South Boulder Releases Mineral Estimate for Colluli Project: 1.289 billion tonnes K2O

Potash Investing

South Boulder Mines Ltd. (ASX:STB) announced its mineral resource estimate for the Colluli potash project in East Africa: 1.289Bt, average grade 10.76% of K2O (potassium oxide), with a contained K2SO4 (potassium sulphate) equivalent1 of 260Mt. A pre-feasibilty study is slated for February 2015.

Managing Director, Paul Donaldson, said, “There is no question about the size and potential of the Colluli resource. It will form the backbone of what will become a significant project in the future. This work verifies this as one of the largest potassium sulphate resources globally.”

As quoted in the press release:

Highlights
Mineral resource of 1.289Bt, average grade 10.76% K2O
Contained K2SO4 (Potassium Sulphate) equivalent1 of 260Mt
Resource uplift of 210Mt mineralised material
97% of mineral resource in Measured and Indicated categories
The Colluli deposit comprises:
Measured mineral resource: 303Mt at 10.98% K2O
Indicated mineral resource: 951Mt at 10.89% K2O
Inferred mineral resource: 35Mt at 10.28% K2O
Pre-feasibility study for Potassium Sulphate (SOP) production on track for completion in February 2015
South Boulder Mines (ASX:STB) (“South Boulder”, “STB”, or “the Company”) is pleased to announce the JORC 2012 Mineral Resource estimate for the Colluli potash project in Eritrea, East Africa.
The total Mineral Resource estimate comprises 1,289 Million tonnes (Mt) at an average grade of 10.76% K2O.
The Mineral Resource estimate was conducted and completed by AMC Consultants (AMC) at the request of South Boulder, and is a review of previous work conducted by Ercosplan Ingenieurgesellschaft Geotechnik und Bergbau mbH (Ercosplan).
The review was carried out in preparation for the allocation of the Maiden Reserve for the Colluli potash project, which will also be completed by AMC.
South Boulder Managing Director, Paul Donaldson said “This is an excellent outcome. As well as 210 million tonnes of uplift in the Mineral Resource estimate, 97% of the Mineral Resource now sits in the Measured and Indicated categories.”
“There is no question about the size and potential of the Colluli resource. It will form the backbone of what will become a significant project in the future. This work verifies this as one of the largest potassium sulphate resources globally,” he said.
“It is also appropriate that we change our resource grade reporting from % KCl to % K2O at this juncture, due to the combination of salts in the resource which favour the production of potassium sulphate (SOP) and is the focus of our pre-feasibility study.”