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Elemental Minerals Limited (ELM)
is a publicly listed company on the Australian Securities Exchange (ASX).
About Elemental Minerals Limited
Elemental Minerals Limited (ASX: ELM) is an advanced stage mineral exploration and development company whose primary asset is the 97%-owned Sintoukola Potash Project in the Republic of Congo. ELM completed an advanced Pre-Feasibility Study (PFS) on its Kola Project in September 2012, which defined Proven and Probable Reserves of 152 Mt of sylvinite ore with an average grade of 31.7% KCl. A Mining License and ESIA approval for Kola were granted in August 2013. The PFS has recently been updated by The Phased Implementation Study which has reduced the initial capital requirement for the project significantly while maintaining low operating costs. The Company plans to commence its Definitive Feasibility Study (DFS) during 2015.
The Sintoukola Exploration licence (1408 square kilometres) includes the recently announced Dougou carnallite Deposit (1.29 billion tonnes grading 21.7 % KCl) situated 15 kilometres southwest of Kola, and the Yangala sylvinite Prospect to the west of Dougou. At Yangala the Company has drilled two boreholes, both intersecting a seam of over 4m grading between 57 and 60% KCl. In addition, 40km of strike to the northern boundary of the exploration licence is equally prospective based on interpretation of oil-industry seismic data. The Sintoukola Project has the potential to be among the world's lowest-cost potash producers and its strategic location near the Congolese coast of Central West Africa offers a transport cost advantage to key Brazilian and Asian fertilizer markets. Elemental's management team has a record of bringing quality African mineral projects to production.
ELM's Objectives are to:
- Maximise shareholder value by developing the Sintoukola Potash Project in the Republic of Congo.
- Operate at all times with a high social, environmental and ethical awareness.
Sintoukola Potash Project
Potash mineralisation was discovered in the ROC in the 1950's and 1960s. Elemental used available historical data to direct exploration campaigns, leading to the discovery of two major deposits, Kola and Dougou and the identification of a third prospect, Yangala. The flagship Kola project is set to commence the Feasibility Study in 2015, with first production expected in 2019.
The current deposit footprint covers 90km2 of the 1,436km2 of the permit area. SRK Denver are the appointed lead consultants on the project with a Definitive Feasibility Study planned for completion in Q1 2013 with ramp up to production in 2015.
Mineral Resource Estimate at 15% K2O Cut-Off Grade
The deposit lies within the Congo Basin located on the west African sea board and stretches from Gabon in the north through the Republic of Congo to Angola in the south. The Congo Basin was formed during the breakup of Gondwana Land which resulted in the separation of the African continent from that of south America. The Congo Basin formed during this process and was filled with approximately 900m of evaporitic sediments in a shallow marine environment. This sequence of evaporites contains both carnallite and sylvinite formations the latter of which is the target mineralisation for the project.
Exploration activities by a French exploration company (FRCP) in the 1960's and 70's identified several Sylvinite and Caranallite prospects which are contained within a 1,436 sq km exploration license held by Sintoukola Potash S.A. Sintoukola Potash is a ROC registered company whose major shareholder and operator is Elemental Minerals Limited with a shareholding of 93%, the remaining shareholders are Les Establissements Congolais MGM (5%) and Tanaka Resources (Proprietary) Ltd. (2%).
The updated resource follows on from the Company's maiden Mineral Resource statement released in April 2011 that resulted from Phase 1 exploration at Kola. Having set out an Exploration Target of 170 million tonnes to 300 million tonnes of sylvinite grading at between 23.1% and 23.5% K2O, the Company released a sylvinitre Mineral Resource in the indicated resource of 362 million tonnes and an inferred resource of 442 million tonnes, both grading at 19.6% K2O. Significantly, within that Mineral Resource the Company defined a high grade zone containing an indicated Mineral Resource of 151 million tonnes and an inferred Mineral Resource of 186 million tonnes, both grading at 25% K2O, which is approximately 40% KCl. The Phase 1 footprint was 28 km2 of the 1,436 km2 permit area.
Elemental Minerals Limited
14 Emerald Terrace
West Perth, WA
+61 8 9322 2700
Fax: +61 8 9322 7211
The General Overview, Services, Products and Projects information for this profile was last edited on 04 Feb 2016.