Highfield Announces Further High-grade Potash at Muga Project

Highfield Resources Ltd. (ASX:HFR) announced that it has intersected new high-grade potash at its Muga potash project. Highlights include hole DDH J14-07, which intersected 5.1 meters at 16.4-percent K2O, including 1.5 meters at 29.9-percent K2O (47.3-percent KCl).

Other highlights include:

• DDH J14-06 intersected:
  • 359.1 – 372.0m, 13.2m at 13.4% K2O (21.2% KCl), with high-grade beds of:
    • 5.1m at 16.3% K2O (25.8% KCl), including 1.2m at 22.5% K2O (35.6% KCl); and
    • 2.4m at 16.4% K2O (26.0% KCl) (final complete assay results)
• Encouraging potash intersections from DDH J14-02 (180.6 – 212.2m) and DDH J14-04 (286.2 – 239.9m), with final results pending
• Final three drill holes of an 11 drill hole program to complete block model for Muga Mine expected to be completed within one month
• A dual decline strategy is being considered for the Muga Mine DFS to simultaneously take advantage of high grade mining areas and to reduce project risk whilst increasing anticipated final production
• Mining Concession application for Muga Mine on track for lodgement this Quarter
• In order to incorporate latest drilling success and upgraded block model, DFS for Muga Mine now expected in Q1 CY2015
• JORC Resource upgrade for Muga-Vipasca Project expected in the current Quarter

Click here to read the full Highfield Resources Ltd. (ASX:HFR) press release.