Information  X 
Enter a valid email address

Emmerson PLC (EML)

  Print   

Wednesday 08 August, 2018

Emmerson PLC

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: +44 (0) 207 236 1177

Edward McDermott

 

 

 

James Biddle

Roland Cornish

Beaumont Cornish Limited

Financial Adviser

 

Tel: +44 (0) 207 628 3396

 

Jeremy King

 

Optiva Securities Limited

Broker

Tel: +44 (0) 3137 1904

 

 

 

Lottie Wadham

Susie Geliher

St Brides Partners Ltd

Financial PR/IR

Tel: +44 (0) 20 7236 1177

 

 

 

 

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.

 

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
END
 
 
MSCUBABRWRAWRAR

a d v e r t i s e m e n t