South Harz Potash Ltd (ASX:SHP) has achieved a landmark resource upgrade for the flagship Ohmgebirge potash deposit within the South Harz Project in Germany, converting more than half of the resource into the indicated category.
The Ohmgebirge resource was upgraded from 325 million tonnes at 13.2% potassium oxide (K2O) to 338 million tonnes at 12.9%.
The more significant part of the upgrade was the recategorisation of 76% of Ohmgebirge’s resource to the higher indicated category, representing 258 million tonnes at 13.5% K2O – the first portion of the resource to achieve this level of surety.
“Comfortably exceeded our expectations”
“The updated mineral resource estimate for Ohmgebirge comfortably exceeded our expectations, particularly with respect to the level of conversion to indicated categorisation classification,” South Harz acting executive chair Ian Farmer said.
“It is a significant validation of the construction and execution of our confirmatory drilling program earlier this year – and a ready demonstration of its success.
“It also further substantiates our confidence in the value of the data suite of over 300 historical drill holes which we acquired as part of our portfolio of perpetual mining licences at South Harz.
“With 89% of the key focus sylvinite seam resource classified as indicated, we are now very well placed to finalise our mine scheduling workstream and complete the Ohmgebirge Scoping Study, which is on track to be achieved early next month.
“We look forward to presenting the final physical and financial outcomes from this critical technical and economic evaluation of the planned Ohmgebirge potash development.”
Potash is one of the core ingredients of fertiliser, a commodity that has become all the more important due to shortages caused in part by Russia’s invasion of Ukraine – the two countries between them produce 28% of global fertilisers made from nitrogen, phosphorous and potassium (potash).