Salt Lake Potash Limited Harvest Salt Results at Lake Way

Data : 28/05/2020 @ 08:00
Fonte : UK Regulatory (RNS & others)
Titolo : Salt Lake Potash Limited (SO4)
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Salt Lake Potash Limited Harvest Salt Results at Lake Way

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RNS Number : 1600O

Salt Lake Potash Limited

28 May 2020

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

HARVEST SALT RESULTS REPORT ABOVE MODELLED POTASSIUM GRADES

Salt Lake Potash Limited (SO4 or the Company) is pleased to announce results of chemical analysis on a bulk sample from its Kainite harvest ponds at the Lake Way Project, showing above the modelled average Potassium grades.

HIGHLIGHTS

-- A bulk sample of Harvest Salt from the Stage 1 Kainite Ponds was collected in March to confirm plant feed grades and produce mass samples of premium quality SOP for end user customers.

-- Chemical analysis of these Harvest Salts has indicated potassium salts kainite and schoenite (as modelled) are present with a potassium concentration of 7.5%, above the modelled assumed plant feed of 6.8%. Sulphate concentration of 20.9% also matched expectations.

-- Results for other compounds, namely Sodium and Magnesium align with the anticipated plant feed grade.

-- The bulk sample confirms the Lake Way operation is precipitating plant feed Harvest Salts suitable for conversion to premium quality SOP in the designed flowsheet. This will be further confirmed via process testwork at Saskatchewan Research Council (SRC) in Saskatoon, Canada.

TONY SWIERICZUK, Chief Executive Officer

"These positive results confirm our Stage 1 ponds are operating within design parameters and are producing high grade potassium feed salts which can be converted to premium quality SOP. Following the strong results from pumping our first brine abstraction bore reported last week, today's results further highlights the extent to which the Lake Way Project and our on-lake production process has been de-risked over the last twelve months."

harvest salt chemical testwork

In March 2020 the Company harvested a bulk sample (277kg) of Harvest Salts from a single point location in Kainite Pond 1, Cell C4 (Figure 2) in the 125ha Stage 1 pond network. Brine feed to the Stage 1 ponds is from both the on-lake trenches and the Williamson Pit.

Following collection, the Harvest Salts were de-brined and homogenised. A representative 0.25kg sample was sent to the Bureau Veritas laboratory in Perth for chemical analysis.

The chemical composition of the sample is outlined in Table 1 and aligns with SO4's evaporation model, based on a series of comprehensive evaporation trials undertaken in 2018 and early 2019. The potassium grade of 7.5% is within the range of expected outcomes and is above the average BFS feed grade of 6.8%. Readings for all other elements were within the range of expected outcomes. XRD results are pending.

 
 Harvest Salt element    Wt % 
----------------------  ------ 
          Mg             3.3% 
======================  ====== 
          Ca             0.01% 
======================  ====== 
          Na             24.4% 
======================  ====== 
           K             7.5% 
======================  ====== 
          Cl             40.4% 
======================  ====== 
          SO4            20.9% 
======================  ====== 
          Mg             3.3% 
======================  ====== 
 

Table 1: Table of Bureau Veritas sample results chemistry

Having confirmed that the chemical composition of the bulk sample aligns with SO4's modelling and the grades are within the expected ranges, the remainder of the bulk sample of Harvest Salts is now being shipped to SRC in Canada for confirmatory testwork to produce premium high grade SOP to generate further samples to provide to offtakers.

The Stage 1 pond network commenced commissioning in May 2019 and has been in operation for 12 months, with the continuous inflow of brine into the Halite Pond. Brine evaporates and increases in concentration as it flows through the pond cells. Halite salts form in the early cells prior to the higher concentrate brine being pumped into the Kainite harvest pond cells for the precipitation of the potassium rich harvest salts.

At the end of April 2020, 2.7GL of brine has been pumped into the Stage 1 pond network.

