Salt Lake Potash Limited Lake Way Paleochannel Bore Pumping Results

Data : 21/05/2020 @ 09:30
Fonte : UK Regulatory (RNS & others)
Titolo : Salt Lake Potash Limited (SO4)
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Salt Lake Potash Limited Lake Way Paleochannel Bore Pumping Results

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TIDMSO4

RNS Number : 6028N

Salt Lake Potash Limited

21 May 2020

 
 21 May 2020   AIM/ASX Code: SO4 
 
 
 SALT LAKE POTASH LIMITED 
------------------------- 
 

PALEOCHANNEL BORE EXHIBITS STRONG FLOW RATES AND HIGH GRADES

Salt Lake Potash Limited (SO4 or the Company) is pleased to announce positive results from the pumping of its paleochannel brine extraction bore at Lake Way.

HIGHLIGHTS

-- Pumping of the initial brine extraction bore drilled into the Lake Way paleochannel delivered flow rates of 18 litres per second with a consistent Potassium grade of 7,100mg per litre (15.9kg/m(3) SOP), sustained over a 17 day period.

-- The results are significantly above average flow rates used in the Bankable Feasibility Study (BFS) announced 11 October 2019 of 8.4 litres per second (per bore) and average interpolated brine grades within the paleochannel of 6,100mg per litre (13.7kg/m(3) SOP).

-- Drawdown of brine observed in monitoring bores located next to the pumping bore aligned with hydrogeological assumptions used in the BFS.

-- The response to pumping observed in a monitoring bore 1.6 km away indicates continuity of the aquifer, whilst brine samples also indicate a consistent grade within this zone of the paleochannel.

-- Two additional brine extraction bores have been completed along the paleochannel with pumping expected to commence in the near term. In each case the primary basal sand aquifer was encountered in line with our geological model prediction.

TONY SWIERICZUK, Chief Executive Officer

"Strong results from pumping our first brine abstraction bore validates work undertaken as part of the BFS and highlights the value of the paleochannel resource which will be a significant contributor of brine supply to our ponds over the life of the project."

paleochannel drilling

In April SO4 commenced drilling its first brine extraction bore into the paleochannel basal sands at Lake Way.

The bore was located at Pad 17 with two monitoring bores also drilled adjacent. Test pumping was sustained over a 17 day period.

During the test pumping, brine samples were taken every 24 hours. Potassium and Sulphate grades were consistent throughout, averaging 7,100mg per litre and 29,700mg per litre respectively (15.9kg/m(3) SOP) . The 17 day duration of the test and constant pumping rate of 18 litres per second was sufficient to stress the aquifer and to model the longterm aquifer response to pumping.

Brine levels were measured in all three bores at Pad 17 and also in a monitoring bore at Pad 21 approximately 1.6km to the North.

Drawdown observed in the monitoring bores located at Pad 17 demonstrated that brine flow is sourced from lateral flow within the basal sand aquifer as well as from downward vertical leakage from the overlying paleovalley clays. This is consistent with modelling assumptions set out in the BFS.

Furthermore, drawdown was observed in the monitoring bore at Pad 21, indicating a strong continuity of flow and grade within this zone of the paleochannel. A brine sample taken from the monitoring bore at Pad 21 reported a grade of 7,230mg per litre Potassium (16.2kg/m(3) ) and 29,500 mg per litre Sulphate, consistent with that seen at Pad 17.

In the months ahead SO4 will drill and test pump further brine extraction bores along the Eastern side of Lake Way. During May bores have been completed at Pads 8 and 21, with test pumping expected to be completed in the near term. In each case the primary basal sand aquifer was encountered in line with our geological model prediction.

