Our project

The deposit

Our area of interest contains what we believe to be the largest high-grade known resource of polyhalite to be found anywhere in the world.

The deposit was formed in the late Permian period, around 260 million years ago, in the southern North Sea basin. What was then the Zechstein Sea periodically evaporated, leaving behind a sequence of mineral deposits including the shelf and basin seams of polyhalite.

Between July 2011 and August 2013, over 16,000m of exploratory boreholes were drilled from the surface to test the extent and grade of the polyhalite deposit. From the boreholes, 4,200m of core was successfully recovered along with detailed downhole wireline logging data.

Results confirmed that our area of interest contains a polyhalite resource of 2.66 billion metric tonnes, as defined according to the internationally recognised JORC code. This is just 7% of the Project area of interest and provides an asset excess of 50 years. Within the resource area, there is a JORC compliant Probable Mineral Reserve of 280 million tonnes of polyhalite.

20/05/2015

The Polyhalite Deposit

our project

Reserve/Resource Statement

The JORC compliant Reserve statement was prepared by independent consultants SRK Consulting (UK) Ltd.

Reserve Statement May 2016
SeamReserve CategoryMean Thickness (m)Tonnage (Mt)Mean Polyhalite Grade (%)Polyhalite Content (Mt)
ShelfProbable25280.288.4247.7
Resource Statement May 2013
SeamReserve CategoryMean Thickness (m)Tonnage (Mt)Mean Polyhalite Grade (%)Polyhalite Content (Mt)
ShelfIndicated2782087.3710
ShelfInferred1184085.7720
BasinInferred26100084.7850
Total2,66085.72,280

Characterising the deposit

Economic Geology paper