Reward Minerals holds a number of highly prospective tenements acquired as a part of the Company’s project pipeline expansion and include Lake Dora, Lake Winifred and Lake Auld which were identified through the review of the Geoscience Australia 2010/12 Record survey. All of the prospects are a part of the same palaeoriver system which is believed to emanate from the Officer Basin.
Preliminary auger sampling has been completed at most of these prospects. Potassium bearing brines were retrieved at four lake sites. Of particular interest were the Potassium grades returned at Lake Auld which in some instances were up to three times of those at LD. However this Project is comparatively isolated and will be retained for later development.
Refer to announcement dated 10 December 2013 for full details of results
The Company completed two drilling campaigns at its Dora Project during 2014 where a total of 16 holes were drilled to identify the dimensions of the high conductivity brine zone in the region believed to pass through Lake Dora proper before continuing north-west to the Waukarlycarly embayment. From the preliminary data available and using a cut-off figure of 2g/litre Potassium (4.46g/litre SOP) the Palaeochannel width in the Dora West prospect is approximately 6km and appears to transect the northwest/southeast length of the tenements (~25km).
Refer to announcement dated 10 November 2014 for full details of results
Brine flows were generally low until the holes reached around 60m vertical depth and continued to improve (cumulatively) with the depth penetration thereafter. Assay results, while undersaturated, returned favourable chemistry for the production of SOP. Although dilution is not ideal, favourable evaporation conditions in the region counteract the dilution effect of surface waters to a significant degree.
While the Company believes that there is substantial resource potential at the Dora Project and that these regional projects provide a high quality project pipeline for the Company, it is focussed on the timely advancement of its flagship LD Potash Project.