Passport Potash Announces Expanded Drill Program and Reports Progress in Current Drill Program
May 24 2012 - 8:00AM
Marketwired
Passport Potash Inc. (TSX VENTURE:PPI)(OTCQX:PPRTF) ("Passport") is
pleased to announce, subsequent to its acquisition of the
Fitzgerald Ranch (see news release dated May 14, 2012), that it has
added 8 additional holes to its 2012 drill program. The new holes
will be drilled on the Fitzgerald Ranch and the results, combined
with the results of its current 15 hole expansion and in-fill
drilling program, will be included in an updated resource
report.
The 2012 drill program, which was based on the recommendations
of ERCOSPLAN, is being conducted on Passport's private land
holdings on the Twin Buttes Ranch, and on its State land sections
on the south and east sides of the Basin. Passport reported the
test results for the first 2 cored and assayed holes in a news
release dated May 10, 2012. Passport expects to receive the results
of its next two cored holes, which have been sent to the
Saskatchewan Research Council Laboratories in Saskatoon, Canada,
within the next two weeks.
With the addition of these new holes, Passport is pleased to
announce that it will be mobilizing an additional core rig to the
area to expedite the drilling program.
The additional 8 core drill holes planned for the Fitzgerald
Ranch are designed to confirm the results of work reported by Arkla
Corporation in the 1960s and also to increase the level of
confidence in the continuity of the potash mineralization
throughout Passport's other properties. Passport will continue to
report the results of its current drilling program as they are
received.
Passport's President and CEO, Joshua Bleak says: "We are pleased
with the progress of our 2012 drill program, and will mobilize
another core rig to the area to meet the increased drilling
demands. Interim progress reports and drill results will be
released as we proceed toward our goals."
To view site selections for the additional 8 holes please click
here: http://passportpotash.com/pdf/frdp.jpg
About the Holbrook Potash Project
Passport Potash Inc. is a TSX-listed resource company engaged in
the exploration and development of advanced potash properties.
Passport has acquired a strategic position in the Holbrook Basin
with land holdings encompassing over 122,000 acres.
For more information regarding the Holbrook Basin visit our
website at www.passportpotash.com.
On behalf of the Board of Directors
PASSPORT POTASH INC.
Joshua Bleak, President
Forward-Looking Statements
This news release includes certain statements that may be deemed
"forward-looking statements". All statements in this release, other
than statements of historical facts, including the likelihood of
commercial mining and possible future financings are
forward-looking statements. Although the Company believes the
expectations expressed in such forward-looking statements are based
on reasonable assumptions, such statements are not guarantees of
future performance and actual results or developments may differ
materially from those in the forward-looking statements. Factors
that could cause actual results to differ materially from those in
forward-looking statements include unsuccessful exploration
results, changes in metals prices, changes in the availability of
funding for mineral exploration, unanticipated changes in key
management personnel and general economic conditions. Mining is an
inherently risky business. Accordingly the actual events may differ
materially from those projected in the forward-looking statements.
For more information on the Company and the risks and challenges of
its business, investors should review the Company's annual filings
that are available at www.sedar.com.
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.
Contacts: Passport Potash Inc. Peter J. Kletas Manager of
Corporate Development 866-999-6251 Toll
Freepeter@passportpotash.com Passport Potash Inc. Clive Mostert
Corporate Communications 780-920-5044cmostert@passportpotash.com
www.passportpotash.com