Potash miner Sirius makes good drill hole progress

The company said its SM3 hole reached its final casing depth in just 10 days, compared with 40 days for SM2, its second hole.

Chris Fraser, managing director and chief executive of Sirius, said: “We are delighted with the progress on SM3. This has helped us to claw back some of the time and budget we had to put aside after the experience at SM2.

“Our experienced and professional team is continually adapting its approach to help ensure the drilling work is delivered as quickly and as efficiently as possible.”

The firm hopes to mine huge deposits of potash – salts that contain potassium – from beneath the North Yorkshire coast. Potash is a key ingredient in fertiliser as well as a number of industrial processes including soap, glass and ceramic manufacturing.

Sirius added a second coring rig commissioned by the company’s retained drilling contractor is now complete and undergoing final maintenance and equipment checks.

It hopes the rig will move from suppliers in southern Europe by the end of the month and arrive at the end of March.

The second coring rig should help speed up the completion of the York Potash Project drilling programme, it added.