ISX Resources Inc (C-ISX) - News Release
ISX Resources starts 3-D seismic at KP 289
2007-10-12 07:34 MT - News Release
Shares issued 23,218,422
ISX Close 2007-10-11 C$ 1.45
Mr. Thomas Tough reports
ISX RESOURCES INITIATES 3-D SEISMIC PROGRAM FOR RESOURCE DEFINITION ON ITS SASKATCHEWAN POTASH PROPERTY
ISX Resources Inc. has initiated a 25.6-square-kilometre, 3-D seismic program within the company's 97,240-acre potash exploration permit known as subsurface mineral permit KP 289.
The seismic program is focused in the area of the abandoned Imperial Findlater potash solution mining pilot test site. Imperial Oil Ltd. (now ExxonMobil) explored the northwestern portion of the permit area in the 1960s. The historical data from this exploration program consist of drill cores, borehole geophysical well logs, chemical assay data from drill core analyses, seismic maps and a brief seismic report. The Imperial Oil program was completed and abandoned in 1968. The Imperial Findlater site confirms the presence of potash mineralization thus it is selected by ISX Resources as a priority target for further potash resource definition.
ISX Resources has engaged Boyd Petrosearch of Calgary to conduct and oversee all the aspects of this seismic survey. Boyd Petrosearch is the premiere geophysical consulting firm in the potash sector and has been providing acquisition and interpretation services to all the major potash operations in the industry for over a quarter century.
Data from the seismic survey will be used, among other things, to further define the thickness, continuity and variation of the Patience Lake and Belle Plaine potash-bearing beds. The new 3-D seismic data will provide subsurface information to facilitate the assessment of geologic conditions for potential future solution mining operations. Maps created from the 3-D data can be used to assist engineers and geologists in assessing the potash potential in the program area. The data may also be used for delineating future seismic programs. The company expects the program to be completed in the first quarter of 2008.
Stephen P. Halabura, PGeo, a qualified person as defined by National Instrument 43-101, has reviewed this news release and is responsible for its technical content.
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