South Boulder Confirms 1.1 Bt Maiden Ore Reserve for Colluli

Industrial Minerals News

Source: ASX Announcement

Summary:

  • The first potassium salt ore reserve estimate for Colluli has been released:
    • 1.1 Bt @ 10%K2O equivalent, which is made up of 287 Mt Proved reserve, and 820 Mt Probable
  • A ‘resource’ is already known for this site, with 85% of it being converted to a reserve (higher certainty)
  • The Colluli project has an estimate 200 year mine life producing sulphate of potash, but is also capable of producing potassium magnesium sulphate and potassium chloride (Muriate of Potash)
  • Mining at Colluli is proposed to be open pit
  • A long term price of $586 per tonne FOB at Anfile Bay (Eritrea) was used for the Ore Reserve estimate

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