 
        Bore Name           Drilled    Casing      Intersected       Modelled      Easting   Northing   Elevation 
                             Depth     Diameter    and Screened    Sand interval                          (mahd) 
                              (m)        (mm)        Interval 
                                                      (mbgl) 
-------------------------  --------  ----------  --------------  ---------------  --------  ---------  ---------- 
                                                                      92.5 - 
 Pad 17: Pumping              113        255      94.4 - 112.4          111        239817    7040119       491 
-------------------------  --------  ----------  --------------  ---------------  --------  ---------  ---------- 
                                                                      92.5 - 
 Pad 17: Deep Monitoring      115        153        95 - 113            111        239804    7040107       491 
-------------------------  --------  ----------  --------------  ---------------  --------  ---------  ---------- 
 Pad 17: Shallow                                                      92.5 - 
  Monitoring                  72         50        66.2 - 72.2          111        239812    7040119       491 
-------------------------  --------  ----------  --------------  ---------------  --------  ---------  ---------- 
                                                                      90.5 - 
 Pad 21: Deep Monitoring      114        255        93 - 111            109        238761    7041336       493 
-------------------------  --------  ----------  --------------  ---------------  --------  ---------  ---------- 
 Pad 8: Deep Monitoring       114        153        99 - 111         88 - 104      251766    7028264       492 
-------------------------  --------  ----------  --------------  ---------------  --------  ---------  ---------- 
 

Note: Drilled depth equates to end of hole and all holes are vertical.

Table 1: Paleochannel drilling summary

For further information or to view a full version of this announcement, please visit www.so4.com.au or contact:

 
 Tony Swiericzuk / Richard Knights               Salt Lake Potash Limited                    Tel: +61 8 6559 5800 
 Colin Aaronson / Richard Tonthat / Seamus       Grant Thornton UK LLP (Nominated Adviser)   Tel: +44 (0) 20 7383 5100 
 Fricker 
 Derrick Lee / Peter Lynch                       Cenkos Securities plc (Joint Broker)        Tel: +44 (0) 131 220 6939 
 Rupert Fane / Ernest Bell                       Hannam & Partners (Joint Broker)            Tel: +44 (0) 20 7907 8500 
 

This announcement has been authorised for release by the Company's Managing Director, Mr Tony Swiericzuk.

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

Appendix A - Competent Person Statement and Disclaimer

Competent Persons Statement

The information in this announcement that relates to Exploration Results for Lake Way is based on, and fairly represents, information compiled by Mr Ben Jeuken, who is a member of the Australasian Institute of Mining and Metallurgy and a member of the International Association of Hydrogeologists. Mr Jeuken is employed by Groundwater Science Pty Ltd, an independent consulting company. Mr Jeuken has sufficient experience, which is relevant to the style of mineralisation and type of deposit under consideration and to the activity, which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Jeuken consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Forward Looking Statements

This announcement may include forward-looking statements. These forward-looking statements are based on Salt Lake Potash's expectations and beliefs concerning future events. Forward looking statements are necessarily subject to risks, uncertainties and other factors, many of which are outside the control of Salt Lake Potash, which could cause actual results to differ materially from such statements. Salt Lake Potash makes no undertaking to subsequently update or revise the forward-looking statements made in this announcement, to reflect the circumstances or events after the date of that announcement.

APPIX B - JORC CODE, 2012 EDITION - TABLE 1

Section 1 - Sampling Techniques and Data

 
 Criteria                     JORC Code explanation                                          Commentary 
 Sampling techniques                                                                         Drill cuttings were 
                               *    Nature and quality of sampling (e.g. cut channels,       sampled every 2m. The mud 
                                    random chips, or specific specialised industry           rotary method used means 
                                    standard measurement tools appropriate to the            that the samples are 
                                    minerals under investigation, such as downhole gamma     only considered 
                                    sondes, or handheld XRF instruments, etc.). These        representative of the 
                                    examples should not be taken as limiting the broad       geology which is 
                                    meaning of sampling.                                     sufficient for the 
                                                                                             purposes of planning 
                                                                                             the construction of the 
                               *    Include reference to measures taken to ensure sample     brine pumping bore in 
                                    presentively and the appropriate calibration of any      this instance. 
                                    measurement tools or systems used. 
                                                                                             A brine sample and 
                                                                                             duplicate were taken from 
                               *    Aspects of the determination of mineralisation that      every bore after 
                                    are Material to the Public Report.                       development. Brine 
                                                                                             samples and 
                                                                                             duplicates were taken 
                               *    In cases where 'industry standard' work has been done,   from the pumping bore at 
                                    this would be relatively simple (e.g. 'reverse           1 hour after pumping 
                                    circulation drilling was used to obtain 1 m samples      commenced, 24 hours after 
                                    from which 3 kg was pulverised to produce a 30 g         pumping commenced and 
                                    charge for fire assay'). In other cases, more            every 24 hours for the 
                                    explanation may be required, such as where there is      remainder of the test 
                                    coarse gold that has inherent sampling problems.         duration. 
                                    Unusual commodities or mineralisation types (e.g. 
                                    submarine nodules) may warrant disclosure of detailed    Samples were taken 
                                    information.                                             manually from a sampling 
                                                                                             valve on the side of the 
                                                                                             pump headworks. Prior 
                                                                                             to taking the sample the 
                                                                                             bottle was rinsed with 
                                                                                             brine from the pumping 
                                                                                             bore. 
                                                                                             Samples were analysed for 
                                                                                             K, Mg, Ca, Na, Cl, SO(4) 
                                                                                             , HCO(3) , NO(3) , pH, 
                                                                                             TDS and specific 
                                                                                             gravity. 
 
