Sirius Minerals completes coring at York Potash project

AIM-listed Sirius Minerals has completed the coring of the deflection SM11A mine site at the York Potash Project, an operational update has disclosed.

AIM-listed Sirius Minerals has completed the coring of the deflection SM11A mine site at the York Potash Project, an operational update has disclosed.

Drilling of SM11A commenced on March 8th 2013 following the completion of the parent hole SM11.

Subscribe to MoneyWeek

Become a smarter, better informed investor with MoneyWeek.

Coring of the Fordon Evaporites commenced on March 14th 2013 from 1450.1m below rotary table down to 1592.5m below rotary table.

Polyhalite was intersected between 1507.69m and 1564.84m below rotary table.

Advertisement
Advertisement - Article continues below

Polyhalite is a multi-nutrient mineral containing four of the six macro nutrients required for plant growth.

Some 41.6 metres of 86% polyhalite was intersected in three seams separated by two anhydrite bands with a combined intersected thickness of 15.6m. The company reported that there was 100% core recovery.

The company further reported that preliminary results showed a strong correlation between SM11 and SM11A, confirming the continuity of the orebody over mining distances which independent geologists SRK expects will enable the upgrading of a significant portion of the current inferred resource to the indicated resource category.

Chris Fraser, Managing Director and Chief Executive Officer of Sirius said: "The completion of this deflection and the strong correlation is a further endorsement of the quality and geological consistency of the York Potash polyhalite orebody. We look forward to the important upgrade to indicated resource in the near future."

Sirius Minerals' share price was down 1.09% to 22.75p at the close of trading on Friday.

Advertisement
Advertisement - Article continues below
Advertisement

Recommended

Visit/investments/investment-strategy/600861/how-demographics-affects-stock-valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Visit/investments/stocks-and-shares/600863/sirius-minerals-anglo-american-takeover
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020
Visit/investments/stockmarkets/600634/why-investors-should-be-cautiously-bullish-for-2020
Stockmarkets

Why investors should be “cautiously bullish” for 2020

Analysts have been out in force making rosy predictions for stockmarkets in 2020, but while there is certainly a case for optimism, investors should r…
17 Jan 2020
Visit/investments/stocks-and-shares/share-tips/600636/class-acts-going-cheap-buy-into-europes-best
Share tips

Class acts going cheap: buy into Europe’s best bargains

Value investing appears to be making a comeback, while shares on this side of the Atlantic are more appealing on metrics such as price/earnings ratios…
16 Jan 2020

Most Popular

Visit/investments/property/601065/what-does-the-coronavirus-crisis-mean-for-uk-house-prices
Property

What does the coronavirus crisis mean for UK house prices?

With the whole country in lockdown, the UK property market is closed for business. John Stepek looks at what that means for UK house prices, housebuil…
27 Mar 2020
Visit/investments/commodities/gold/601037/gold-is-on-a-wild-ride-so-should-you-be-buying
Gold

Gold is hard to find right now – so should you be buying?

With demand through the roof and the physical metal hard to find, it's not the best time to buy gold. But right now, says Dominic Frisby, you want to …
25 Mar 2020
Visit/economy/eu-economy/601060/the-european-central-bank-throws-away-the-rulebook-to-bail-out-italy
EU Economy

The European Central Bank throws away the rulebook to bail out Italy

The ECB has removed all constraints on asset purchases and will now buy “whatever it takes” to tackle the coronavirus. John Stepek explains what it me…
26 Mar 2020
Visit/trading/601011/international-consolidated-airlines-a-buy-for-the-brave
Trading

International Consolidated Airlines: a buy for the brave

International Consolidated Airlines, BA’s parent company, is dirt cheap and well placed to recover. Here's how to play it.
23 Mar 2020