Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
African Potash, the AIM listed exploration company focused on sub-Saharan potash assets, is pleased to announce that it has commenced drilling its first hole at the Company’s Lac Dinga Potash Project in the Republic of Congo (‘Lac Dinga’ or the ‘Project’). This initial hole is the first of a two hole rotary/core drilling programme and is planned to a depth of ~500m below surface. The drilling programme will test two high-priority targets which are interpreted to have potential for high-grade potash mineralisation based on the interpretation of seismic data.
African Potash CEO, Edward Marlow, said, “Lac Dinga, which is located in a world-class potash bearing region, has to date demonstrated the potential to host significant high-grade sylvinite tonnage at attractive depths. The objective of this maiden drilling campaign is to improve our understanding of the asset and provide a basis for evaluation of the resource potential of this highly strategic asset. I look forward to providing further information regarding the advancement of this drilling campaign in due course.”
Lac Dinga
Lac Dinga is located in a highly prospective area; the Project is adjacent to the Sintoukola licence held by Elemental Minerals Limited (ASX/TSX: ELM) and the Makola licence of Evergreen Resources Holdings (BVI) Ltd. The Sintoukola Potash Project has a JORC compliant measured and indicated mineral resource of 959Mt at an average grade of 15.11 K2O (23.91% KC1), which includes a sylvinite mineral resource of 413Mt at 20.39% K2O (32.29% KC1) in the Measured and Indicated categories.
Exploration work is planned to delineate a JORC compliant resource and maximise the value potential of the Project.
