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Additional Information
Market: ASX
Sector: General Mining
EPIC: STB
Latest Price: 0.79  (-4.24% Descending)
52-week High: 3.49
52-week Low: 0.78
Market Cap: 91.82M
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South Boulder Mines
www.southbouldermines.com.au

South Boulder’s (ASX: STB) flagship project is the world class Colluli Potash Fertilizer Project in Eritrea where mine production of 1Mt p.a. is scheduled for 2016 or sooner from the world's first open cut potash mine.

 

South Boulder also operates the Duketon Project in Western Australia where there is demonstrated potential for gold, nickel sulphide and base metal mineralisation.

 

Full South Boulder Mines profile here
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South Boulder Mines confirms Colluli is the world's shallowest evaporite potash deposit

1st Dec 2010, 3:03 pm

With the new intersection of total potash of 24.08 metres starting from 48.32 metres vertical depth at the Colluli project in Eritrea, South Boulder (ASX: STB) continues to provide further support for the initial stated exploration target of 300-500mt of potash ores with average grades of 21 – 25% KCl.

South Boulder hole Col-006 confirmed the extensive continuity of mineralisation over at least 4.5km2, as it was drilled half way between two previous holes, with highlights from Col-006 including:

- 6.29m of sylvinitite from 48.32m;
- 0.64m of carnallitite from 54.61m;
- 7.36m of carnallitite from 70.85m; and
- 9.79m of kainitite from 78.21m.

Assays of up to 44% KCl have been intersected over 3.44m from sylvinitite intercepts.

The company's current drilling campaign is part of a JORC/43-101 resource and mining engineering study into the open pit mining and processing operation, with an initial starting capacity of 1.5Mt of potash annually, with the study also examining the viability of additional production of up to 3Mt of potash per year.

A JORC compliant resource is expected to be completed in early December 2010, with an update expected in the March quarter of 2011.

South Boulder intends to demonstrate through a scoping study that a low capital cost and low operating cost operation can be built.

Colluli has a close proximity to the coast and has an abandoned railway line running through the deposit, with this unique good quality mineralisation providing significant potential for South Boulder.

Additional drill results will be released as they come to hand.

 

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