- South Harz Potash (SHP) unearths up to 14.4 per cent potassium oxide at its Ohmgebirge Mining Licence area of its South Harz Potash Project in Germany
- The company says the assay results display excellent correlation with a nearby historical drillhole, which was drilled over a century ago
- Work is now progressing on a second drillhole, which aims to fully penetrate the known potash horizon in the area down to a depth of 813 metres
- Meanwhile, the expected timing for the mineral resource estimate update is now early in Q3 2022
- South Harz Potash is up 8.82 per cent, trading at 18.5 cents at 10:50am AEST
South Harz Potash (SHP) has unearthed up to 14.4 per cent potassium oxide at its Ohmgebirge mining licence area of its South Harz potash project in Germany.
One recently drilled confirmatory drillhole, OHM-02, located 148 metres west of historical drilling, intercepted the top of the potash horizon from 651.53 metres, down to a depth of 662.51 metres. The total apparent thickness of this intercept was 10.98 metres with an interpreted true thickness of 7.51 metres.
A comprehensive assay analysis identified three distinct mineralised potash horizons comprising a Kieseritic, Anhydritic and Carnallitic Sylvinite Hartsalz – a common potash zone found in an adjacent historical mine of the South Harz Potash district.
South Harz Managing Director, Dr Chris Gilchrist said the assay results showed excellent correlation with a nearby historical drillhole, which was drilled over a century ago.
“This further substantiates our confidence in the accuracy of the 41 drillholes in the Ohmgebirge project area, and indeed the 300 drillholes which we acquired as part of our suite of perpetual mining licences,” said Dr Chris Gilchrist.
Work is now progressing on a second drillhole where the objective is to fully penetrate the known potash horizon in the area down to a depth of 813 metres.
The target for completion of this drillhole has been extended to the second week of May due to some early technical issues in the upper limestone horizons, which have since been overcome.
Drilling and assay of core from these two confirmatory drillholes is intended to allow South Harz to upgrade a substantial proportion of the current Ohmgebirge JORC 2012 Inferred mineral resource estimate to the Indicated category.
“We are now looking forward to incorporating these results, along with those from the second hole, into an updated mineral resource estimate, and completion of a scoping study, on our inaugural Ohmgebirge asset,” said Dr Gilchrist.
The company is ending the quarter with a cash balance of $10.2 million at 31 March 2022.
South Harz Potash was up 8.82 per cent, trading at 18.5 cents at 10:50 am AEST.