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 report that relates to Process Testwork Results is based on, and fairly represents, information compiled by Mr Bryn Jones, BAppSc (Chem), MEng (Mining) who is a Fellow of the Australasian Institute of Mining and Metallurgy. Mr Jones is a holder of shares and performance rights in, and is a Director of, Salt Lake Potash Limited. Mr Jones 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 Jones 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                                                                         Sampling involved 
                               *    Nature and quality of sampling (e.g. cut channels,       extraction of a small 
                                    random chips, or specific specialised industry           sample of harvest salt 
                                    standard measurement tools appropriate to the            from the Stage 1 kainite 
                                    minerals under investigation, such as downhole gamma     harvest 
                                    sondes, or handheld XRF instruments, etc.). These        ponds (C4) at Lake Way. 
                                    examples should not be taken as limiting the broad       The harvest ponds are 
                                    meaning of sampling.                                     large solar evaporation 
                                                                                             ponds which receive 
                                                                                             brine from the 
                               *    Include reference to measures taken to ensure sample     surrounding lake aquifer. 
                                    presentively and the appropriate calibration of any      Brine is pumped into the 
                                    measurement tools or systems used.                       solar evaporation ponds 
                                                                                             and the chemistry is 
                                                                                             monitored and controlled 
                               *    Aspects of the determination of mineralisation that      to ensure the potassium 
                                    are Material to the Public Report.                       salts are formed in the 
                                                                                             harvest ponds. A salt 
                                                                                             sample was taken from 
                               *    In cases where 'industry standard' work has been done,   a single point location 
                                    this would be relatively simple (e.g. 'reverse           in TK1C4, approximately 
                                    circulation drilling was used to obtain 1 m samples      10m in from the centre of 
                                    from which 3 kg was pulverised to produce a 30 g         the western edge 
                                    charge for fire assay'). In other cases, more            of the pond, on 28 March 
                                    explanation may be required, such as where there is      2020. 
                                    coarse gold that has inherent sampling problems.         The salt sample was taken 
                                    Unusual commodities or mineralisation types (e.g.        from the surface of the 
                                    submarine nodules) may warrant disclosure of detailed    salt pavement to a depth 
                                    information.                                             of approximately 
                                                                                             5cm. The salt sample was 
                                                                                             drained and placed into a 
                                                                                             total eight buckets 
                                                                                             (277kg gross) and shipped 
                                                                                             to Perth for analysis. 
                                                                                             Once received at the SO4 
                                                                                             laboratory in Perth, the 
                                                                                             salt was further 
                                                                                             de-brined by draining the 
                                                                                             harvested salt through a 
                                                                                             strainer, then the 
                                                                                             drained salts were 
                                                                                             crushed by hand using 
                                                                                             hand 
                                                                                             tools (shovels and paving 
                                                                                             tamper) to nominally all 
                                                                                             passing 25mm, where the 
                                                                                             typical particle 
                                                                                             size is <5mm. 
                                                                                             The crushed salts were 
                                                                                             homogenised (overturned 
                                                                                             and mixed using shovels 
                                                                                             on a tarpaulin, then 
                                                                                             coned and quartered 
                                                                                             multiple times until a 
                                                                                             1kg representative salt 
                                                                                             sample was obtained. A 
                                                                                             250g sub sample was 
                                                                                             provided to Bureau 
                                                                                             Veritas for ICP-OES and 
                                                                                             XRD analysis. 
