DRILLING UPDATE – POTASH EXPLORATION SOUTH CARNARVON BASIN ASX RELEASE 09 APRIL 2009 As at 1200 hours, 09 April 2009, Potash Exploration hole RWDK0903 was at a depth of 1,057 metres and coring in Dirk Hartog formation limestone. Based on the previous hole RWDK0801, 50km to the east it is expected that a further 200 metres of penetration is required to fully test the prospective Dirk Hartog horizon. At the current rate of drilling this is expected to take a further 10-15 days. A decision on location of the next hole will depend on results of the current RWDK0903 but will probably be drilled in the Yaringa area 105km south of the current hole. A significant halite (salt) horizon is known to exist in the Yaringa at a depth of 1,100 - 1,200 metres. Minor Potash mineralisation was encountered in the evaporite horizons previously intersected in that sector. Further results will be provided as they come to hand. Yours faithfully MICHAEL RUANE Director
RWD Price at posting:
51.1¢ Sentiment: Buy Disclosure: Held
