News: Wildhorse Energy acquiring two Western Australia potash projects

Wildhorse Energy (ASX:WHE) has entered into an agreement to acquire Australia Salt Lake Potash Pty Ltd, which holds two large scale high grade sulphate of potash (SOP) brine projects in Western Australia.

The projects have the potential for producing substantial tonnages of SOP and have good access to transport infrastructure.

Wildhorse is acquiring Australian Sale Lake Potash (ASLP) for 15 million shares and 22.5 million performance shares that will vest on various conditions.


Projects

The Lake Wells Project covers 1,126 square kilometres over the Lake Wells playa about 180 kilometres northeast of Laverton in the West Australian Goldfields.

This has been extensively drilled and sampled, with a high average dissolved potassium (K) content of 5,220 mg/L and brine chemistry which favours potential production of SOP by conventional methods.

The Lake Ballard covers 775 square kilometres and is located 350 kilometres southwest of the Lake Wells Project.

Historical sampling indicates highly elevated potassium contents in the brines and the project also has a large catchment area, very good evaporation potential and access to excellent transport infrastructure and the Goldfields gas pipeline.

Substantial news flow is expected over the coming months with:

- Further drilling to assess the extent and continuity of brine laterally and at depth;
- Hydraulic testing and pumping tests from bores and/or trenches to determine aquifer properties, expected production rates and infrastructure design (trench and bore size and spacing);
- Studies on the lake recharge dynamics to determine the lake water balance and subsequent production water balance, as well as studies of the brine chemistry characteristics and evaporation trials; and
- Preparation of an initial resource estimate in accordance with the JORC Code.

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