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Danakil project completes maiden mineral resource estimate

12th February 2014

By: Leandi Kolver

Creamer Media Deputy Editor

  

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JOHANNESBURG (miningweekly.com) – A maiden National Instrument 43-101-compliant mineral resource estimate (MRE) has been completed for the Danakil potash project, in Ethiopia, following the completion of the project’s Phase 1 exploration programme, Aim-listed Premier African Minerals announced on Wednesday.

The project is 30%-owned by TSX-listed AgriMinco, in which Premier holds a 42% stake, in effect giving Premier a 12.6% net attributable interest in Danakil.

The total MRE included the sylvanite, upper carnallite, lower carnallite and the kainite potash bearing beds, and comprised an indicated mineral resource totalling 708.8-million tons at an average grade of 19.4% potassium chloride (KCl), for a total of 137.6-million tons of contained KCl.

The inferred mineral resource for all four potash bearing beds totalled 1.15-billion tons at an average grade of 19.1% KCl, for a total of 137.6-million tons of contained KCl.

"The resource estimate confirms management's confidence in the project and reaffirms our expectations that this property has the potential to be developed into a world-class exceptionally low-cost potash producer,” AgriMinco CEO George Roach commented.

Edited by Tracy Klückow
Creamer Media Contributing Editor

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