                                                                                             In addition to the salt 
                                                                                             sample, brine samples are 
                                                                                             taken from each solar 
                                                                                             evaporation pond 
                                                                                             regularly 
                                                                                             and routinely to monitor 
                                                                                             the solar evaporation 
                                                                                             process. 
                                                                                             Brine samples were taken 
                                                                                             manually by initially 
                                                                                             rinsing out the sample 
                                                                                             bottle with brine from 
                                                                                             the source then filling 
                                                                                             the bottle. Samples were 
                                                                                             analysed for K, Mg, Ca, 
                                                                                             Na, Cl, SO4, TDS 
                                                                                             and specific gravity. 
                                                                                             The temperature and 
                                                                                             pressure in each pond 
                                                                                             were logged 
                                                                                             electronically with 
                                                                                             piezometers. 
                                                                                             Brine is a homogenous 
                                                                                             fluid below the surface, 
                                                                                             while salt samples are 
                                                                                             cone and quartered to 
                                                                                             provide a homogenous 
                                                                                             sample. 
                             -------------------------------------------------------------  -------------------------- 
 Drilling techniques                                                                         No drilling was 
                                *    Drill type (e.g. core, reverse circulation, open-hole   undertaken during 
                                     hammer, rotary air blast, auger, Bangka, sonic, etc.)   sampling. The salt sample 
                                     and details (e.g. core diameter, triple or standard     was taken manually by 
                                     tube, depth of diamond tails, face-sampling bit or      shovel from 
                                     other type, whether core is oriented and if so, by      the surface of the salt 
                                     what method, etc.).                                     pavement. 
                             -------------------------------------------------------------  -------------------------- 
 Drill sample recovery                                                                       No drilling was 
                                *    Method of recording and assessing core and chip         undertaken during 
                                     sample recoveries and results assessed.                 sampling. 
                                                                                             Brine samples taken from 
                                                                                             the ponds, were sampled 
                                *    Measures taken to maximise sample recovery and ensure   from beneath the surface 
                                     representative nature of the samples.                   of the ponds, thus 
                                                                                             were representative of 
                                                                                             the entire pond as the 
                                *    Whether a relationship exists between sample recovery   ponds are small enough to 
                                     and grade and whether sample bias may have occurred     act as a homogeneous 
                                     due to preferential loss/gain of fine/coarse            liquid bodies. 
                                     material.                                               Salt samples were 
                                                                                             crushed, coned and 
                                                                                             quartered to ensure 
                                                                                             sample 
                                                                                             representativeness. The 
                                                                                             crushing 
                                                                                             and homogenisation lowers 
                                                                                             the risk of preferential 
                                                                                             loss/gain of one size 
                                                                                             fraction over another. 
                             -------------------------------------------------------------  -------------------------- 
 Logging                                                                                     No logging was undertaken 
                                *    Whether core and chip samples have been geologically    during sampling. 
                                     and geotechnically logged to a level of detail to 
                                     support appropriate Mineral Resource estimation, 
                                     mining studies and metallurgical studies. 
 
