Kore Potash plc has released a statement providing an update on its 97%-owned Sintoukola potash project in the Republic of Congo.
The company was recently awarded the Sintoukola 2 exploration permit by the African nation’s government. The permit is held wholly by company’s 97% subsidiary, Sintoukola Potash S.A., and is valid for a three-year period. Once this period ends, it may be renewed twice, each time for an additional two-year period.
The permit covers 294 km2, and is strategically important to Kore Potash. This is because it covers the interpreted northward extension of the high grade Dougou extension project, essentially doubling the size of prospective area held.
Previously reported high grade sylvinite intersections at the Dougou extension prospect support the company’s belief that there is significant potential for exploration.
As reported, the definitive feasibility study (DFS) on the Kola project is continuing to progress well, with the design phase of DFS now essentially completed, and work commencing on finalising the construction costs. Kore Potash claims that the DFS is expected to be completed towards the end of 2Q18 or 3Q18, with the engineering, procurement and construction (EPC) contract being received three months later. The slight delay from the original intended DFS completion date is because of the decision by Kore Potash and the French Consortium to carry out further testing on the floatation area of the process plant in order to try to achieve greater levels of recovery than originally expected.
The CEO of Kore Potash, Sean Bennett, said: “The granting of the ‘Sintoukola 2’ Exploration Permit is exciting because it secures an additional large piece of ground for Kore Potash, which we believe may host extensions to the sylvinite we have intersected at our Dougou Extension Prospect immediately to the south. This has the potential to provide a substantial addition to our already large and high-grade Kola Deposit, where we are in the process of completing a Definitive Feasibility Study. We are grateful for the continuing support of the RoC government in awarding us this permit.”