                                                                                             Test pumping entailed 
                                                                                             pumping from 90m below 
                                                                                             ground level (4m above 
                                                                                             the top of the screens) 
                                                                                             using a submersible 
                                                                                             electric pump. 
 
                                                                                             Water levels in the 
                                                                                             pumping bore and 
                                                                                             monitoring bores were 
                                                                                             measured manually and by 
                                                                                             pressure 
                                                                                             transducers with 
                                                                                             barometric pressure and 
                                                                                             brine density correction. 
                             -------------------------------------------------------------  -------------------------- 
 Drilling techniques                                                                         Mud rotary drilling was 
                                *    Drill type (e.g. core, reverse circulation, open-hole   used in all cases. The 
                                     hammer, rotary air blast, auger, Bangka, sonic, etc.)   pumping bore at Pad 17 
                                     and details (e.g. core diameter, triple or standard     and the monitoring bore 
                                     tube, depth of diamond tails, face-sampling bit or      at Pad 21 were drilled to 
                                     other type, whether core is oriented and if so, by      113m - 114m depth at 15" 
                                     what method, etc.).                                     diameter and completed 
                                                                                             with 10" PVC casing 
                                                                                             and wire wrap screens. 
                                                                                             18m of screen were placed 
                                                                                             in the Pad 17 bore from 
                                                                                             94.5mbgl to 112.5mbgl 
                                                                                             and in the Pad 21 bore 
                                                                                             from 93 - 111mbgl. The 
                                                                                             annulus was gravel packed 
                                                                                             with 1.6 - 3.2mm washed 
                                                                                             gravel from total depth 
                                                                                             to 10m above the screens 
                                                                                             a cement plug was 
                                                                                             installed from 74mbgl to 
                                                                                             84mbgl and the bore 
                                                                                             backfilled with gravel to 
                                                                                             surface where a 6m 
                                                                                             sanitary cement seal was 
                                                                                             emplaced.. 
 
                                                                                             The deep monitoring bores 
                                                                                             at Pads 17 and 8 were 
                                                                                             drilled to 114m - 115m 
                                                                                             depth at a diameter 
                                                                                             of 9 7/8" and cased with 
                                                                                             6" slotted and blank PVC, 
                                                                                             the bore was gravel 
                                                                                             packed to the surface 
                                                                                             using 1.6 - 3.2mm washed 
                                                                                             gravel. A 6 m sanitary 
                                                                                             cement seal was emplaced 
                                                                                             at the surface. 
 
                                                                                             The clay monitoring bore 
                                                                                             was drilled to 73.5mbgl 
                                                                                             to a diameter of 6". It 
                                                                                             was completed with 
                                                                                             6m of 50mm PVC screen at 
                                                                                             the base (66.2mbgl to 
                                                                                             72.2mbgl) - and blank 
                                                                                             50mm PVC to surface. 
                                                                                             The bore was gravel 
                                                                                             packed with 1.6 - 3.2mm 
                                                                                             washed gravel and a neat 
                                                                                             cement seal with 5% 
                                                                                             bentonite 
                                                                                             was installed via tremmie 
                                                                                             between 52 and 62m. 
 