 
                                *    Whether logging is qualitative or quantitative in 
                                     nature. Core (or costean, channel, etc.) photography. 
 
 
                                *    The total length and percentage of the relevant 
                                     intersections logged. 
                             -------------------------------------------------------------  -------------------------- 
 Sub-sampling techniques                                                                     Not applicable, no 
 and sample preparation         *    If core, whether cut or sawn and whether quarter,       drilling was undertaken 
                                     half or all core taken.                                 during sampling. 
                                                                                             Not applicable, no 
                                                                                             drilling was undertaken 
                                *    If non-core, whether riffled, tube sampled, rotary      during sampling. 
                                     split, etc. and whether sampled wet or dry.             The brine samples were 
                                                                                             taken in sterile plastic 
                                                                                             bottles of 50ml or 250ml 
                                *    For all sample types, the nature, quality and           capacity. Brine is 
                                     appropriateness of the sample preparation technique.    a homogenous fluid below 
                                                                                             the surface, while salt 
                                                                                             is cone and quartered to 
                                *    Quality control procedures adopted for all              homogenise and sample. 
                                     sub-sampling stages to maximise representivity of       Brine was diluted (1:50 
                                     samples.                                                in de-ionised water) at 
                                                                                             the lab to ensure 
                                                                                             accurate determination by 
                                *    Measures taken to ensure that the sampling is           ICP. 
                                     representative of the insitu material collected,        Salt was crushed to <25mm 
                                     including for instance results for field                and homogenising to 
                                     duplicate/second-half sampling.                         ensure that the 250g 
                                                                                             subsample taken is 
                                                                                             representative 
                                *    Whether sample sizes are appropriate to the grain       for the grain size. 50g 
                                     size of the material being sampled.                     of the wet homogenised 
                                                                                             sample is air dried at 
                                                                                             ambient temperature 
                                                                                             and sent for XRD. 
                                                                                             Following this the sample 
                                                                                             is crushed with a mortar 
                                                                                             and pestle to <120um. 
                                                                                             It is then packed into a 
                                                                                             pellet to undergo XRD 
                                                                                             analysis. 
                                                                                             10g of the wet 
                                                                                             homogenised sample is air 
                                                                                             dried at ambient 
                                                                                             temperature. Residual 
                                                                                             moisture is 
                                                                                             determined by 
                                                                                             acetone-displacement wash 
                                                                                             followed by drying at a 
                                                                                             temperature of 60 degrees 
                                                                                             Celsius. Following this 
                                                                                             drying, the salt sample 
                                                                                             is dissolved in 100ml of 
                                                                                             de-ionised water, 
                                                                                             and is sent for ICP 
                                                                                             analysis. 
                             -------------------------------------------------------------  -------------------------- 
 Quality of assay data and                                                                   The brine and salt 
 laboratory tests               *    The nature, quality and appropriateness of the          samples were sent to 
                                     assaying and laboratory procedures used and whether     Bureau Veritas (BV) 
                                     the technique is considered partial or total.           Laboratories in Perth, 
                                                                                             WA. ICP 
                                                                                             and XRD preparation 
                                *    For geophysical tools, spectrometers, handheld XRF      undertaken at BV. 
                                     instruments, etc., the parameters used in determining   ICP analysis to determine 
                                     the analysis including instrument make and model,       the chemical ion 
                                     reading times, calibrations factors applied and their   analysis, and wet 
                                     derivation, etc.                                        chemistry titration to 
                                                                                             determine 
                                                                                             chloride content was 
                                *    Nature of quality control procedures adopted (e.g.      performed by Bureau 
                                     standards, blanks, duplicates, external laboratory      Veritas, Canning Vale, 
                                     checks) and whether acceptable levels of accuracy       WA. 
                                     (i.e. lack of bias) and precision have been             Sub samples prepared at 
                                     established.                                            BV were sent for XRD 
                                                                                             analysis to determine the 
                                                                                             salt crystal mineralogy 
                                                                                             at Microanalysis in 
                                                                                             Perth, WA. 
                                                                                             No laboratory analysis 
                                                                                             was undertaken with 
                                                                                             geophysical tools. 
                                                                                             All BV laboratories work 
                                                                                             to documented procedures 
                                                                                             compliant with ISO 9001 
                                                                                             Quality Management 
                                                                                             Systems. Rigorous quality 
                                                                                             control and quality 
                                                                                             assurance measures are 
                                                                                             applied throughout the 
                                                                                             entire process in their 
