- Australian Potash (APC) lodges tenement applications to expand the Lake Wells sulphate of potash (SOP) project in WA
- The application area, named “Lake Wells East”, will increase the existing Lake Wells project area by 175 per cent to roughly 1900 square kilometres
- Australian Potash says the project already holds the largest measured SOP resource in Australia and the new tenement package may potentially double the scale of Lake Wells
- Company shares are trading steady at 3.5 cents at market close
Australian Potash (APC) has lodged tenement applications to expand the Lake Wells sulphate of potash (SOP) project in Western Australia’s Eastern Goldfields.
The application area, named “Lake Wells East”, covers 1212 square kilometres and has an estimated exploration target of between 9.5 and 24 million tonnes of SOP.
Lake Wells East was previously held by ASX-listed company Salt Lake Potash (SO4) which announced a measured mineral resource estimate of 18.1 million tonnes of SOP at 7.59 kilograms per cubic metre contained within just 305 square kilometres of the granted mining leases.
If and when granted, Lake Wells East will increase the total Lake Wells SOP project area by 175 per cent to 1905 square kilometres.
“The LSOP already holds the largest Australian measured SOP resource of over 18 million tonnes,” APC Managing Director and CEO Matt Shackleton said.
“We have taken the opportunity to potentially more than double the scale of the Lake Wells project at minimal cost to our shareholders.
“There is potential for Lake Wells to become the largest shovel ready solar SOP project on the planet.”
Australian Potash’s primary focus is to develop the Lake Wells SOP project but plans to conduct a definitive feasibility study on a combined, larger, expansion operation within three years.
Company shares were trading steady at 3.5 cents at market close.