5th Jun 2014 11:26
LONDON (Alliance News) - African Potash Ltd Thursday said it has identified four highly prospective drill targets at its flagship Lac Dinga Potash Exploration Project in the Republic of Congo.
The AIM-listed exploration company focused on sub-Saharan potash assets is preparing to commence its maiden drilling programme, with drilling on track to commence in the third quarter of this year and two holes scheduled to be drilled by September 2014.
African Potash said the drilling programme will include two vertical rotary/diamond drill holes for a total of about 1,000 metres. The objective for the drilling programme is to test the interpreted prospective salt sequence for the development of high-grade sylvinte horizons within the basin-wide carnallite layer.
"The Congo Basin is underlain by an extensive evaporate sequence, which is the repository for potentially vast potash mineralisation as indicated by historical, basin-wide exploration drilling. With a defined exploration programme in place to advance the Project we look forward to the outcomes of this upcoming drill programme," said Chief Executive Edward Marlow in a statement.
African Potash acquired approximately 415 line kilometres of high quality 2D oil industry seismic data in March, that covered an area of approximately 470 square kilometres. The acquisition of this new data allowed the company to commission a structural geological and drilling target delineation study over the project area, the company said.
African Potash shares were down 5.0% at 2.97 pence before midday Thursday.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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