Grant of Additional Research Permits at Khemisset

RNS Number : 1201X

Emmerson PLC

08 August 2018

 

Emmerson Plc / Ticker: EML / Index: LSE / Sector: Mining

08 August 2018

Emmerson Plc ("Emmerson" or the "Company") 

Grant of Additional Research Permits at Khemisset Potash Project

Emmerson Plc, the Moroccan focused potash development company, is pleased to announce it has received confirmation from the Moroccan mining authorities that the Company has been granted 15 additional Research Permits adjoining its 100% owned Khemisset Potash Project in Northern Morocco ("Khemisset" or "the Project").  To view the press release with the illustrative maps and diagrams please use the following link:
http://www.rns-pdf.londonstockexchange.com/rns/1201X_1-2018-8-7.pdf

Highlights

·     11 additional Research Permits granted adjoining Khemisset to the north-east

·     Four additional Research Permits granted adjoining Khemisset to the south-west

·     New Permits cover an area of 239km². Total Khemisset Project area now 815km²

·    Desktop geological work indicates potash mineralisation is likely to continue for some distance to the north-east, including the area covered by a number of the new permits

·    A JORC-compliant Exploration Target is expected to be released in coming weeks demonstrating exploration potential for the area covered by the new permits in the north-east

·     Emmerson will commence planning an extensional drill programme to test this area, which will likely be carried out as part of the second drill programme at Khemisset

Hayden Locke, CEO of Emmerson, commented: 

"The Khemisset Potash Project already has a large inferred mineral resource of 311.4 million tonnes @ 10.2% K₂O, which covers only a small portion of the broader Khemisset Potash Basin.  Our desktop review of historical geological data indicates that the potash mineralisation is likely to continue for a number of kilometres to the north east.  We are currently completing an Exploration Target for this new zone, which will give some context as to the potential for additional resources for the Project.

"We believe our existing JORC-compliant Resource is sufficiently large to support a mine life of over 20 years.  Additional mineralisation in this region will only strengthen the overall fundamentals of the Project and its multi-decade, multi-generational potential.

"In the meantime, the Scoping Study for Khemisset is well underway and we're confident of delivering it by the end of Q1 2019.  We continue to be excited by Khemisset's potential to be a low capital cost, high margin, potash project delivering outstanding returns regardless of the potash price." 

 

**ENDS**

For further information, please visit www.emmersonplc.com, follow us on Twitter (@emmerson_plc), or contact:  Hayden Locke Emmerson Plc Tel: [phone] Edward McDermott James Biddle Roland Cornish Beaumont Cornish Limited Financial Adviser Tel: [phone] Jeremy King Optiva Securities Limited Broker Tel: [phone] Lottie Wadham Susie Geliher St Brides Partners Ltd Financial PR/IR Tel: [phone]

Notes to Editors

Emmerson's primary focus is on developing the Khemisset Potash Project located in Northern Morocco.  The project has a large JORC Resource Estimate (2012) of 311.4Mt @ 10.2% K₂O and significant exploration potential with an accelerated development pathway targeting a low capex, high margin mine.  Khemisset is perfectly located to capitalise on the expected growth of African fertiliser consumption whilst also being located on the doorstep of European markets. This unique positioning means the project will receive a premium netback price compared to existing potash producers. The need to feed the world's rapidly increasing population is driving demand for potash and Emmerson is well placed to benefit from the opportunities this presents.

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014.

 

END

 

 

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