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Sirius Minerals Plc (SXX)

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Friday 16 December, 2011

Sirius Minerals Plc

Planning Approvals and Drilling Update

RNS Number : 1045U
Sirius Minerals Plc
16 December 2011
 



 

 

16 December 2011

 

Sirius Minerals Plc

 

("Sirius" or the "Company")

 

Planning Approvals and Drilling Update

 

The Directors of Sirius Minerals Plc (AIM: SXX, OTCQX: SRUXY), the globally diversified potash development group, are pleased to announce the approval by the North York Moors National Park Authority of three additional planning applications for drill sites for the York Potash Project and to provide an update on drilling at SM2.

 

Planning Approvals

 

In a meeting held yesterday in Helmsley, North Yorkshire, the Members of the North York Moors National Park Planning Committee approved three further drill site applications following the Officers' positive recommendation.  The three sites are within commercial forestry blocks so will be largely out of view and will have a minimal impact on local communities.

 

SM2 Drilling Progress Update

 

Further to the update provided on 13 December 2011, drilling at SM2 (Howlett Hall) has now passed the latest fluid loss zone.  The hole is now 1,164m below surface and the rig is currently preparing to insert the last casing.  The cementing of the last casing is the final step before coring of the target zones commences.

 

By way of background, fluid loss zones are a relatively common feature of drilling into these geological sequences and were encountered in SM2 well above the potential mining horizons.  The remedies for this situation are to either pump down viscous materials which plug the gaps or the injection of cement to close them.  The cementing process requires the drill string to be removed, which adds to the overall drilling time.  Sirius encountered some such issues at SM1, but they did not give the same level of delays as experienced at SM2.

 

Chris Fraser, Managing Director and CEO of Sirius said:

 

"These additional sites will help us further define the extent of the world class resource that exists in the area.  We continue to progress the drilling phase as quickly as possible and while any delays are naturally frustrating they are a normal part of this style of drilling.  Importantly, they do not impact the potential or integrity of the deposit or the potential ease of mining."

 

 

 



For further information, please contact:

 

Sirius Minerals Plc




Chris Fraser
(MD & CEO)

Tel: +44 7582711382 or

+61 404 073 288

Andrew Lindsay
(FD & CFO)

Tel: +44 20 3327 3661

 

NOMAD/ Joint Broker

Joint Brokers

Media Enquiries

Macquarie Capital (Europe) Limited

Liberum Capital Limited

Gth Media Relations

Steve Baldwin, Sam Small, Nick Harland, Dan Iacopetti

 

Michael Rawlinson, Clayton Bush

Toby Hall,

Suzanne Johnson Walsh

Tel: +44 20 3037 2000

Tel: + 44 20 3100 2222

Tel: + 44 20 3103 3903

 

About Sirius Minerals Plc

Sirius Minerals is a globally diversified potash development company. Its primary focus is to bring on stream major potash mining facilities through the acquisition and development of projects overlying recognised potash deposits. Today it holds properties in the United Kingdom (North Yorkshire), the United States (North Dakota), and Australia (Queensland and Western Australia).

 

The Company is additionally progressing ongoing innovation initiatives into the secondary uses of salt and potash beds for energy storage and carbon dioxide sequestration.

 

Incorporated in 2003, Sirius Minerals' shares are traded on the London Stock Exchange's AIM market.  Its shares are also traded in the United States on the OTCQX through the use of a sponsored ADR facility.  Further information on the Company can be found at www.siriusminerals.com.

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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