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https://www.allanapotash.com/s/News.asp?ReportID=569007
Summary of Mineral Reserve and Resource Estimates Update
The Company also announces that as a result of the proposed mine plan and favourable economic results developed in the FS, portions of the previously reported measured and indicated sylvinite mineral resource estimates have been upgraded to proven and probable sylvinite mineral reserves. Estimates of the updated mineral reserves and mineral resources were completed by ERCOSPLAN based on a Radius of Influence (ROI) as per industry standards. The following Tables outline the current estimated sylvinite mineral resources and proven and probable sylvinite mineral reserves. All Measured and Indicated Sylvinite Resources were converted to Reserves.
Summary of Mineral Resource Estimates effective as of February 2, 2013
| RESOURCES |
TONNES (MT)
(in-situ) |
KCL (%) |
KCL (MT) |
| Measured |
115.31 |
27.8 |
32.0 |
| Indicated |
212.11 |
28.6 |
60.7 |
| Inferred |
90.76 |
27.8 |
25.2 |
*ROI for measured, indicated and inferred Sylvinite mineral resource estimates are 350 metres, 750 metres and 1500 metres respectively. Cut-off grade is 15% KCl, minimum width is 1.5 metres, density average 2.15
Mineral resources which are not mineral reserves do not have demonstrated economic viability. The estimates of mineral resources may be materially affected by environmental, permitting, legal, title, taxation, sociopolitical, marketing, or other relevant issues.
The quantity and grade of reported inferred resources in this estimation are uncertain in nature and there has been insufficient exploration to define these inferred resources as an indicated or measured mineral resource and it is uncertain if further exploration will result in upgrading them to an indicated or measured mineral resource category
Summary of Mineral Reserve Estimates effective as of February 2, 2013.
| RESERVES |
MINEABLE TONNES (MT)** |
KCL (%) |
MOP (M TONNES) |
| Proven |
32.97 |
28.0 |
8.2 |
| Probable |
60.81 |
28.8 |
15.5 |
| TOTAL |
|
|
23.7 |
** Accounts for losses in the caverns as well as in pillar material between caverns.
*ROI for Proven and Probable Sylvinite Mineral Reserves are 350 metres and 750 respectively. Cut-off grade is 15% KCl, minimum width is 1.5 metres, density average 2.15, potash price of $430/tonne and other key assumptions listed above.
The estimates of mineral reserves may be materially affected by environmental, permitting, legal, title, taxation, sociopolitical, marketing, or other relevant issues.
The Proven and Probable Reserves from Sylvinite zone alone are adequate to support production of 1 million tonnes per year of MOP for approximately 25 years. Pilot testwork continues on site as a second solution mining well is currently leaching the Upper Carnallitite unit to provide data on the production of MOP from a Carnallite-rich brine. The results of this study will be used for potential increase in production tonnage in the future.
The FS, with a cost estimate accuracy of +/- 15%, was completed by ERCOSPLAN, a widely recognized world leader in potash exploration techniques and potash mining and processing. In addition to Allana, ERCOSPLAN's clients include some of the largest potash exploration companies and potash producers in the world. An NI 43-101 technical report with respect to the FS (the "FS Technical Report") and the mineral resource and reserve estimates forming the basis of the FS report will be available under the Company's profile on SEDAR and Allana's website within 45 days of this news release.
The Feasibility Study and the mineral resource and reserve estimates were completed by ERCOSPLAN under the supervision of Dr. Henry Rauche, Ph.D., EurGeol, Managing Director, CEO ERCOSPLAN and Dr. Sebastiaan van der Klauw, Ph.D., EurGeol., Consulting Geologist, ERCOSPLAN who are both independent Qualified Persons for the purposes of National Instrument 43-101. Peter J. MacLean, Ph.D., P. Geo., Allana's Senior VP Exploration, is the Company's designated Qualified Person for the purposes of the Feasibility Study and has reviewed and approved the technical information presented in this release.