Total
0
Shares
Source: South Harz Potash
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • South Harz Potash (SHP) secures permit to begin drilling at its Ohmgebirge Project in Germany
  • With the nod from the State Office for the Environment, Mining and Nature Conservation, SHP has advised its drilling contractor to begin drilling the first of two planned holes
  • The permit to drill the second hole is pending, however SHP is hoping to upgrade the current mineral resource estimate of the project once results from both holes are received
  • Shares have been trading 20.6 per cent higher at 20.5 cents

South Harz Potash (SHP) has secured the necessary permits to begin drilling at its Ohmgebirge Project in Germany.

The project is located in the South Harz Potash district region of the Free State of Thuringia and SHP is aiming to upgrade the current JORC 2012 inferred mineral resource estimate to the indicated category.

With the nod from the State Office for the Environment, Mining and Nature Conservation, SHP has advised its drilling contractor to begin drilling the first of two planned holes.

Moving forward the permit is reportedly conditional on the complete remediation of the drill site, grouting of the drill hole post-drilling and prevention of contamination of soils and water.

The company said these conditions have been allowed for in the drilling program and budget, and further discussions are being held with the drillers to ensure compliance.

Drilling of the first hole is planned to a depth of 665 metres, targeting the known potash horizon in the area which is expected to take up to 10 weeks to complete, costing $3.5 million.

Through drilling, SHP hopes to recover potash core from depth to assist in verifying historical data from the 1980s.

Following the first drillhole, the second has been designed to twin a historical drillhole which reportedly recorded 5.5 metres at 14.4 per cent potassium oxide.

The company put forward an application for the second drillhole in July 2021 and while confirmation is pending, it anticipates drilling will begin immediately after the first hole is complete.

Once results from both holes are received, SHP expects to be able to upgrade the current mineral resource estimate, and subject to advancement of all modifying factors would allow the release of a scoping study by the end of quarter one of calendar year 2022.

Managing Director Chris Gilchrist said receiving the drilling permit is a major step forward for the company.

“Drilling at OHM-02, and eventually OHM-01 provides us with a clear path forward, allowing South Harz to fully evaluate Ohmgebirge and secure the necessary information required to complete a preliminary technical and economic viability assessment.”

Shares were trading 14.7 per cent higher at 19.5 cents at 10:59 am AEDT.

SHP by the numbers
More From The Market Herald
The Market Herald Video

" Orange may be the new gold

One of the latest explorers to head to the ASX is Perth-based Orange Minerals with listing anticipated as soon as next week.
Pan Asia Metals (ASX:PAM) - Managing Director, Paul Lock

" Pan Asia Metals (ASX:PAM) announces latest drilling results from Reung Kiet lithium project, Thailand

Pan Asia Metals (PAM) has released lithium drill results for four holes from its Reung Kiet project in southern Thailand.
Vango Mining (ASX:VAN) - Executive Chairman, Bruce McInnes

" Vango Mining (ASX:VAN) unveils further gold intersections at Marymia

Vango Mining (VAN) has unveiled further gold intersections from an ongoing open-pit drilling campaign at its Marymia Gold Project in the mid-west region

" Pursuit Minerals (ASX:PUR) gets final assays from Phil’s Hill

Pursuit Minerals (PUR) has confirmed a silver sulphide mineralising system at its Phil’s Hill prospect in Western Australia following receipt of the final