Chelkarskaya
As announced on 22nd February 2011, Fortis Mining has entered into a binding Heads of Agreement to acquire the rights to the Chelkarskaya Potash Deposit.
About the Deposit
The Chelkarskaya Potash Deposit is located in the Terektinsskiy district, in the western region of the Republic of Kazakhstan and is 98 km south of the regional city of Uralsk.
Geologists from the former Soviet Union identified the area during the 1950’s. Work defining the mineralisation has included drilling of approximately 220 drill holes on grid spacing varying between 1000m x 1000m to 200m x 200m, chemical analysis of drill samples, seismic surveying and hydrological studies.
The area is secured by a binding contract, covering an area of approximately 779 sq km, for the exploration and production of potassium salt. The contract provides for an exploration period of 6 years and a production period of 45 years (including 4 years of processing plant development).
The potash horizons are located in the Chelkarskaya Deposit within sequence chemical and clastic sediments. Mineralisation in the form of Sylvinite, Carnallite-Sylvinite and Polyhalite occurs at a depth of approximately 300 – 700 metres below the surface. In addition to potash and magnesium salts, a separate boron salt layer has been identified.
Resource Figures
Note: Resource figures have been calculated from the former Soviet Union and the Republic of Kazakhstan Ministry of Energy and Mineral Resources for the Deposit. These are not JORC standard resources and supporting documentation has not yet been verified by the Company in accordance with JORC Code, and it should only be considered at this stage indicative of the scale of the project the company is acquiring. The company’s main priority is to establish JORC standard Resources and Reserves for each deposit. The estimated exploration target ranges mentioned above for the Chelkarskaya Salt Deposit should not be misunderstood or misconstrued as an estimate of Mineral Resources or Ore Reserves. The potential quantity and grade of exploration targets are conceptual in nature since there has been insufficient work completed to define them beyond exploration targets and that it is uncertain if further exploration will result in the determination of a Mineral Resource or Ore Reserve.
