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From: B-Haile (eritrea.lave@comhem.se)
Date: Mon Dec 13 2010 - 02:25:59 EST
South Boulder Mines Ltd
ASX Release
13 December 2010
MORE SHALLOW POTASH INTERSECTED AT COLLULI
- Diamond core drilling (Col-007 and Col-008) has intersected additional shallow potash mineralisation and confirm the initial exploration target of 300-500Mt of potash ores with average grades of 21-25% KCl (The potential quantity and grade of the Colluli exploration target is conceptual in nature and there has been insufficient exploration to define a Mineral Resource and it is uncertain if further exploration will result in the determination of a Mineral Resource.)
Col-007 and Col-008 were drilled as shown on the attached map (Figure 1) and confirms the extensive continuity of mineralisation over at least 4.5km2. The mineralisation is considered open in all directions;
- Hole Col-007 and Col-008 intersected a total thickness of 19.39m and 18.37m of potash respectively;
- Hole Col-007 intersected;
- 0.95m of sylvinitite from 24.50m;
- 9.71m of carnallitite from 38.29m;
- 8.73m of kainitite from 46.00;
- Hole Col-008 intersected;
- 2.40m of sylvinitite from 22.20m;
- 6.73m of carnallitite from 32.45m;
- 9.24m of kainitite from 39.18m;
- The sylvinitite mineralization in Col-008 is the shallowest intersected to date and appears to be of a high grade nature from field diagnostic properties. Assays up to 44% KCl have been intersected over 3.44m from sylvinitite intercepts;
- The current drilling 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 p.a. The study will also examine the viability of additional production of up to 3Mt of potash p.a;
- Exploration results to date have confirmed Colluli as the world's shallowest buried evaporite potash deposit;
- Full drilling details and scoping study results will be released as the come to hand.
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