Centrex Metals Ltd. (ASX:CXM) announced it has entered into a purchase agreement with Sheffield Resources to acquire the Oxley potash project in Western Australia for AU$2.5 million.
Some highlights of the agreement include:
- Centrex to acquire Oxley potash project in Western Australia for AU$2.5 million
- Rare high potassium grade potash feldspar dominant microsyenite
- Centrex to investigate processing routes for a vertically integrated operation producing high-value potassium products
- Relatively thick, 32 kilometer long, outcropping and shallow dipping microsyenite means potential for scale and favourable mining costs
- ideally located close to existing infrastructure including roads, rail, gas, power and 125 kilometers from Geraldton Port
- Processing options review and bench scale testwork to commence upon completion
Ben Hammond, CEO of Centrex, commented:
The Oxley project has a number of synergies with Centrex’s existing bulk commodities business. The infrastructure scales, logistics distances and options are very similar to Wilgerup where we have a lot of existing knowledge. The main contaminant in the rock is iron which Centrex has significant mineral processing experience in removing, albiet from the opposing product perspective. This project represents a good strategic fit with both our business and our networks in China and India.
Click here to read the full Centrex Metals Ltd. (ASX:CXM)Â press release.