Canadian resource development junior Stans Energy Corp., Toronto, said it has signed a Memorandum of Cooperation (MOC) with Russian company TradePromService LLC (TPS) for an option to acquire 100 percent of the Yakshinskoye potash deposit in the Komi Republic in northwest Russia.
Stans and TPS have agreed to undertake a project development program, which will result in a NI 43-101 compliant measured mineral resource estimate, a pilot ISL production testing, and a bankable feasibility study upon completion of the first two steps, Stans said in a Dec. 7 statement.
It said the option agreement negotiations will begin upon completion of the measured mineral resources report. Funding for the steps prior to the option agreement is the obligation of TPS.
Stans cited the JORC report prepared by Germany’s Ercosplan Group in July 2015 using data from 18 drill holes, and which estimates the indicated mineral resources of the Yakshinskoye potash deposit at Sylvinite: 189 million mt at 23.9 percent KCl; and Carnallite: 935 million mt at 13.9 percent KCl.
The pre-feasibility study prepared by Ercosplan in December 2015 recommends solution mining as the best option for the carnallite horizons which should be mined at phase one of deposit development. Ercosplan provided a business-financial model for a 1 million mt/y production rate.
Stans describes itself as a resource development company focused on advancing rate and specialty metals properties and processing technologies.