Vatic’s “Saksrithai” project covers an area of 32 km² in Nakhon Ratchasima province, northeast Thailand, approx. 270 km from Bangkok. The project area is contiguous to the Dan Khun Thot project, presently under development by Thai Kali Ltd, where a high grade carnallite-sylvinite reserve (with potash grades of up 35.2% KCl encountered in drilling) has been delineated. It is reported that the potash ore is mainly carnallite, enriched by the presence of sylvinite.
The initial resource evaluation phase, comprising the initial seismic survey, geological survey and interpretation, initial diamond-drilling programme (10 to 12 holes), baseline environmental studies and local community programmes, commenced March 2017. The initial seismic survey was completed by early-May. Phase 1 of the project, with a budget of US$ 1.5 million, includes the completion of a pre-feasibility study and estimation of a ‘potash resource’. Phase 2 (budget of up to US$ 5 million) includes additional seismic and drilling programmes, EIA, mining, processing, transportation and marketing studies, leading to a bankable feasibility study and defined ‘potash reserve’.