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.

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.

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.

MF

Recommended

Best junior stocks and shares ISA platforms
Isas

Best junior stocks and shares ISA platforms

A junior stocks and shares ISA is a great way to save for your child tax-efficiently. But it can be confusing deciding which investment platform to ch…
25 Nov 2022
Share tips of the week – 25 November
Share tips

Share tips of the week – 25 November

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
25 Nov 2022
Investing in a recession: 5 moves investors should make now
Investment strategy

Investing in a recession: 5 moves investors should make now

As we enter a recession, here’s what investors should do with their portfolios.
23 Nov 2022
It’s time to focus on Fuller’s
Share tips

It’s time to focus on Fuller’s

The pub sector has had a torrid two years, but this group is resilient and poised to prosper. We take a closer look at Fuller’s.
21 Nov 2022

Most Popular

Wood-burning stove vs central heating ‒ which is cheapest?
Personal finance

Wood-burning stove vs central heating ‒ which is cheapest?

Demand for wood-burning stoves has surged as households try to reduce their heating costs this winter. But how does a wood burner compare with central…
21 Nov 2022
Fan heater vs oil heater – which is cheaper?
Personal finance

Fan heater vs oil heater – which is cheaper?

Sales of portable heaters have soared, as households look to cut their energy costs. But which is better: a fan heater or an oil heater? We put them t…
21 Nov 2022
Best savings accounts – November 2022
Savings

Best savings accounts – November 2022

Interest rates on cash savings are making a comeback. We look at the best savings accounts on the market now
28 Nov 2022