                                                                                             All bores were developed 
                                                                                             using airlift techniques 
                                                                                             including surging until 
                                                                                             the discharge was 
                                                                                             clear of drill muds and 
                                                                                             sand . 
                             -------------------------------------------------------------  -------------------------- 
 Drill sample recovery                                                                       Drill cutting were 
                                *    Method of recording and assessing core and chip         collected at the top of 
                                     sample recoveries and results assessed.                 the hole using a sieve 
                                                                                             every 2m. Chip trays were 
                                                                                             also completed for future 
                                *    Measures taken to maximise sample recovery and ensure   reference. 
                                     representative nature of the samples. 
                                                                                             The sample provides an 
                                                                                             indication of the 
                                *    Whether a relationship exists between sample recovery   lithology only. There is 
                                     and grade and whether sample bias may have occurred     not a relationship 
                                     due to preferential loss/gain of fine/coarse            between 
                                     material.                                               the geology and brine 
                                                                                             grade. 
 
                                                                                             Flow and grade cannot be 
                                                                                             sampled during drilling 
                                                                                             when the mud rotary 
                                                                                             method is used. 
                             -------------------------------------------------------------  -------------------------- 
 Logging                                                                                     The geological logging is 
                                *    Whether core and chip samples have been geologically    sufficient for the 
                                     and geotechnically logged to a level of detail to       purposes of identifying 
                                     support appropriate Mineral Resource estimation,        variations in sand/ clay 
                                     mining studies and metallurgical studies.               and silt fraction within 
                                                                                             the paleochannel 
                                                                                             lithology. 
                                *    Whether logging is qualitative or quantitative in 
                                     nature. Core (or costean, channel, etc.) photography.   For a brine abstraction 
                                                                                             project, the key 
                                                                                             parameters are the 
                                *    The total length and percentage of the relevant         hydraulic conductivity 
                                     intersections logged.                                   and storativity 
                                                                                             of the host rock, which 
                                                                                             will be determined during 
                                                                                             test pumping of the 
                                                                                             trenches. 
 
                                                                                             The logging is 
                                                                                             qualitative. 
 
