Junior lithium development company Zenith Minerals, West Perth, Western Australia, on April 25 reported a new Yalgoo potash brine project in Western Australia, with the company securing three 100 percent owned exploration licenses.
“Whilst assessing regional government geophysical data on our Waratah Well lithium project, the technical team identified a very large potash brine target located southeast of Yalgoo, adjacent to the main Mt. Magnet/Geraldton Road,” said Zenith Managing Director Mick Clifford.
“If drill testing is successful in confirming the presence of sub-surface potash rich brines, then this project has a potential major logistical advantage over competitor projects being located only 250 kilometers from the port of Geraldton,” he continued. “Most competitor Western Australian potash brine projects are located hundreds of kilometers from port facilities, with the transport of potash product to coastal port being a significant component of the total operating costs of these projects.”
However, Zenith said it was developed as a pure lithium company and that it plans to eventually demerge any non-lithium projects, including potash, base metals, and gold, into one or more new companies to be listed on the Australian Stock Exchange.