Press release - 28 November 2011
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Chemical Assay Results
§ 22.1 metres (true-thickness) of high grade polyhalite across three beds
§ 15.1 metres (true-thickness) of assays received to date across the three high grade beds with average polyhalite grade of 95.7% including 5.83 metres of continuous +99.5% polyhalite
§ Grade and thickness of polyhalite in SM1 significantly exceeds previous JORC Exploration Targets and Preliminary Results
The Directors of Sirius Minerals Plc (AIM: SXX, OTCQX: SRUXY), the globally diversified potash development group, are pleased to announce chemical assay results of the first bore hole drilled at the York Potash Project.
Coring of SM1, the first new borehole in the York Potash Project, was completed on 26 October 2011. On 27 October 2011 preliminary results of the coring based on visual inspection were released, which were followed by a summary of the gamma-log results on 31 October 2011. Results from the first batch of chemical and mineralogical analysis of the three key target seams have now been received and are summarised in this announcement. Analysis of a second batch of samples is expected in the second week of December 2011.
Chris Fraser, Managing Director and CEO of Sirius said:
“These results are outstanding. The thickness and grade of the polyhalite seams has exceeded all previous expectations and analysis. While we await the second batch of assay results, what has been received to date indicates much thicker and higher grade material than expected. There have never been grades or thicknesses like this in any polyhalite deposit anywhere in the world, confirming the York Potash Project as one of the world’s most significant potash projects.
“The quality of these drill results, if repeated at our next holes, will result in a positive reassessment of a number of project concepts such as scale of production, bulk-mining methods, and processing routes. As a result we are looking for ways to accelerate development of the York Potash Project even faster to fulfil the Company’s goal of becoming a major potash producer even sooner.”
.
.
Chemical Assay Results
§ 22.1 metres (true-thickness) of high grade polyhalite across three beds
§ 15.1 metres (true-thickness) of assays received to date across the three high grade beds with average polyhalite grade of 95.7% including 5.83 metres of continuous +99.5% polyhalite
§ Grade and thickness of polyhalite in SM1 significantly exceeds previous JORC Exploration Targets and Preliminary Results
The Directors of Sirius Minerals Plc (AIM: SXX, OTCQX: SRUXY), the globally diversified potash development group, are pleased to announce chemical assay results of the first bore hole drilled at the York Potash Project.
Coring of SM1, the first new borehole in the York Potash Project, was completed on 26 October 2011. On 27 October 2011 preliminary results of the coring based on visual inspection were released, which were followed by a summary of the gamma-log results on 31 October 2011. Results from the first batch of chemical and mineralogical analysis of the three key target seams have now been received and are summarised in this announcement. Analysis of a second batch of samples is expected in the second week of December 2011.
Chris Fraser, Managing Director and CEO of Sirius said:
“These results are outstanding. The thickness and grade of the polyhalite seams has exceeded all previous expectations and analysis. While we await the second batch of assay results, what has been received to date indicates much thicker and higher grade material than expected. There have never been grades or thicknesses like this in any polyhalite deposit anywhere in the world, confirming the York Potash Project as one of the world’s most significant potash projects.
“The quality of these drill results, if repeated at our next holes, will result in a positive reassessment of a number of project concepts such as scale of production, bulk-mining methods, and processing routes. As a result we are looking for ways to accelerate development of the York Potash Project even faster to fulfil the Company’s goal of becoming a major potash producer even sooner.”
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