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.

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