SO4 says scoping study confirms Lake Wells' potential
Source - SMW
Salt Lake Potash has issued the results of a Scoping Study on its Lake Wells Sulphate of Potash (SOP) Project in Western Australia.
The Project's economics are highly encouraging, highlighting its potential to produce low cost SOP by solar evaporation of lake brines for domestic and international fertiliser markets.
- The Scoping Study (accuracy +/-30%) prepared by global engineering firm, Amec Foster Wheeler, and other international experts, demonstrates excellent project fundamentals based on well-established solar evaporation and salt processing techniques. Based on the positive results of the Scoping Study, the Company will now proceed to a Pre-Feasibility Study (PFS).
- Lake Wells has the potential to be one of only five large scale salt lake SOP producers around the world and the Project's estimated cash production costs of A$185 per tonne (Stage 2) would be amongst the lowest in the world.
- The Scoping Study is based on a two stage development plan for Lake Wells: a.) Stage 1 is based on shallow trenching and bore production with 100% of brine feed drawn from the near surface Measured Resource; b.) Stage 2 also includes pumping additional brine from the deeper Inferred Resource, to increase production to 400,000 tpa of SOP.