Sirius Minerals cores key hole at York Potash Project mine site

AIM-listed globally diversified potash development company Sirius Minerals has completed the coring of the "mother hole" at SM11, a mine site at its York Potash Project.

The company, whose primary focus is to bring on-stream major potash mining facilities through the acquisition and development of projects overlying recognised potash deposits, reported that an intersection had been cored through the shelf seam of polyhalite at the mine site.

Wireline logging of borehole provided preliminary seam data and the company reported that 26.6 metres of polyhalite had been intersected in two seams which averaged 87.8% polyhalite and which were separated by 5.7 metres of anhydrite.

Chris Fraser, Managing Director and Chief Executive Officer of Sirius, commented: "This is an extremely encouraging result as this is a sample of the first ore to be mined at the bottom of the shafts and is further confirmation of the high quality nature of this unique multi-nutrient deposit.

"A deflection from this hole is now planned which, if consistent and combined with the assay results from cores recovered, should deliver an upgrade to the resource estimate."

Sirius' share price was up 3.03% to 25.50p at 13:27 on Tuesday.

MF