- Millennial Potash (MLP) has received a new interpretation of 2D historic seismic data from its Gabon-based Banio Potash Project
- The reinterpretation indicates relatively flat-lying stratigraphy with minor disruptions and identifies the top and base of the target stratigraphy, the potash-bearing Salt Sequence
- The Salt Sequence thickens to the south to as much as 800 m and has the potential to host all 10 potash-bearing cycles, presenting an attractive target for additional drilling and potential resource definition
- Millennial Potash is developing its flagship potash project in Gabon in the West Africa Potash Basin
- Millennial Potash (MLP) last traded at $0.47
Millennial Potash (MLP) has received an interpretation of historic 2D seismic data from its Banio Potash Project in Gabon.
The interpretation, completed by U.K.-based consultancies GeoPeople and SW Geophysics, shows simple stratigraphy with relatively flat-lying strata that can be correlated between drill holes, outlining extensive zones that have the potential to support a large potash resource. The seismic data for Banio was provided by three historic surveys compiled by French oil and gas company Maurel and Prom in 2011-2012.
The focus was to define the top and base of the targeted Salt Sequence, which hosts the carnallite and sylvite seams. The 3D modelling of the seismic data clearly indicates that the Salt Sequence thickness is between 300 m and 400 m in the north and over 800 m in the south. The confirmation that the Salt Sequence thickens to the southeast increases the potential for that portion of the license to host a more complete and thicker set of potash cycles compared to the identification of only Cycles VII to V in the 2017 drilling campaign.
The seismic reinterpretation data will be compiled into the 3D geological model for Banio, which will be utilized for future drilling planning and extrapolation of potash-bearing cycles in potential future resource estimates.
Millennial Potash is developing its flagship potash project in Gabon in the West Africa Potash Basin.
Millennial Potash (MLP) last traded at $0.47.
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