HIGHLIGHTS
Lake Wells Potash Project
• Exploration Target released:
o 79 – 123 million tonnes total in-situ Sulphate of Potash at a grade
range of 11,400 – 13,900 mg/l (for industry comparison purposes only)
o Using SPECIFIC YIELD to model the recoverable amount of SOP in
compliance with NI43-101, the exploration target becomes
6 – 37 million tonnes Sulphate of Potash at a grade range of
between 8,900 mg/l – 13,900 mg/l
• Based on Goldphyre’s strategic goal of becoming a 75kT – 100kT per year
SOP producer, this represents a significant long mine life for the Lake
Wells Potash Project
• Second seismic survey conducted across expanded Project area
encompassing the neighbouring Mark Creasy-controlled Lake Wells
Exploration Pty Ltd ground doubles the size of the deep palaeovalley
hosting the brine potash: further survey results pending
• Drilling program at Lake Wells intersects thicker than expected basal
and upper sand layers: sand is significant for a palaeochannel pumping
operation as it is highly permeable
• Goldphyre fully funded for resource estimation work program after
raising $1.1m in heavily oversubscribed placement
Plenty of good stuff happened in the quarter too!
It could end up being a very big resource that could be mined for years and years as especially Creasy has now joined the party with his land.
Very happy with what's going on and what's to come.
APC Price at posting:
9.2¢ Sentiment: Buy Disclosure: Held
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