Australian Potash (ASX:APC) - Managing Director & CEO, Matt Shackleton
Managing Director & CEO, Matt Shackleton
Source: YouTube
Market Herald logo


Be the first with the news that moves the market
  • Australian Potash (APC) reports “significant” gold results from diamond drilling undertaken at the Lake Wells joint venture in Western Australia
  • Final assays have returned grades of up to 26.9 grams of gold per tonne
  • The work will be followed by a planned 16-hole diamond drill program
  • A field crew and drill rig will be mobilised in the first quarter of the 2022 financial year
  • Shares are up by two per cent at 12.3 cents each at 3:31 pm AEST

Australian Potash (APC) has reported “significant” results from diamond drilling undertaken at the Lake Wells Gold Project in Western Australia.

The work was completed by APC’s joint venture partner and fellow ASX-player St Barbara (SBM) with final assays returning notable intercepts.

The results included 1.9 metres at 14.35 grams of gold per tonne (g/t) from 73.5 metres, which also contained one metre at 26.9g/t from 73.5 metres.

Follow-up drilling has since been planned to further comprehend the geographical scale of mineralisation at Lake Wells, with a field crew and diamond drill rig set to be mobilised in the first quarter of the 2022 financial year.

Commenting on the latest results, Australian Potash Managing Director and CEO Matt Shackleton said gold grades seen in only the second hole drilled at the project were very encouraging.

“The Yamarna Shear Zone hosts numerous gold deposits, including the Golden Highway, strongly supporting the exploration model being followed by St Barbara,” he said.

“We look forward to the 2022 financial year program and these additional diamond drill holes as we better understand the significance of what has been uncovered.”

The follow-up program will comprise up to 16 diamond drill holes over roughly 4200 metres.

The future work will be accompanied by associated assay and geochemical analyses, structural logging and lithological analysis to understand the scale and significance of the mineralisation discovered so far.

On Tuesday, shares were trading two per cent higher at 12.3 cents each at 3:31 pm AEST.

APC by the numbers
More From The Market Herald

" Antipa Minerals (ASZ:AZY) completes drilling at Minyari

Antipa Minerals (AZY) has completed an extensive drilling campaign at the Minyari Dome Project, discovering multiple new gold-copper intersections.
Dreadnought Resources (ASX:DRE) Luke Blais

" Dreadnought Resources (ASX:DRE) uncovers five carbonatite intrusions at Mangaroon

Dreadnought Resources (DRE) has identified five carbonatite intrusions at the Mangaroon Project in the Gascoyne region of Western Australia.

" Horseshoe Metals (ASX:HOR) completes ASX requirements for potential relisting

Horseshoe Metals (HOR) has completed the activity requirements for the ASX to consider lifting its suspension from trading.
Renascor Resources (ASX:RNU) - Managing Director, David Christensen

" Renascor Resources (ASX:RNU) reports higher yields for Siviour Project

Renascor Resources (RNU) has reported higher yields and higher prices for its purified spherical graphite.