Western Potash Corp. begins resource definition drilling and 3D seismic at Milestone, 4th well intersects a composite thickness of 25m of potash mineralization
Posted by Press Release Distribution Staff
(EMAILWIRE.COM, October 09, 2009 ) Vancouver, BC - Western Potash Corp. (the "Company") (TSX.V: WPX, FSE: AHE) is pleased to announce that it has initiated a resource definition drill program consisting of 5 wells in the area surrounding the Milestone-003 well which intersected a composite thickness of 24.4m of potash mineralization with a grade of 18.2% wt K2O, as reported in a press release dated August 24, 2009. The Company's wholly-owned Milestone property, comprising 500 square km in area, is located approximately 30 km southeast of Regina, and is southeast of Mosaic's Belle Plaine Mine, one of the largest producing potash solution mines in the world.
The Company's board has approved an $8.5 million CAD budget for this program and is expecting to produce an NI-43-101 compliant inferred resource calculation during Q4 2009. The Company will also complete an NI-43-101 compliant indicated and inferred resource calculation based on the results of the expanded 5 well resource definition drill program, 2D seismic, and 3D seismic surveys. This report is expected to be complete during early 2010, dependant on the completion and results of the aforementioned drilling and seismic surveys.
The Company also reports the completion of the first well in the current resource definition program. The Milestone-004 well is the fifth well drilled on the Milestone property and is located approximately 3.0 km to the south of the Milestone-003 well which reported a composite thickness of 24.4m of potash mineralization with a grade of 18.2% wt K2O.
Coring of the Milestone - 004 well has intersected the Prairie Evaporite Formation at a verticaldepth of 1,727.6 m. Visual geological evaluation of the core in conjunction with down-hole gamma ray logs indicate strong potash grades, very low carnallite content, and very promising minimum formation temperatures of 60° C within the two upper members, with some carnallite present in the Esterhazy member. The following potash member thicknesses are indicated by the down-hole gamma ray logs:
[ TABLE NOT AVAILABLE ]
All drill intercepts noted in this release are considered the true thickness of the mineralization; as the salt beds are relatively flat-lying and down-hole directional surveys indicate the hole was essentially vertical upon intersecting the salt and potash sequences.
The Company sees the presence, thicknesses and indicated grade of the potash beds in this fifth well as a significant result when taken in conjunction with the results reported for the first four wells. The Company feels that the thicknesses and grades obtained by geochemical sampling and down hole gamma ray logging are consistent with those mined at the Belle Plaine solution mine and that it has now demonstrated regional continuity of all three potash members, over 15.5km of strike length, between the first and fifth wells.
A 2D seismic survey is being carried out over this priority area in conjunction with the current drill program. The Company plans to also complete a 3D seismic survey over this priority area to be used with the NI-43-101 compliant resource calculation.
The Company is also pleased to announce that it has engaged Agapito and Associates Inc. of Golden, Colorado to complete an NI43-101 compliant inferred resource calculation and report based on the results of the initial four well drill program. This report is expected to be completed during the fourth quarter of 2009. Agapito and Associates will also complete an NI-43-101 compliant indicated and inferred resource calculation based on the results of the expanded 5 well resource definition drill program, 2D seismic, and 3D seismic surveys. This report is expected to be completed during early 2010, dependant on completion of the aforementioned drilling and seismic surveys.
Further to the Company's news release of September 25, 2009, the Company would like to announce that it has received approval from the TSX Venture Exchange to extend 44,739,000 warrants at a price of $0.75. The expiry date has been extended from October 15, 2009 to April 15, 2011.
Western Potash Corp. is a mineral exploration company engaged in the evaluation, exploration and development of potash mineral properties in Western Canada. The Company intends to define and develop a world-class potash deposit in an ecologically sustainable, economically efficient and socially responsible manner.