                                                                                             laboratories. 
                                                                                             Standard quality 
                                                                                             assurance procedures 
                                                                                             include: 
                                                                                             -- Analysis of blanks 
                                                                                             within each batch. 
                                                                                             -- The routine testing of 
                                                                                             suitable certified 
                                                                                             reference materials from 
                                                                                             national and 
                                                                                             international 
                                                                                             suppliers, in addition to 
                                                                                             in-house and client 
                                                                                             supplied standards. 
                                                                                             Standards will be 
                                                                                             selected 
                                                                                             based on the elements of 
                                                                                             interest, expected range 
                                                                                             of concentration, and the 
                                                                                             analytical method 
                                                                                             used. 
                                                                                             -- Duplicate samples are 
                                                                                             included in each batch to 
                                                                                             ensure that reproducible 
                                                                                             results are being 
                                                                                             achieved. Duplicate 
                                                                                             samples may be solutions, 
                                                                                             pulps or coarse splits as 
                                                                                             requested. 
                                                                                             -- Re-assay of anomalous 
                                                                                             results by our quality 
                                                                                             control staff using 
                                                                                             techniques considered 
                                                                                             appropriate for the level 
                                                                                             of analytes encountered. 
                                                                                             -- All sample results are 
                                                                                             reported. All blanks and 
                                                                                             standards are reported on 
                                                                                             request. 
                                                                                             Microanalysis uses XRD, 
                                                                                             which is 
                                                                                             semi-quantitative, as it 
                                                                                             does not take into 
                                                                                             account preferred 
                                                                                             orientation, strain or 
                                                                                             crystallite size. The 
                                                                                             amorphous content is 
                                                                                             estimated using the 
                                                                                             background 
                                                                                             ratio rather than an 
                                                                                             internal spike. All 
                                                                                             procedures are internally 
                                                                                             validated. Microanalysis 
                                                                                             Australia has an 
                                                                                             established QA/QC system 
                                                                                             of procedures for 
                                                                                             receipt, preparation and 
                                                                                             analysis 
                                                                                             of samples. All 
                                                                                             instruments are 
                                                                                             calibrated monthly with a 
                                                                                             certified reference 
                                                                                             standard. They 
                                                                                             run a calibration check 
                                                                                             using a certified 
                                                                                             Panalytical silicon 
                                                                                             standard monthly and 
                                                                                             monitor 
                                                                                             source decay. 
                                                                                             Repeatability studies 
                                                                                             have been undertaken to 
                                                                                             verify subsampling 
                                                                                             procedures. 
                                                                                             Every tenth sample is 
                                                                                             repeated to verify 
                                                                                             repeatability and 
                                                                                             consistency of results. 
                             -------------------------------------------------------------  -------------------------- 
 Verification of sampling                                                                    Not applicable, brine is 
 and assaying                   *    The verification of significant intersections by        a homogenous fluid below 
                                     either independent or alternative company personnel.    the surface. 
                                                                                             Not applicable, brine is 
                                                                                             a homogenous fluid below 
                                *    The use of twinned holes.                               the surface. 
                                                                                             All sampling and assaying 
                                                                                             is well documented and 
                                *    Documentation of primary data, data entry procedures,   contained in SO4's 
                                     data verification, data storage (physical and           internal databases. 
                                     electronic) protocols.                                  No adjustments have been 
                                                                                             made to assay data. 
 