                                                                                             The entire bore depth was 
                                                                                             logged in every case. 
                             -------------------------------------------------------------  -------------------------- 
 Sub-sampling techniques                                                                     Not applicable, mud 
 and sample preparation         *    If core, whether cut or sawn and whether quarter,       rotary drilling. 
                                     half or all core taken. 
                                                                                             Not applicable, cutting 
                                                                                             sampled at the borehead 
                                *    If non-core, whether riffled, tube sampled, rotary      only. 
                                     split, etc. and whether sampled wet or dry. 
                                                                                             The brine samples were 
                                                                                             taken after airlift 
                                *    For all sample types, the nature, quality and           development when each 
                                     appropriateness of the sample preparation technique.    bore was clear of 
                                                                                             drilling 
                                                                                             mud and residual sand. 
                                *    Quality control procedures adopted for all 
                                     sub-sampling stages to maximise representivity of       Brine samples and 
                                     samples.                                                duplicates were taken 
                                                                                             during the test pumping 
                                                                                             at approximately 11am 
                                *    Measures taken to ensure that the sampling is           each 
                                     representative of the insitu material collected,        day of the test pump in 
                                     including for instance results for field                order to identify any 
                                     duplicate/second-half sampling.                         variation in brine grade 
                                                                                             during the test pump 
                                                                                             duration. 
                                *    Whether sample sizes are appropriate to the grain 
                                     size of the material being sampled.                     All the samples taken 
                                                                                             were incorporated into a 
                                                                                             rigorous QA / QC program 
                                                                                             in which Standards 
                                                                                             and Duplicates were 
                                                                                             taken. The samples were 
                                                                                             taken in sterile plastic 
                                                                                             bottles of 125ml or 250ml 
                                                                                             capacity. The samples 
                                                                                             were labelled with the 
                                                                                             alphanumeric code Y20001, 
                                                                                             Y80002 ...etc. 
                             -------------------------------------------------------------  -------------------------- 
 Quality of assay data and                                                                   The brine samples were 
 laboratory tests               *    The nature, quality and appropriateness of the          sent to Bureau Veritas 
                                     assaying and laboratory procedures used and whether     Laboratories in Perth, WA 
                                     the technique is considered partial or total.           with the duplicates 
                                                                                             being held by SO4. Every 
                                                                                             10th duplicate was sent 
                                *    For geophysical tools, spectrometers, handheld XRF      to Intertek, an alternate 
                                     instruments, etc., the parameters used in determining   laboratory for 
                                     the analysis including instrument make and model,       comparison purposes. 
                                     reading times, calibrations factors applied and their 
                                     derivation, etc.                                        No analysis was 
                                                                                             undertaken with 
                                                                                             geophysical tools. 
                                *    Nature of quality control procedures adopted (e.g. 
                                     standards, blanks, duplicates, external laboratory      QA/ QC procedures are 
                                     checks) and whether acceptable levels of accuracy       considered acceptable for 
                                     (i.e. lack of bias) and precision have been             this type exploration and 
                                     established.                                            sampling. 
                             -------------------------------------------------------------  -------------------------- 
 Verification of sampling                                                                    Not applicable for brine 
 and assaying                   *    The verification of significant intersections by        sampling. 
                                     either independent or alternative company personnel. 
                                                                                             Not applicable, however 
                                                                                             monitoring bores have 
                                *    The use of twinned holes.                               been drilled to measure 
                                                                                             changes in water levels 
                                                                                             during test pumping. 
                                *    Documentation of primary data, data entry procedures, 
                                     data verification, data storage (physical and           All sampling and assaying 
                                     electronic) protocols.                                  is well documented and 
                                                                                             contained on SO4's 
                                                                                             internal database. 
                                *    Discuss any adjustment to assay data. 
                                                                                             No adjustments have been 
                                                                                             made to assay data. 
                             -------------------------------------------------------------  -------------------------- 
 Location of data points                                                                     All coordinates were 
                                *    Accuracy and quality of surveys used to locate drill    collected by handheld 
                                     holes (collar and down-hole surveys), trenches, mine    GPS. 
                                     workings and other locations used in Mineral Resource 
                                     estimation.                                             The grid system is the 
                                                                                             Australian National Grid 
                                                                                             Zone MGA 51 (GDA 94). 
                                *    Specification of the grid system used. 
                                                                                             There is no specific 
                                                                                             topographic control as 
                                *    Quality and adequacy of topographic control.            the depth of the hole is 
                                                                                             determined by the 
                                                                                             intersection 
                                                                                             of the target horizon and 
                                                                                             the end of the hole by 
                                                                                             the basement contact. 
                             -------------------------------------------------------------  -------------------------- 
 Data spacing and                                                                            The results provided 
 distribution                   *    Data spacing for reporting of Exploration Results.      represent a single point. 
                                                                                             However, when this data 
                                                                                             point is incorporated 
                                *    Whether the data spacing and distribution is            with previous resource 
                                     sufficient to establish the degree of geological and    declarations it confirms 
                                     grade continuity appropriate for the Mineral Resource   previous assumptions and 
                                     and Ore Reserve estimation procedure(s) and             results. 
                                     classifications applied. 
                                                                                             The data spacing and 
                                                                                             degree of grade 
                                *    Whether sample compositing has been applied.            continuity is not 
                                                                                             sufficient to upgrade the 
                                                                                             current resource 
                                                                                             estimate, however it does 
                                                                                             confirm the current 
                                                                                             estimate. 
 
                                                                                             Sample compositing not 
                                                                                             applicable . 
                             -------------------------------------------------------------  -------------------------- 
 Orientation of data in                                                                      The target aquifers are 
 relation to geological         *    Whether the orientation of sampling achieves unbiased   contained within 
 structure                           sampling of possible structures and the extent to       paleovalleys incised into 
                                     which this is known, considering the deposit type.      the granitic or 
                                                                                             greenstone 
                                                                                             basement. There are no 
                                *    If the relationship between the drilling orientation    structural controls that 
                                     and the orientation of key mineralised structures is    impact brine flow within 
                                     considered to have introduced a sampling bias, this     the basal sand aquifer. 
                                     should be assessed and reported if material. 
                                                                                             Geological influence on 
                                                                                             the brine is limited to 
                                                                                             the aquifer parameters of 
                                                                                             the host rock, namely 
                                                                                             the hydraulic 
                                                                                             conductivity, total 
                                                                                             porosity and storativity. 
                             -------------------------------------------------------------  -------------------------- 
 Sample security                                                                             SO4 field geologists were 
                                *    The measures taken to ensure sample security.           responsible for bagging 
                                                                                             and tagging brine samples 
                                                                                             prior to shipping 
                                                                                             to the BV lab in Perth 
                                                                                             and the SO4 offices. The 
                                                                                             security measures for the 
                                                                                             material and type 
                                                                                             of sampling at hand was 
                                                                                             appropriate. 
                             -------------------------------------------------------------  -------------------------- 
 Audits or reviews                                                                           No audits or reviews of 
                                *    The results of any audits or reviews of sampling        sampling techniques and 
                                     techniques and data.                                    data have been 
                                                                                             undertaken. 
                             -------------------------------------------------------------  -------------------------- 
 