The in-house qualified persons for the purposes of NI 43-101 guidelines are J. Patricio Varas, P. Geo and Dean Pekeski, P. Geo, both of whom have reviewed and approved the contents of this news release. For more information on Western Potash Corp.'s projects, please visit the Company's website at: www.westernpotash.com
ON BEHALF OF THE BOARD OF DIRECTORS
"J. Patricio Varas"
J. Patricio Varas
President and CEO
This news release contains Forward Looking Statements regarding our intentions and plans. Forward looking statements in this news release include that the Company has initiated a resource definition drill program consisting of 5 wells surrounding the Milestone-003 well; that the Company has approved an $8.5 Million CAD budget for the program and is expecting to produce an NI 43-101 inferred resource during Q4, 2009; that the company will complete an NI 43-101 indicated and inferred resource based on the expanded 5 well program during early 2010; that visual geological evaluation of the core with down-hole gamma ray logs indicate strong potash grades, low carnallite content and promising formation temperatures of 60° C; the Company feels that the thicknesses and grades obtained and down hole gamma ray logging are consistent with those mined at the Belle Plaine Solution mine; that it has demonstrated regional continuity of all three potash members, over 15.5 km of strike length, between the first and fifth wells; that the Company is carrying out a 2D seismic survey; that it plans to also complete a 3D seismic survey to be used with the NI 43-101 resource calculation; that it has engaged Agapito and Associates Inc. to complete an NI 43-101 resource based on the initial four wells and is expected to be completed in Q4; that Agapitoand Assoc iates will also complete an NI 43-101 indicated and inferred resource calculation during early 2010. It is the Company's policy not to update forward looking statements. Various factors may prevent or delay our plans, including but not limited to, contractor availability and performance, weather, access, mineral prices and success and failure of the exploration and development carried out at various stages of the program. Readers should review risk factors applicable to junior mining exploration companies generally to understand the variety of risks that can affect the Company.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information on Western Potash Corp. please visit http://www.westernpotash.com or for an update, please contact the Investor Relations Department at 604 689 9378 or by e-mail at info@westernpotash.com.
Visit Western Potash Corp. Website: www.westernpotash.com
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The Information in a Stockgroup Media Inc. Stockhouse News Hotline is A PAID ADVERTISEMENT and is for the viewers information only. Western Potash Corp. has paid a fee not exceeding $2500.00 in cash or stock to have their corporate information featured. The corporate information is purely and solely the responsibility of Western Potash Corp. and it is neither commented upon, researched, or in any manner the responsibility of Stockgroup Media Inc, whose only function is as a supplier of media facilities. Any information provided by the advertisers of Stockgroup Media Inc., through its media services, is not to be construed as a recommendation or suggestion or offerto buy or sell securities, but is provided purely as an informational media service. Stockgroup Media Inc. makes no warranties or undertakings as to the accuracy or completeness of this information. All due diligence should be done by the reader or their financial advisor. Investing in securities is speculative and carries risk. Persons who wish to buy or sell securities should only do so in consultation with their registered securities advisers.
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The Company's board has approved an $8.5 million CAD budget for this program and is expecting to produce an NI-43-101 compliant inferred resource calculation during Q4 2009. The Company will also complete an NI-43-101 compliant indicated and inferred resource calculation based on the results of the expanded 5 well resource definition drill program, 2D seismic, and 3D seismic surveys. This report is expected to be complete during early 2010, dependant on the completion and results of the aforementioned drilling and seismic surveys.
The Company also reports the completion of the first well in the current resource definition program. The Milestone-004 well is the fifth well drilled on the Milestone property and is located approximately 3.0 km to the south of the Milestone-003 well which reported a composite thickness of 24.4m of potash mineralization with a grade of 18.2% wt K2O.
Coring of the Milestone - 004 well has intersected the Prairie Evaporite Formation at a verticaldepth of 1,727.6 m. Visual geological evaluation of the core in conjunction with down-hole gamma ray logs indicate strong potash grades, very low carnallite content, and very promising minimum formation temperatures of 60° C within the two upper members, with some carnallite present in the Esterhazy member. The following potash member thicknesses are indicated by the down-hole gamma ray logs:
[ TABLE NOT AVAILABLE ]
All drill intercepts noted in this release are considered the true thickness of the mineralization; as the salt beds are relatively flat-lying and down-hole directional surveys indicate the hole was essentially vertical upon intersecting the salt and potash sequences.
The Company sees the presence, thicknesses and indicated grade of the potash beds in this fifth well as a significant result when taken in conjunction with the results reported for the first four wells. The Company feels that the thicknesses and grades obtained by geochemical sampling and down hole gamma ray logging are consistent with those mined at the Belle Plaine solution mine and that it has now demonstrated regional continuity of all three potash members, over 15.5km of strike length, between the first and fifth wells.
A 2D seismic survey is being carried out over this priority area in conjunction with the current drill program. The Company plans to also complete a 3D seismic survey over this priority area to be used with the NI-43-101 compliant resource calculation.
The Company is also pleased to announce that it has engaged Agapito and Associates Inc. of Golden, Colorado to complete an NI43-101 compliant inferred resource calculation and report based on the results of the initial four well drill program. This report is expected to be completed during the fourth quarter of 2009. Agapito and Associates will also complete an NI-43-101 compliant indicated and inferred resource calculation based on the results of the expanded 5 well resource definition drill program, 2D seismic, and 3D seismic surveys. This report is expected to be completed during early 2010, dependant on completion of the aforementioned drilling and seismic surveys.
