PERTH, Australia, July 27, 2012 /CNW/ - Elemental Minerals Ltd. (ASX, TSX: ELM) ("Elemental" or "the Company") is pleased to announce the completion of the Phase 2B drill programme and that further assay results have been received from these boreholes at the Company's Kola potash deposit (Figure 1).
The results confirm that boreholes drilled through target depths intersected significant sylvinite mineralisation and have increased the Kola mineralisation footprint (Figure 2).
The additional data from the Phase 2B drill programme will be included in an updated Resource Estimate, scheduled for completion in early August.
- EK_39 intersected 3.68m at 21.94% K2O (34.75% KCl) from 286.82m (Upper Seam) and 5.14m at 17.93% K2O (28.39% KCl) from 293.49m (Lower Seam)
- EK_40 intersected 5.18m at 20.81% K2O (32.95% KCl) from 279.14m (Lower Seam)
- EK_41 intersected 5.95m at 20.29% K2O (32.13% KCl) from 319.85m (Footwall Seam)
- EK_42 intersected 4.31m at 23.43% K2O (37.11% KCl) from 287.40m (Upper Seam)
and 3.41m at 22.08% K2O (34.97% KCl) from 294.96m (Lower Seam)
- EK_44 intersected 3.85m at 20.24% K2O (32.05% KCl) from 231.65m (Lower Seam)
Drill hole details for the Phase 2B programme are presented in Table 1 and collar locations are illustrated in Figure 2.
The Phase 2B drill programme comprised nine holes (EK_37 to EK_45) for a total of 2,991.5 metres. Of these, five boreholes are reported here. Borehole EK_37 was drilled for geotechnical purposes and was stopped short of the potash seams. Results for borehole EK_38 were reported by the company on 22 June. EK_43 and EK_45 will be reported as soon as all assay results are returned from these boreholes.
The latest assay results confirm the extension of sylvinite mineralisation significantly beyond the limits of the May 2012 Mineral Resource estimate. The mineralisation remains open in all lateral directions and highlights the potential for continued expansion of the Kola potash deposit. Figures 3 and 4 show selected cross-sections through the deposit.
Table 1: All assay returns
|Hole||Zone||From (m)||To (m)||True Width (m)||% K2O||% KCl|
Commenting on these results Elemental's CEO, Iain Macpherson stated: "The completion of the Phase 2B resource expansion programme is an important step to finalising the inputs for the pre-feasibility study, scheduled for release in September 2012. Phase 2B results to date demonstrate that the Kola section of the Sintoukola licence remains open-ended in most directions and continues to highlight the exceptional scale of this deposit and potential for continued growth."
Table 2: Drill hole coordinates*
Sampling and Analyses
Drill core samples (PQ core diameter sizes) were split in half by a diamond saw cutting machine at the project site. The half split samples, each weighing about three to seven kilograms, were collected at an average interval of 0.3 to 1.0 metre. The samples were processed and analysed, utilizing routine international-standard QA/QC procedures by Genalysis, Perth, Australia. Potassium, Sodium, Calcium, Magnesium, Chlorine, and Sulphur were analysed by ICP-ES. One of the six elements analysed are reported here: potassium (K) and its molecular equivalent of Potassium oxide (K2O, by multiplication with a factor of 1.204). The detection limit for K is 0.001%.
About Elemental Minerals
Elemental Minerals Limited is an advanced mining exploration and development company that aims to grow shareholder value through its 93%-owned Sintoukola Potash Project on the Republic of Congo coastline. Elemental Minerals is dual listed on the Australian Stock Exchange and the Toronto Stock Exchange under the symbol ELM. For more information, visit www.elementalminerals.com
Mineral Resource Summary - Kola Deposit of Sintoukola Project1
- The Sintoukola Project's Kola deposit currently contains 959 Mt Measured and Indicated Mineral Resources with an average grade of 15.11% K2O (23.93% KCl), and 513 Mt Inferred Mineral Resources with an average grade of 15.33% K2O (24.27% KCl), at a 10.0% K2O cut-off grade.
- Within such Mineral Resources, the sylvinite portion of the deposit contains 413 Mt Measured and Indicated Mineral Resources with an average grade of 20.39% K2O (32.39% KCl), and 261 Mt Inferred Mineral Resources grading 19.16% K2O (30.33% KCl), at a 10.0% K2O cut-off grade.
- These resources are mostly within two seams, the Upper Seam and the Lower Seam, which are separated by a barren halite layer averaging three metres in thickness. The depth to the top of the Upper Seam is within 250 to 320 metres from surface. A small portion of the Inferred Resource is contained within the Footwall Seam which occurs approximately 45 metres below the level of the Lower Seam in certain areas of the deposit. The deposit is contained within 80 km2 of the current 1,436 km2 license area.
- Mineral Resources are reported in accordance with the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves 2004 Edition (The JORC Code), which is consistent with Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Definition Standards 2005 and hence complies with NI 43-101.
Competent Person / Qualified Person Statement:
Information in this report that relates to Exploration Results or Mineral Resources is based on information compiled by Dr. Simon Dorling and Mr. Jeff Elliott, of CSA Global Pty Ltd, the Company's geological consultants. Dr. Dorling and Mr. Elliott are members of the Australian Institute of Geoscientists (MAIG) and have sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity they are undertaking to qualify as Competent Persons as defined in the 2004 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves" (the JORC Code). Dr. Dorling and Mr. Elliott are also Qualified Persons for the purposes of Canadian National Instrument 43-101 and they consent to the inclusion in this report of the Information, in the form and context in which it appears.
Further information respecting Elemental's Sintoukola Project is contained in a technical report entitled ''NI 43-101 Technical Report, Sintoukola Potash Project, Republic of Congo'' prepared by Messrs. Simon Dorling, Jeff Elliott, and Andrew Scogings of CSA Global Pty Ltd. for the Company dated June 21, 2012 with an effective date of June 21, 2012 (the "Technical Report"). The Technical Report can be accessed on the Company's profile on SEDAR.
This news release contains statements that are "forward-looking". Generally, the words "expect," "potential", "intend," "estimate," "will" and similar expressions identify forward-looking statements. By their very nature, forward-looking statements are subject to known and unknown risks and uncertainties that may cause our actual results, performance or achievements to differ materially from those expressed or implied in any of our forward-looking statements, which are not guarantees of future performance. Statements in this news release regarding the Company's business or proposed business, which are not historical facts, are "forward looking" statements that involve risks and uncertainties, such as resource estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements.
Investors are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date they are made.
1 For a full description of the resource refer to the NI 43-101 Technical Report, dated 21 June 2012 available on SEDAR, www.sedar.com
Image with caption: "Figure 1: Location of Sintoukola Potash Permit and historic drill hole locations. (CNW Group/Elemental Minerals Limited)". Image available at: http://photos.newswire.ca/images/download/20120726_C3057_PHOTO_EN_16467.jpg
Image with caption: "Figure 2: Kola plan showing Phase 2B boreholes. (CNW Group/Elemental Minerals Limited)". Image available at: http://photos.newswire.ca/images/download/20120726_C3057_PHOTO_EN_16468.jpg
Image with caption: "Figure 3: Geological cross section showing EK_42. (CNW Group/Elemental Minerals Limited)". Image available at: http://photos.newswire.ca/images/download/20120726_C3057_PHOTO_EN_16469.jpg
Image with caption: "Figure 4: Geological cross section showing EK_44. (CNW Group/Elemental Minerals Limited)". Image available at: http://photos.newswire.ca/images/download/20120726_C3057_PHOTO_EN_16470.jpg
SOURCE: Elemental Minerals Limited
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