Elemental acquires extensive regional oil industry exploration data and has generated new exploration targets

Elemental Minerals Ltd. (ASX, TSX: ELM) (“Elemental” or the “Company”) is pleased to announce that it has completed the acquisition of recent regional oil industry 2D seismic and borehole data and has undertaken target generation for its Phase 3 exploration programmes for the Kola and Dougou areas.

–  The Company has acquired 295 line kilometres of recent oil industry regional 2D seismic data on the Sintoukola license area and data for a further nine historic and recent potash and oil exploration boreholes, which have allowed a high quality target generation exercise to be undertaken.

–  The initial target generation exercise delineates two potentially significant potash domains; one surrounding and contiguous to the existing Kola deposit (Kola High), and the other to the south west, namely the Dougou area (Dougou Rise).

–  The Kola High priority one target is now interpreted to have an
aerial extend of approximately 120km2 which represents a 200% increase of the area currently explored.

–  At the newly interpreted Dougou Rise the priority target one horizon includes a targetable mineralisation footprint of approximately 75km2.

–  The target areas are supported by reports of intercepted potash mineralisation (sylvinite and carnallitite) and corresponding down hole gamma logs.

Eemental has acquired 295 line kilometres of high quality 2D oil industry
seismic data that covers approximately 750km2 of the license area (Figs 1 and 2). Elemental has also acquired bore hole data and information relating to 9 exploration boreholes including historic and recently drilled holes inside the area of seismic coverage, which serve as geological controls to the seismic interpretation. The acquisition of this new data marks the commencement of the Company’s exploration programme over the greater license area for which a new structural and mineralisation target model has been developed.

The initial target generation exercise conducted by CSA Global includes a
regional structural framework based on the newly acquired seismic and borehole data (Fig 2) which delineates two areas of interest (Kola High and Dougou Rise) bound by either synclinal warping or normal/graben type faulting. These two domains seem to be different structurally in that the Kola High appears to represent a gentle anticlinal structure while the Dougou Rise presents a “flat” platform type environment very gradually tilted to the southwest and separated by a normal fault and the Dougou half-graben in the northeast from the Kola High (Fig 3).

The new Kola area seismic interpretation indicates stratigraphic-structural continuity and potential for further extension of the area prospective for potash mineralisation targeted surrounding the Kola deposit to the northwest, west and southeast, increasing the target footprint from approximately 60 km2 as defined by the exploration programme currently underway to approximately 120km2. The newly defined Dougou Rise covers an area of approximately 75km2. The evaporite sequence at the Dougou Rise is approximately 100m deeper
than the Kola High.

The drill hole information confirms the development and presence of variable amounts of potash mineralisation in the form of sylvinite and carnallitite in both newly delineated target areas. The records refer to layers of sylvinite and/or carnallitite developed in the same stratigraphic position as the mineralisation at Kola which are further supported by highly anomalous gamma readings over the corresponding depth intervals (Figs 3 and 4). No analytical results are available for any of the potash intervals and therefore require confirmation by way of drill testing.

SOURCE Elemental Minerals Limited

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