Kore Potash: Government approval to drill at DX Project

14th October 2020 | Kore Potash PLC

Government approval to drill at DX Project

Kore Potash plc, the potash development company with 97%-ownership of the Kola and DX Potash Projects in the Sintoukola Basin, is pleased to announce that it has received authorisation from the Government of the Republic of the Congo to commence the planned drilling programme for the Definitive Feasibility Study (“DFS”) for the Company’s DX Project (“DX”).

Highlights

  • Ministry of Tourism and Environment has authorised the environmental management plan for the DFS drilling on Kore’s DX Project
  • All Government approvals required for the planned DFS work programme now in place
  • A drilling programme consisting of the drilling and analysis of up to 5 new holes is planned to begin this month – these will improve confidence in the value of DX
  • A number of local and international consultants have been engaged to support the environmental and technical aspects of the DFS
  • SQM, a global scale lithium and potassium producer and one of Kore’s major shareholders, is providing technical support for key aspects of the DX DFS
  • Phase One of the DX DFS is planned for completion in May 2021

Background

The terms of reference of an Impact Notice for the environmental and social aspects of the planned DX drilling programme were submitted to the Director General of Tourism and Environment (“Director General”) on 17 September 2020.

These terms of reference were drafted following public participation meetings held with interested and affected parties.

Kore has received written authorisation from the Director General for the drilling of up to 5 additional drill holes in the Dougou permit area. This authorisation also confirms that the conditions of the Environmental Conformity Certificate for the Dougou permit area dated 31 March 2020, with a duration of 25 years, will continue to apply.

Drilling Programme

The Company is planning to drill up to 5 additional diamond drill holes within the DX Deposit which sits within the Dougou Permit area.

The drilling programme is designed to improve confidence in the Mineral Resources and Ore Reserves of the DX Deposit. The drill holes are designed to intersect the targeted potash seams approximately 400 metres below surface. The sylvinite seams at DX are at shallow depths compared to other potash deposits globally.

The drilling will be undertaken using drill rigs and equipment that the Company owns and that are on site at the Sintoukola camp.

Key personnel have been mobilised to site and the drilling programme remains on track for commencement of drilling before the end of October 2020.

Brad Sampson, Chief Executive of Kore Potash, said:

“We thank the Government of the Republic of the Congo, who continue to actively support the development of the Company’s projects in the Sintoukola basin, for reviewing this application and responding quickly, during what is a difficult period for all Governments globally.”

“We have seen improvements in the DX project as each phase of work has progressed, and we are excited to be moving forward with the DFS.”

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