                                *    Discuss any adjustment to assay data. 
                             -------------------------------------------------------------  -------------------------- 
 Location of data points                                                                     Location data is not 
                                *    Accuracy and quality of surveys used to locate drill    relevant for this process 
                                     holes (collar and down-hole surveys), trenches, mine    test and so was not 
                                     workings and other locations used in Mineral Resource   taken. 
                                     estimation. 
 
 
                                *    Specification of the grid system used. 
 
 
                                *    Quality and adequacy of topographic control. 
                             -------------------------------------------------------------  -------------------------- 
 Data spacing and                                                                            Brine samples were taken 
 distribution                   *    Data spacing for reporting of Exploration Results.      at appropriate time 
                                                                                             intervals, either weekly 
                                                                                             or biweekly, to gain 
                                *    Whether the data spacing and distribution is            sufficient resolution on 
                                     sufficient to establish the degree of geological and    the brines' evaporation 
                                     grade continuity appropriate for the Mineral Resource   pathway. 
                                     and Ore Reserve estimation procedure(s) and             The salt sample was taken 
                                     classifications applied.                                from cell 4 of 5 cells in 
                                                                                             the Stage 1 harvest pond, 
                                                                                             whilst the brine 
                                *    Whether sample compositing has been applied.            chemistry of the cell was 
                                                                                             within the targeted 
                                                                                             "harvest zone" (where 
                                                                                             potassium salt is 
                                                                                             expected 
                                                                                             to be produced). The 
                                                                                             sample is therefore is 
                                                                                             indicative of the type of 
                                                                                             harvest salt produced 
                                                                                             in the potassium harvest 
                                                                                             ponds. 
                                                                                             Sample compositing has 
                                                                                             not been applied. 
                             -------------------------------------------------------------  -------------------------- 
 Orientation of data in                                                                      Not applicable as harvest 
 relation to geological         *    Whether the orientation of sampling achieves unbiased   salts were homogenised. 
 structure                           sampling of possible structures and the extent to       Drilling orientation is 
                                     which this is known, considering the deposit type.      not applicable. The 
                                                                                             entire mass of the salt 
                                                                                             sample produced by the 
                                *    If the relationship between the drilling orientation    solar pond was harvested, 
                                     and the orientation of key mineralised structures is    homogenised and sent for 
                                     considered to have introduced a sampling bias, this     assay. 
                                     should be assessed and reported if material. 
                             -------------------------------------------------------------  -------------------------- 
 Sample security                                                                             SO4 operations personnel 
                                *    The measures taken to ensure sample security.           and engineers were 
                                                                                             responsible for sampling 
                                                                                             and homogenising all 
                                                                                             brine and salt samples 
                                                                                             prior to shipping to the 
                                                                                             BV lab in Perth and the 
                                                                                             SO4 lab/warehouse. 
                                                                                             The security measures for 
                                                                                             the material and type of 
                                                                                             sampling at hand was 
                                                                                             appropriate. 
                             -------------------------------------------------------------  -------------------------- 
 Audits or reviews                                                                           Data review is undertaken 
                                *    The results of any audits or reviews of sampling        in the report and 
                                     techniques and data.                                    included an assessment of 
                                                                                             the quality of assay 
                                                                                             data and laboratory tests 
                                                                                             and verification of 
                                                                                             sampling and assaying. No 
                                                                                             audits of sampling 
                                                                                             techniques and data have 
                                                                                             been undertaken. 
                             -------------------------------------------------------------  -------------------------- 
 

Section 2: Reporting of Exploration Results

 
 Criteria                     JORC Code explanation                                         Commentary 
 Mineral tenement and land                                                                  The Lake Way Project 
 tenure status                  *    Type, reference name/number, location and ownership    comprises tenements held 
                                     including agreements or material issues with third     by Piper Preston Pty Ltd, 
                                     parties such as joint ventures, partnerships,          a wholly owned subsidiary 
                                     overriding royalties, native title interests,          of Salt Lake Potash 
                                     historical sites, wilderness or national park and      Limited (SO4 or the 
                                     environmental settings.                                Company). 
 
 
                                *    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                                                                  No prior process (solar 
 parties                        *    Acknowledgment and appraisal of exploration by other   evaporation) test work has 
                                     parties.                                               been undertaken by other 
                                                                                            parties on the 
                                                                                            brine from Williamson Pit 
                                                                                            or Lake Way Playa. 
                                                                                            The Company has previously 
                                                                                            reported a brine resource 
                                                                                            for the Lake Way Project - 
                                                                                            refer ASX 
                                                                                            Announcement 11 October 
                                                                                            2019. 
                                                                                            There has been significant 
                                                                                            mineral exploration on and 
                                                                                            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. 
                                                                                            The data from previous 
                                                                                            exploration work by other 
                                                                                            parties has not been used 
                                                                                            in appraising the 
                                                                                            results of the process 
                                                                                            testwork included in this 
                                                                                            announcement. 
                             ------------------------------------------------------------  --------------------------- 
 Geology                                                                                    The deposit is a salt-lake 
                                *    Deposit type, geological setting and style of          brine deposit. 
                                     mineralisation.                                        The lake 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. 
                                                                                            The brine is concentrated 
                                                                                            in solar evaporation ponds 
                                                                                            and the salt is 
                                                                                            precipitated into the 
                                                                                            evaporation ponds as fine 
                                                                                            (0.5 - 5mm) crystals that 
                                                                                            form a single, homogeneous 
                                                                                            salt bed. 
                             ------------------------------------------------------------  --------------------------- 
 Drill hole Information                                                                     No drilling was 
                                *    A summary of all information material to the           undertaken. 
                                     understanding of the exploration results including a   The brine source for the 
                                     tabulation of the following information for all        Stage 1 solar evaporation 
                                     Material drill holes:                                  pond, was initially 
                                                                                            sourced from the 
                                                                                            Williamson 
                                *    easting and northing of the drill hole collar          pit, and subsequently from 
                                                                                            an array of trenches 
                                                                                            constructed on the surface 
                                *    elevation or RL (Reduced Level - elevation above sea   of Lake Way in 
                                     level in metres) of the drill hole collar              the vicinity of Stage 1 
                                                                                            solar evaporation pond. 
 
