A scoping study on the Carnegie potash project in Western Australia confirmed the project as technically and economically viable and estimated a maiden resource and an exploration target.
The project is held under a joint venture, owned 70% by Kalium Lakes Ltd. and 30% by and BCI Minerals Ltd.
The study estimated an inferred resource of 880,000 tonnes sulfate of potash at 3,466 milligram per liter potash, equivalent to 7,724 mg/l sulfate of potash, according to the joint July 27 news release.
An exploration target was also pegged at between 3.47 million and 7.33 million tonnes sulfate of potash at 3,410 mg/l to 3,420 mg/l potash.
The joint venture will now work on a staged pre-feasibility study during the next 12 to 18 months, which will initially focus on securing tenure and access to all required tenements.