31st Jul 2015 09:47
LONDON (Alliance News) - Wildhorse Energy Ltd said Friday that drilling and other testwork is scheduled to begin at its Lake Wells Project in Western Australia in its current quarter.
The company acquired the project in June as part of Australia Salt Lake Potash Pty Ltd, as well as the Lake Ballard Project, also in Western Australia.
Exploration work at both projects has indicated the presence of highly concentrated brine resources for both projects, Wildhorse said, with elemental ratios highly suitable for commercial production of sulphate of potash and its by-products.
Samples tested to date from Lake Wells have an average potassium concentration of 5,220 milligrams per litre, the company said, which compares favourably with levels reported by other Australia and overseas salt lake sulphate of potash projects.
During the quarter to end-June Wildhorse completed a heritage clearance survey at Lake Wells, and got initial heritage clearance on completion of this survey. It will now undertake further drilling, pump testing, process testwork and evaporation trials to form an initial resource estimate and scoping study.
Shares in Wildhorse Energy were up 8.2% at 7.30 pence Friday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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