The total estimate is 232 million tonnes of sylvinite grading 38.1% KCI, comprising of an indicated mineral resource of 111Mt sylvinite at a grade of 37.2% KCI and an inferred mineral resource of 121Mt sylvinite at a grade of 38.9% KCI.

The deposit is 15km from the Kola project's planned processing and export facility and is contained within two horizontal sylvinite streams, the Hangingwall seam and the Top seam, with the former having a very high-grade and containing 67Mt grading 60.1% KCI.

Kore said the sylvinite had extremely low amounts of insoluble material and magnesium at less than 0.3% and 0.1% respectively, which was advantageous for low cost muriate of potash (MoP) production.

"The Dougou extension mineral resource has potential to provide additional feed to increase the processing life at the planned Kola project and/or to contribute to an increase in scale of the Kola project. These options are planned to be assessed by the company following completion of the Kola definitive feasibility study," the company said.

With Kore's other two deposits, Kola and Dougou carnalite, the new estimate increases the company total sylvinite mineral resource by 27% to 1.08 billion tonnes at an average grade of 35.5% KCI.

Kore CEO Brad Sampson said the mineral resource estimate reinforced the company's view that the new basin hosts large globally important, shallow, and high-grade potash deposits.

"With the development of Kola our primary focus, this new deposit creates potential for sylvinite from Dougou extension to be processed at the planned Kola facility and provides yet more evidence that the start of production from this world-class basin will be a disruptive force in the fertiliser sector for decades to come," he said.

Kore shares rose by 5.2% to A7.9c in Australia today. The company is also listed on London's AIM and in Johannesburg.