Union Securities Ltd. Initiates Analyst Coverage on Allana Potash Corp.
Allana Potash Corp. (TSX VENTURE: AAA)(OTCQX: ALLRF)("Allana" or the "Company"), is pleased to announce that Union Securities Ltd. ("Union") has initiated analyst coverage of Allana. If you wish to receive a copy of the report directly, please contact Brian Mok, Union Securities at 416-775-5135 or bmok@union-securities.com.
Allana's Ethiopia Potash Project is comprised of three mineral concessions totaling approximately 150 square kilometers in Ethiopia's northeastern Danakil Depression and Allana has the right to acquire a fourth concession for an additional 10 square kilometres. The project area is approximately 100 km from the Red Sea coast and the sea port of Mersa Fatma, Eritrea and 600 km via road from the deep water port of Djibouti. Allana's concessions have Measured and Indicated Resources totaling 673 Million Tonnes with 126 Million Tonnes of KCl and additional Inferred Mineral Resources of 596 Million Tonnes with 119 Million tonnes of KCl. Potash deposits of the Danakil Depression are unique due to their shallow depth and may be amenable to open pit or solution mining and solar evaporation. Additional drilling is ongoing which management believes will expand the resource base, increase confidence in the current resource and move mineral resources from the Inferred category to Measured and Indicated categories. Potash mineralization occurs in four potash horizons which can be processed to produce MOP and SOP products.