Section 2 - Reporting of Exploration Results

 
          Criteria                               JORC Code explanation                      Commentary 
 Mineral tenement and land                                                                  Bore Pads 17, 21 and 8 are 
 tenure status                  *    Type, reference name/number, location and ownership    on E53/1878. 
                                     including agreements or material issues with third 
                                     parties such as joint ventures, partnerships,          All tenure is granted to 
                                     overriding royalties, native title interests,          Piper Preston Pty Ltd, a 
                                     historical sites, wilderness or national park and      wholly owned subsidiary of 
                                     environmental settings.                                Salt Lake Potash 
                                                                                            Limited. 
 
                                *    The security of the tenure held at the time of 
                                     reporting along with any known impediments to 
                                     obtaining a licence to operate in the area. 
                             ------------------------------------------------------------  --------------------------- 
 Exploration done by other                                                                  There has been significant 
 parties                        *    Acknowledgment and appraisal of exploration by other   mineral exploration on and 
                                     parties.                                               around Lake Way. The 
                                                                                            primary source 
                                                                                            for the information is the 
                                                                                            publicly available Western 
                                                                                            Australian Mineral 
                                                                                            Exploration (WAMEX) 
                                                                                            report data base. 
 
                                                                                            The majority of previous 
                                                                                            work has been concerned 
                                                                                            with investigating the 
                                                                                            bedrock and calcrete 
                                                                                            for gold and uranium, and 
                                                                                            it is of limited value in 
                                                                                            defining the stratigraphy 
                                                                                            of the lakebed 
                                                                                            sediments. The data has 
                                                                                            been shown to be useful in 
                                                                                            the determination of the 
                                                                                            top of the paleochannel 
                                                                                            basal sand and for the 
                                                                                            calibration of the passive 
                                                                                            seismic data. 
 
                                                                                            Some bores drilled by WMC 
                                                                                            in 1992 for the Mt Keith 
                                                                                            mine water supply have 
                                                                                            proved useful in 
                                                                                            determining paleochannel 
                                                                                            grade and aquifer 
                                                                                            parameters. 
                             ------------------------------------------------------------  --------------------------- 
 Geology                                                                                    The deposit is a 
                                *    Deposit type, geological setting and style of          paleochannel brine deposit 
                                     mineralisation.                                        lying beneath the eastern 
                                                                                            shore of Lake Way. 
 
                                                                                            The lake and paleochannel 
                                                                                            setting is typical of a 
                                                                                            Western Australian 
                                                                                            palaeovalley environment. 
                                                                                            Ancient hydrological 
                                                                                            systems have incised 
                                                                                            palaeovalleys into 
                                                                                            Archaean basement rocks, 
                                                                                            which 
                                                                                            were then infilled by 
                                                                                            Tertiary-aged sediments 
                                                                                            typically comprising a 
                                                                                            coarse-grained fluvial 
                                                                                            basal sand overlaid by 
                                                                                            palaeovalley clay with 
                                                                                            some coarser grained 
                                                                                            interbeds. The clay is 
                                                                                            overlaid by recent 
                                                                                            Cainozoic material 
                                                                                            including lacustrine 
                                                                                            sediment, calcrete, 
                                                                                            evaporite and 
                                                                                            aeolian deposits. 
                             ------------------------------------------------------------  --------------------------- 
 Drill hole Information                                                                     Bore coordinates and 
                                *    A summary of all information material to the           elevations were located 
                                     understanding of the exploration results including a   using a hand held GPS 
                                     tabulation of the following information for all        which is sufficient for 
                                     Material drill holes:                                  this type of exploration 
                                                                                            activity. 
 
                                *    easting and northing of the drill hole collar          All bores are vertical. 
 
