Pacific Potash to acquire 69,000 acres near Provost
Pacific Potash Corp (C:PP)
Thursday July 14 2011 - News Release
PACIFIC POTASH CORPORATION SUMMARIZES SUMMER EXPLORATION PLANS
Pacific Potash Corp. has provided the following update on activities at its wholly owned Provost Potash Property and on its newly acquired, 50 per cent owned surrounding property within east-central, Alberta.
In summary, the Company has completed a high-resolution aeromagnetic - electromagnetic survey of the Provost Potash Property; has made application for three additional permits totaling approximately 69,000 acres, on a 50:50 basis with Grizzly Discoveries Inc., along the Alberta - Saskatchewan Border; and is making preparations for the completion of at least two drill holes at the Provost Potash Property and surrounding property.
Aeromagnetic - Electromagnetic Survey
During late May, Geotech Ltd., on behalf of the Company, completed an 882 line-km VTEM (Aeromagnetic - Electromagnetic) survey of the Provost Potash Property. The survey was undertaken to provide additional structural information on the property, and to investigate the potential for shallower stratigraphy to host local aquifers. Results of the survey, which are expected shortly, will assist in guiding future exploration.
Additional Permits
In conjunction with Grizzly Discoveries Inc., on a 50:50 basis, the Company has applied for three additional permits (the 'Provost/Grizzly Property') totaling approximately 69,000 acres located within 20 to 50 km south of the Provost Potash Property, along the Alberta - Saskatchewan Border. These lands were acquired to cover potential extensions into Alberta of the Patience Lake Member of the Prairie Evaporite Formation, as documented by the Saskatchewan Ministry of Energy and Resources Open File 2009-24. This document interprets the eastern margins of the new permits to be underlain by 3 to 6 meter thicknesses of potash within the Patience Lake Member, which in turn are overlain by a salt back of 1 to 3 meters. Thickness of the salt back increases to the north, attaining 3-6 meters adjacent to the east of the northern portions of the Company's Provost Potash Property.
Proposed 2011 Drill Program
Current exploration plans for the Provost Potash Potash and the Provost/Grizzly Property, and adjacent area envision the permitting of two drill sites within the Provost Property, and the completion of at least one drill hole during late summer or early fall. Within the Provost/Grizzly Property, at least two drill sites will be permitted, one north of the Provost Potash Property and one to the south, with at least one drill hole completed.
Within the area, the Patience Lake Member of the Prairie Evaporite Formation is interpreted to occur at depths ranging from 1,300 to 1,450 m below surface. Klarenbach (2009) suggested that gamma-ray responses from historic oil and gas wells in the area may indicate 1to 5 metre thick potash beds with grades ranging from 15 to 25 per cent K2O.
Further updates will be provided once permitting has been completed and drill contractors selected.
Jody Dahrouge, P.Geol., a "Qualified Person" for the purposes of NI 43-101 supervised the preparation of the technical information in this news release.
