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Potash is fertilizer primarily found in two forms: muriate of potash (KCl) and sulfate of potash (K2SO4). Both forms provide potassium (K), a necessary nutrient for plant and animal life with no known substitute. About 90% of all potash produced is used as fertilizer with the last 10% being used in the chemical industry.
For many applications, such as most fruits and vegetables, sulfate of potash is the preferred product. There are only four known places on earth where this form of the nutrient is found naturally: at the Great Salt Lake; on the Atacama desert in South America; at the Luobupo project in Xinjiang, China; and at the Sevier Lake in Utah, where EPM Mining Ventures is at work.
Potash demand is expected to increase substantially over the coming years driven by increasing population, reduced arable land, improving diets, and an increased interest in organic and environmentally friendly food and bio-fuels production.
EPM Mining Ventures plans to produce a suite of useful and necessary products from the brines found at Sevier Lake. Using an environmentally friendly, solar evaporation process, the company will only need to add fresh water and some heat to produce a fertilizer expected to be certified as organic. Other products may include sodium chloride (also known as table salt or road salt); magnesium sulfate (used in agriculture, gardening, and bath salts); and magnesium chloride (used in medicine and for dust control).
Additional research may lead to the development of other benefical chemicals and nutrients from the brines at the Sevier Lake project.
| Product | Chemical Composition | Primary Uses |
|---|---|---|
| Sulfate of Potash | K2SO4 | Used primarily as fertilizer for high-value crops. |
| Sodium Chloride | NaCl | Used as table salt or road salt. |
| Sulfate of Potash Magnesia | 2MgSO4 • K2SO4 | Used primarily as fertilizer |
| Magnesium Sulfate | MgSO4 | Used in agriculture, gardening, and bath salts |
| Magnesium Chloride | MgCl | Used in medicine, ointments, and for dust control |
In the 1970's, a Utah geologist, Murray Godbe, began the first known systematic study of the Sevier Lake with the intention to produce valuable minerals. Godbe and his team found indications of a vast pool of brine containing potassium and other important minerals.
Supported by a Texas financier, W. D. Hayden, Godbe leased the majority of the dry lake's surface securing land from the BLM as well as from SITLA, a Utah state land agency. The team drilled hundreds of wells taking brine samples across the vast lake surface and from many depths.
After several years of study, and shortly before the project was set to enter full development and production, W. D. Hayden suddenly died. Not long afterward, Murray Godbe died. The heirs briefly tried to market the project but ultimately gave up. After a period, the leases returned to their respective government agencies.
In 2008, Emerald Peak Minerals LLC formed to resurrect the project. After securing SITLA leases from the State of Utah, Emerald Peak Minerals partnered with EPM Mining Ventures Inc. to secure the financing necessary to obtain the federal leases from the Bureau of Land Management. EPM Mining raised about $30 million dollars (CAD$) and won the federal acreage needed to define the project. Through subsequent negotiations, EPM Mining increased its holdings. Today, it directly controls about 95,000 acres through its wholly-owned US subsidiary Peak Minerals Inc. and has agreements to operate more than 28,000 additional contiguous acres.
On November 20, 2012, EPM Mining Ventures Inc. announced the filing on SEDAR of a National Instrument 43-101 technical report entitled "NI 43-101 Technical Report Preliminary Economic Assessment EPM Mining Ventures Inc. Sevier Dry Lake, Utah, United States" (the "Technical Report"), dated effective November 16, 2012 by Barry W. Schmitke, P.Eng, Dennis Storer, P.Eng, and Kyle Krushelniski, P.Eng, of March Consulting Associates Inc. in association with Lawrence Henchel, PG, of Norwest Corporation.
The Technical Report outlines the results of the Preliminary Economic Assessment ("PEA") for the production of Sulfate of Potash on EPM's Sevier Dry Lake Potash project located in southwestern Utah. EPM first reported the economic results of the PEA in a press release dated October 15, 2012.
The Technical Report is available on EPM's SEDAR profile at www.sedar.com as well as on this website under the 'Technical Reports' link on our 'Investors' tab.
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| Market Value1 | $44,950,678 | a/o Jan 10, 2013 |
| Shares Outstanding | 113,225,889 | a/o Oct 31, 2012 |
| Float | 113,225,889 | a/o Nov 27, 2012 |
| Authorized Shares | Unlimited | a/o Dec 04, 2012 |
| Par Value | No Par Value |
| Shareholders of Record | Not Available |
| EPK - TSX Venture Exchange - Qualified |
| Short Interest | (%) |
| Significant Failures to Deliver | No |
