22nd Feb 2016 08:29
LONDON (Alliance News) - Salt Lake Potash Ltd on Monday said the mineral resource estimate for the Lake Wells project in Western Australia has been more than doubled.
Salt Lake said the mineral resource estimate for the project has risen to 80 million to 85 million tonnes of sulphate of potash, adding another 51 million to 56 million tonnes to the original estimate for the project.
The brine chemistry on the site is very strong, the company said, and further drilling on the project is being undertaken to try to further improve the model for the project.
Shares in the company were up 33% to 17.90 pence on the news.
By Sam Unsted; [email protected]; @SamUAtAlliance
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