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 has been delineated.
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’.