snapshot.php?mid=1164> South Boulder
Mines Ltd (ASX: STB) is pleased to report that exploration drilling and
independent feasibility study activities continue to define a world class
potash project in Eritrea.
Exploration at the newly defined Area B Prospect, continues to intersect
potash from depths as shallow as 20m. Assays have yet to be returned from
this new discovery area however, sylvinite (a typically high grade ore) has
been visually identified in core from 10 holes.
In addition, further potash assays have been returned from drilling at the
Area A deposit from within and outside the current 43-101/JORC compliant
Mineral Resource Estimate (Col-008, 011, 012, 013 and 016).
Assays from holes Col-015, 017, 018, 021B are due to be received in June and
will be compiled for inclusion in an upgraded Mineral Resource Estimate for
the Area A deposit. The revised Mineral Resource Estimate for Area A will be
used as the basis for the engineering scoping study. Area B and any new
discoveries will be included in the definitive feasibility study to follow.
It is currently expected that the scoping study which commenced in March
2011 will be completed at the end of August. Completion of the feasibility
studies are expected by mid-2013 and first potash production is scheduled
for mid-2016.
The current independent engineering scoping study is being completed by a
multi-disciplinary technical team that is highly experienced in potash,
mining and environmental assessment. The study will provide a robust
platform from which to determine the areas of detailed focus for the
definitive feasibility study.
Definitive feasibility study activities commenced or completed include;
- Collection of environmental and climate data;
- Determination of initial open pit design parameters;
- Design of the hydrogeological assessment program and model parameters for
surface and groundwater;
- Port, coastal and transport options evaluation field trip;
- Metallurgical processing route testwork;
- Environmental, social impact and archaeological survey planning;
- Marketing study for MOP and SOP production/sales.
Details on further exploration results and feasibility study activity will
be released as they come to hand.
About the Nickel Joint Venture
The Duketon Nickel JV has had recent success at The Rosie and C2 Nickel
sulphide prospects where drilling has defined intercepts of 5.20m @ 9.13%
Ni, 1.09% Cu, 0.21% Co and 7.09g/t PGE's at Rosie and 50m @ 0.92% Ni
including 37m @ 1.05% Ni at C2.
The deposits are located approximately 120km NNW of Laverton, W.A in the
Duketon Greenstone Belt. The deposits are approximately 2km apart and the
mineralisation at both prospects is considered open in most directions. A
Mining Lease was granted over the Rosie and C2 deposits on the 19th of
November. A resource definition and exploration drilling program and scoping
study into an open pit mine at C2 and an underground mine at Rosie is
underway.
For the complete South Boulder Mines announcement including tables and
figures, please refer to the following link:
<http://www.abnnewswire.net/media/en/docs/545898.pdf>
http://www.abnnewswire.net/media/en/docs/545898.pdf
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