African Potash acquires seismic data at Lac Dinga

20th Mar 2014 13:09

In its first announcement of the year, AIM-listed African Potash announced it had acquired seismic data at its exploration site at the Lac Dinga project in the Republic of Congo. The data was described as a "positive step" towards finalising an initial exploration programme on the project and will enable it to delineate areas for drilling. It will also support its on-ground exploration activities at its flagship potash project.The company's Chief Executive, Edward Marlow, said: "The acquisition and interpretation of the newly acquired data will allow the company to interpret the Lac Dinga area in a regional geological context, and provide a solid platform for the next stage of exploration, that has the potential to prove the highly prospective nature of the asset. "The Congo Basin is underlain by an extensive evaporate sequence, which is the repository for potentially vast potash mineralisation as indicated by historical, basin-wide exploration drilling. To date, the company's exploration efforts have been confined to generating the foundations for targeting, but we are now in a position to take a positive step forward with a new on-ground exploration programme, designed to confirm the prospectivity expectations."The data covers an area of around 470 square kilometres of the licence area, alongside bore hold data and information relating to two oil exploration boreholes including historic and recently drilled holes. Shares rose 6.15% to 3.45p by 13:30 Thursday. NR