elm's res.estimation 4 holes doubles stb's res

I have made a resource estimation for 4 holes only. This is not an official estimation. I have made it as my own work to understand the size of the resource. I just wanted to share it with you. That's all. We can discuss those results. Any critics welcome.

The total measured resource size of EK-01, EK-04, EK-05 and EK-06 is quite good; Measured Resource (in-ground) : 12.83mt @ over 28% KCl grade. (A recovery rate will be calculated for u/g mining)

This is only for 4 holes and 3 of them in the south-east area in-line with disrupted sylvinite layers. Carnallite is still excluded as no assay results are available yet.

We are waiting for the assay results of EK-09 and EK07 which is the last hole in-line with EK-01 at NW direction. As you can see below the KCl grade (38.75%) of 4.2m thick sylvinite layer is very high at EK-01.

Kola resource looks very good because of the high grade and thick layers below.

EK-01 .. 4.20 meter thick 38.75% KCl
EK-05 .. 3.08 meter thick 43.45% KCl
EK-04 .. 3.58 meter thick 39.27% KCl
EK-06 .. 4.50 meter thick 45.59% KCl

These grades and thicknesses are definitely world class. The good thing with all these high grade layers, they are more than 3m thick which is a very good for underground mining.

The high grade sylvinite layer from EK-05 goes to EK-04 and then to EK-06 by even getting thicker, from 3m to 3.58m then to 4.50m which makes it 2.2km far from the centre of EK-05 at SE direction.

So, only this part (SE) can be a small potash company maker. And it is open to south after EK-06, we don't know how far it is going to SE, South and SW. ELM needs to extend the drilling program to this direction.

Also, if ELM can get he same good results of EK-01 for EK-09 and EK07 (last hole), then they need to extend the drilling at this direction too.

What about if ELM uses K19 and K21 for resource estimation?
Btw, ELM is not giving the old assay results of the holes K19, K20 and K21 either. They should have them as they had the others (K18 and K6).

K20 is not important as it is at the border of license and I think there is big fault line between K20 and our drilling area.

Especially the K21 and K19 is very important for us. (see my graphic). They are nearly parallel to the direction of high grade layers of EK-05, 04 and 06. And the distance to the direction line of EK-05-04-06 is about 3.5 km from K21 and 2.5 km from K19.

I would think they might decide to use the old data on K21 and K19 for resource estimation but the old data is not very reliable, That was proved on EK-04 assay results ()in favour of the new drilling). The old data on K6 which EK-04 was twinned was 0.9m @20.5% K2O and 2m @ 22.2% K2O. I was not happy with that data. But the data from the EK-04 was outstanding; 4.53m @ 21.41% K2O (inc 3.58m @24.70% -high grade) and 5.42m @ 13.33 K2O. Totally irrelevant, but very good! However EK-01 twinned K-18 with very close (a bit thicker but a bit lower grade) assay results.

STB Resource Comparison

I am also giving the measured resource size of STB from their latest anns. (below) Maiden Resource estimation. As STB have no considerable amount of potash on the other holes, they have made their Maiden Res. Estimation only for 3 holes.

The ave. KCL of ELM is ~28% while STB's ave. grade is ~18%.

STB will also need to move an overburden of 59m on COL-001, 56m for COL-002B and 28m for COL-004. I am not sure if that would be possible for those low grades.

Their Measured Resource estimation is only 6.20 mt. This is half of the resource size in our 4 holes, and we have a lot more holes in the area.