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Emmerson Plc - Completion of Drilling Programme at Khemisset

Home / Client News / Emmerson Plc – Completion of Drilling Programme at Khemisset

Highlights

  • Successful completion of infill drilling programme focused on confirming and expanding the mineral resources at the Khemisset Potash Project
  • Achievement of programme objectives including:
    Additional geological information obtained from area most likely to be the target of initial mining operations;
    – Sufficient sample material collected to complete a comprehensive metallurgical test work programme (as per announcement dated 22 July 2019); and
    – Detailed geotechnical testing of all lithologies relevant to mining operations complete or underway
  • All nine holes completed with excellent core recovery
  • Drill programme completed under budget and on schedule
  • Geochemical assays and an updated JORC Resource expected in coming weeks

Emmerson Plc, the Moroccan focused potash development company, is pleased to announce the completion of its drilling programme at its 100% owned Khemisset Potash Project in Northern Morocco (“Khemisset” or “the Project”). The infill programme, undertaken by Drillon, consisted of nine holes and successfully achieved its objectives of providing additional geological information in the area most likely to be the target of initial mining operations in addition to providing enough sample material to complete a comprehensive metallurgical test work programme and detailed geotechnical testing.

The entire drilling programme was completed within the timelines set by the Company and under the allocated budget. Final geochemical assays are expected in coming weeks, which will allow an updated geological model and JORC Mineral Resource Estimate to be completed prior to the end of October 2019.

Hayden Locke, CEO of Emmerson, commented:

“The completion of our drilling programme on time and under budget, and with excellent core recovery, is a major milestone for Emmerson and a credit to our fantastic geological team.

“The detailed information from the drill programme will enable the continued rapid advancement of the Khemisset Project with ever increasing confidence in our technical and economic outcomes, culminating in the release of our Feasibility Study in the first half of 2020.

“We look forward to releasing an updated Mineral Resource Estimate, with a significant proportion within the Measured and Indicated resource categories. This Mineral Resource Estimate will form an integral part of our ongoing Feasibility Study. We continue to believe the results of this study will confirm our belief that Khemisset has the potential to be a low capital cost, high margin potash development, which generates strong cash flows regardless of fluctuations in potash price.”

To view the press release with the photographs please use the following link:
http://www.rns-pdf.londonstockexchange.com/rns/8026K_1-2019-9-1.pdf

 

 

For further information, please visit www.emmersonplc.com, follow us on Twitter (@emmerson_plc), or contact:

Hayden Locke
Edward McDermott
Emmerson Plc
Tel: +44 (0) 207 236 1177

Jeremy King
Joint Broker
Optiva Securities Limited
Tel: +44 (0) 3137 1904

Damon Heath
Isabella Pierre
Shard Capital Partners
Tel: 020 7186 9950

Gaby Jenner
Melissa Hancock
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.

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