                                *    dip and azimuth of the hole 
 
 
                                *    downhole length and interception depth 
 
 
                                *    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                                                                   Harvested salt from the 
                               *    In reporting Exploration Results, weighting averaging   solar evaporation ponds 
                                    techniques, maximum and/or minimum grade truncations    was homogenised, assayed 
                                    (e.g. cutting of high grades) and cut-off grades are    weighed to provide 
                                    usually Material and should be stated.                  the estimated grade at the 
                                                                                            time of sampling. 
 
                               *    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                                                                       Not applicable to process 
 mineralisation widths and     *    These relationships are particularly important in the   testwork. 
 intercept lengths                  reporting of Exploration Results. 
 
 
                               *    If the geometry of the mineralisation with respect to 
                                    the drill hole angle is known, its nature should be 
                                    reported. 
 
 
                               *    If it is not known and only the downhole lengths are 
                                    reported, there should be a clear statement to this 
                                    effect (e.g. 'down hole length, true width not 
                                    known'). 
                             ------------------------------------------------------------  --------------------------- 
 Diagrams                                                                                   Maps and sections not 
                                *    Appropriate maps and sections (with scales) and        included for process 
                                     tabulations of intercepts should be included for any   testwork. Refer prior ASX 
                                     significant discovery being reported These should      Announcement dated 25 
                                     include, but not be limited to a plan view of drill    February 2020. 
                                     hole collar locations and appropriate sectional 
                                     views. 
                             ------------------------------------------------------------  --------------------------- 
 Balanced reporting                                                                             All results have been 
                                *    Where comprehensive reporting of all Exploration           included in the body 
                                     Results is not practicable, representative reporting       of the report. 
                                     of both low and high grades and/or widths should be 
                                     practiced to avoid misleading reporting of 
                                     Exploration Results. 
                             ------------------------------------------------------------  --------------------------- 
 Other substantive                                                                          All material process data 
 exploration data              *    Other exploration data, if meaningful and material,     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                                                                               Brine evaporation from the 
                                *    The nature and scale of planned further work (e.g.     solar ponds is ongoing, as 
                                     tests for lateral extensions or depth extensions or    the brine concentration 
                                     large-scale step-out drilling).                        progresses to 
                                                                                            the target concentration 
                                                                                            points. 
                                *    Diagrams clearly highlighting the areas of possible    Downstream metallurgical 
                                     extensions, including the main geological              test work on the harvested 
                                     interpretations and future drilling areas, provided    salts will be undertaken 
                                     this information is not commercially sensitive.        by a world leading 
                                                                                            potash research laboratory 
                                                                                            to convert the harvest 
                                                                                            salt to a process 
                                                                                            intermediate (schoenite). 
                                                                                            The schoenite will then be 
                                                                                            tested by the crystalliser 
                                                                                            supplier. 
                                                                                            Brine and salt samples 
                                                                                            will continue to be 
                                                                                            collected during the 
                                                                                            establishment of a fully 
                                                                                            operational 
                                                                                            solar evaporation pond 
                                                                                            system. 
                             ------------------------------------------------------------  --------------------------- 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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