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Allana Potash (TSX:AAA) updated the mineral resource for the Danakhil Potash Deposit in Ethiopia. The company increased the measured and indicated mineral resource by over 90 percent to 2.4 billion tonnes.
Allana Potash (TSX:AAA) updated the mineral resource for the Danakhil Potash Deposit in Ethiopia. The company increased the measured and indicated mineral resource by over 90 percent to 2.4 billion tonnes.
According to the company’s press release:
The measured and indicated mineral resource estimate totals 2,446.4 Million tonnes with an average grade of 17.9 % KCl, representing approximately 438 Million tonnes of KCl. This is more than an 85% increase over the April 2012 measured and indicated mineral resource estimate of 1,297 Million tonnes at an average grade 19.3% KCl, and close to a doubling of the KCl tonnes in these resource categories (see news release dated April 30, 2012) (the “April 2012 report”). In addition to the strong increase in estimated measured and indicated mineral resources, the inferred mineral resource estimate for all four potash units is an additional 1,117,400,000 tonnes grading 15.9% KCl. This represents a 90% increase in the inferred mineral resource estimate as well as a 63% increase in contained KCl to approximately 178 Million tonnes.
Farhad Abasov, President and CEO, commented:
We are excited to see the large increase in total mineral resources on the project and the significant conversion of inferred mineral resources into measured and indicated mineral resource categories. Potash resources continue to expand with our exploration activities which are ongoing on the Nova license. We are encouraged that significant additional mineralization of Carnallite and Kainitite have been delineated and will initiate further studies on these resource estimates. Exploration drilling continues on the Nova license with three holes remaining in this program, after which a revised mineral resource estimate is scheduled for completion.
Click here to view the full report.
