Sierra del Perdon

The Sierra del Perdón (“SdP”) Project is located south east of Pamplona and covers approximately 145km2. SdP is a brownfields project which previously hosted two potash mines operating from the 1960s until the late 1990s producing nearly 500,000 tonnes of K60 MOP per annum.
There is potential for potash exploitation in new, unmined areas in the SdP Project area.
Two new exploration drill holes are continuing at SdP, SdP-007 and SdP-017.
After a number of years of exploration work, the Company has now reached the point where it will focus further work on the most prospective areas of SdP and will relinquish the less prospective part of the tenements. The results of the drilling in progress will be incorporated into an exploration plan for the next 3 years in support of an application for extension of the current permits that will expire in September 2018.

JORC Study of Mineral Resources

The independent geology and engineering consultancy Agapito Associates has completed a JORC estimate of mineral resources, on April, 2015.

Classification of resources Total estimate total (Mt) K20 %
M&I (measured + indicated) 41.8 10.7
Inferred 40.3 10.5
Total 82.1 10.6