Further to the Company's news release of September 25, 2009, the Company would like to announce that it has received approval from the TSX Venture Exchange to extend 44,739,000 warrants at a price of $0.75. The expiry date has been extended from October 15, 2009 to April 15, 2011.
Western Potash Corp. is a mineral exploration company engaged in the evaluation, exploration and development of potash mineral properties in Western Canada. The Company intends to define and develop a world-class potash deposit in an ecologically sustainable, economically efficient and socially responsible manner.
The in-house qualified persons for the purposes of NI 43-101 guidelines are J. Patricio Varas, P. Geo and Dean Pekeski, P. Geo, both of whom have reviewed and approved the contents of this news release. For more information on Western Potash Corp.'s projects, please visit the Company's website at: www.westernpotash.com
ON BEHALF OF THE BOARD OF DIRECTORS
"J. Patricio Varas"
J. Patricio Varas
President and CEO
This news release contains Forward Looking Statements regarding our intentions and plans. Forward looking statements in this news release include that the Company has initiated a resource definition drill program consisting of 5 wells surrounding the Milestone-003 well; that the Company has approved an $8.5 Million CAD budget for the program and is expecting to produce an NI 43-101 inferred resource during Q4, 2009; that the company will complete an NI 43-101 indicated and inferred resource based on the expanded 5 well program during early 2010; that visual geological evaluation of the core with down-hole gamma ray logs indicate strong potash grades, low carnallite content and promising formation temperatures of 60° C; the Company feels that the thicknesses and grades obtained and down hole gamma ray logging are consistent with those mined at the Belle Plaine Solution mine; that it has demonstrated regional continuity of all three potash members, over 15.5 km of strike length, between the first and fifth wells; that the Company is carrying out a 2D seismic survey; that it plans to also complete a 3D seismic survey to be used with the NI 43-101 resource calculation; that it has engaged Agapito and Associates Inc. to complete an NI 43-101 resource based on the initial four wells and is expected to be completed in Q4; that Agapitoand Assoc iates will also complete an NI 43-101 indicated and inferred resource calculation during early 2010. It is the Company's policy not to update forward looking statements. Various factors may prevent or delay our plans, including but not limited to, contractor availability and performance, weather, access, mineral prices and success and failure of the exploration and development carried out at various stages of the program. Readers should review risk factors applicable to junior mining exploration companies generally to understand the variety of risks that can affect the Company.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information on Western Potash Corp. please visit http://www.westernpotash.com or for an update, please contact the Investor Relations Department at 604 689 9378 or by e-mail at info@westernpotash.com.
Visit Western Potash Corp. Website: www.westernpotash.com
--------------------------------------------------------------------------------
This email was sent to you from STOCKHOUSE News Hotlines. If you wish to remove yourself off from this subscription (Investor), please use this link to cancel future deliveries. Thank you.
The Information in a Stockgroup Media Inc. Stockhouse News Hotline is A PAID ADVERTISEMENT and is for the viewers information only. Western Potash Corp. has paid a fee not exceeding $2500.00 in cash or stock to have their corporate information featured. The corporate information is purely and solely the responsibility of Western Potash Corp. and it is neither commented upon, researched, or in any manner the responsibility of Stockgroup Media Inc, whose only function is as a supplier of media facilities. Any information provided by the advertisers of Stockgroup Media Inc., through its media services, is not to be construed as a recommendation or suggestion or offerto buy or sell securities, but is provided purely as an informational media service. Stockgroup Media Inc. makes no warranties or undertakings as to the accuracy or completeness of this information. All due diligence should be done by the reader or their financial advisor. Investing in securities is speculative and carries risk. Persons who wish to buy or sell securities should only do so in consultation with their registered securities advisers.
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This press release is distributed by EmailWire.Com Press Release Distribution Staff.
For more information on unlimited press release distribution services for $99/month,
go to http://www.emailwire.com/publications/unlimited_press_release_distribution.php
or call 281-645-4086.
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Contact Information:
Western Potash Corp.
Investor Relations Department
Tel: 604 689 9378
Email us
This is a press release. Press release distribution and press release services by EmailWire.Com: http://www.emailwire.com/us-press-release-distribution.php.
Western Potash Corp.
Investor Relations Department
Tel: 604 689 9378
Email us
This is a press release. Press release distribution and press release services by EmailWire.Com: http://www.emailwire.com/us-press-release-distribution.php.
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