                                                                                            Total drilled depths, 
                                *    elevation or RL (Reduced Level - elevation above sea   basal sand interceptions 
                                     level in metres) of the drill hole collar              and screened intervals are 
                                                                                            included in a table 
                                                                                            in the text for the 
                                *    dip and azimuth of the hole                            abstraction bores and deep 
                                                                                            monitoring bores. The 
                                                                                            screened interval is 
                                *    downhole length and interception depth                 also stated for the clay 
                                                                                            monitoring bores. 
 
                                *    hole length. 
 
 
                                *    If the exclusion of this information is justified on 
                                     the basis that the information is not Material and 
                                     this exclusion does not detract from the 
                                     understanding of the report, the Competent Person 
                                     should clearly explain why this is the case. 
                             ------------------------------------------------------------  --------------------------- 
 Data aggregation methods                                                                   No cut off grade is 
                               *    In reporting Exploration Results, weighting averaging   stated. 
                                    techniques, maximum and/or minimum grade truncations 
                                    (e.g. cutting of high grades) and cut-off grades are    No data aggregation has 
                                    usually Material and should be stated.                  been undertaken. 
 
 
                               *    Where aggregate intercepts incorporate short lengths 
                                    of high grade results and longer lengths of low grade 
                                    results, the procedure used for such aggregation 
                                    should be stated and some typical examples of such 
                                    aggregations should be shown in detail. 
 
 
                               *    The assumptions used for any reporting of metal 
                                    equivalent values should be clearly stated. 
                             ------------------------------------------------------------  --------------------------- 
 Relationship between                                                                       The chemical analysis from 
 mineralisation widths and     *    These relationships are particularly important in the   the test pumping has shown 
 intercept lengths                  reporting of Exploration Results.                       the that the brine 
                                                                                            resource is consistent 
                                                                                            and continuous within this 
                               *    If the geometry of the mineralisation with respect to   section of paleochannel. 
                                    the drill hole angle is known, its nature should be     The unit is flat lying and 
                                    reported.                                               the intersected 
                                                                                            thickness of the basal 
                                                                                            sands is equivalent to the 
                               *    If it is not known and only the downhole lengths are    vertical depth and the 
                                    reported, there should be a clear statement to this     thickness of 
                                    effect (e.g. 'down hole length, true width not          mineralisation. 
                                    known'). 
                             ------------------------------------------------------------  --------------------------- 
 Diagrams                                                                                   All location maps and 
                                *    Appropriate maps and sections (with scales) and        sections are contained 
                                     tabulations of intercepts should be included for any   within the body of ASX 
                                     significant discovery being reported These should      version of this 
                                     include, but not be limited to a plan view of drill    announcement 
                                     hole collar locations and appropriate sectional        available to view at 
                                     views.                                                 www.so4.com.au . 
                             ------------------------------------------------------------  --------------------------- 
 Balanced reporting                                                                             A summary of the brine 
                                *    Where comprehensive reporting of all Exploration           grade results is 
                                     Results is not practicable, representative reporting       included in the 
                                     of both low and high grades and/or widths should be        report. 
                                     practiced to avoid misleading reporting of 
                                     Exploration Results. 
                             ------------------------------------------------------------  --------------------------- 
 Other substantive                                                                          All material exploration 
 exploration data              *    Other exploration data, if meaningful and material,     data has been reported. 
                                    should be reported including (but not limited to): 
                                    geological observations; geophysical survey results; 
                                    geochemical survey results; bulk samples - size and 
                                    method of treatment; metallurgical test results; bulk 
                                    density, groundwater, geotechnical and rock 
                                    characteristics; potential deleterious or 
                                    contaminating substances. 
                             ------------------------------------------------------------  --------------------------- 
 Further work                                                                                          Ongoing 
                                *    The nature and scale of planned further work (e.g.                drilling and 
                                     tests for lateral extensions or depth extensions or               test pumping of 
                                     large-scale step-out drilling).                                   further bores 
                                                                                                       within the 
                                                                                                       programme. 
                                *    Diagrams clearly highlighting the areas of possible 
                                     extensions, including the main geological                         All approved 
                                     interpretations and future drilling areas, provided               future 
                                     this information is not commercially sensitive.                   locations are 
                                                                                                       shown on maps 
                                                                                                       included in the 
                                                                                                       ASX version of 
                                                                                                       this 
                                                                                                       announcement 
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DRLSEESWFESSEEI

(END) Dow Jones Newswires

May 21, 2020 03:30 ET (07:30 GMT)

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