Australia’s FYI moves to secure Thai potash licences

PERTH - Australia’s Perth-based FYI Resources Ltd has lodged applications for Special Prospecting Licences (SPLs) covering potential high grade potash targets in the northeast of Thailand – which is a net importer of fertiliser for its considerable agricultural industries.

FYI described the applications in Khorat Plateau province as a key follow-on from a decision in November 2013 to add a Southeast Asian potash strategy to the company’s existing uranium exploration pursuits in Western Australia.

FYI said the applications cover 96 sq km in Thailand’s northeast where proven but heavily under-explored deposits include the existence of an underlying evaporite basin in which shallow potash bearing horizons have been identified from historic and extensive regional diamond drilling. www.fyiresources.com.au (ATI).