Pacific Potash Corp. Provides Shareholder Update and Appoints Industry Veteran Don Larmour to its Advisory Board
July 28 2011 - 10:00AM
Marketwired
Pacific Potash Corp. (TSX VENTURE: PP) is pleased to provide 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.
Steve Khan, CEO of Pacific Potash, commented; "Following up on
the successful financing that Pacific Potash recently completed, we
have completed survey work on the property which has led us into
the permitting process that is currently underway. We are also
excited to be in a position to commence drilling on the property
shortly and expect positive results from this program."
Aeromagnetic-electromagnetic survey
During late May Geotech Ltd., on behalf of the Company completed
an 882-line-kilometre 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 on a 50/50 basis, the
Company has applied for three additional permits (the
Provost/Grizzly property) totalling approximately 69,000 acres
located within 20 to 50 kilometres 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 three- to six-metre thicknesses of
potash within the Patience Lake Member which in turn are overlain
by a salt back of one to three metres. Thickness of the salt back
increases to the north, attaining three to six metres 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, 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 one- to five-metre-thick potash beds with grades ranging
from 15 per cent to 25 per cent K2O.
Further updates will be provided once permitting has been
completed and drill contractors selected. Jody Dahrouge, PGeol, a
qualified person for the purposes of NI 43-101 supervised the
preparation of the technical information in this news release.
Appointment of advisory board member
Pacific Potash Corp. is pleased to announce the appointment of
Don Larmour as the first member of its advisory board to provide
guidance and expertise as the company advances its potash
properties. Mr. Larmour has over 30 years of experience in the
potash industry, 28 of those with Potash Corp. of Saskatchewan
(PCS) and more recently as the principal of his consulting company
Global Potash Solutions.Mr. Larmour held various engineering
positions within PCS including research engineer, plant
metallurgist and senior process engineer. His assignments included
conventional, as well as solution mining operations, and he led the
development of the PCS Cory crystallization circuit expansion (1988
to 2008), which quadrupled crystallizer output. More recently, Mr.
Larmour led the process design team in the
three-million-tonne-per-year Red expansion at PCS Cory. Mr. Larmour
has strong expertise in all aspects of potash processing, and his
experience also includes construction auditing, plant commissioning
and environmental compliance. "We are privileged to have Mr.
Larmour on our advisory team as his track record and in depth
industry expertise brings invaluable credentials to our team,"
stated CEO, Steve Khan.
About Pacific Potash
Pacific Potash is a potash exploration and development company
whose permits are located along the Alberta-Saskatchewan border,
just 45 km east of Western Canada's first Potash Mine near Unity,
Saskatchewan. This region is host to some of the richest and most
extensive potash deposits in worldwide. The Provost Potash Project
consists of two permits encompassing 43,938 acres 250 km southeast
of Edmonton, Alberta.
FORWARD LOOKING STATEMENTS: This press release contains
forward-looking statements, which address future events and
conditions, which are subject to various risks and uncertainties.
Actual results could differ materially from those anticipated in
such forward-looking statements as a result of numerous factors,
some of which may be beyond the Corporation's control. These
factors include: results of exploration activities, general market
and industry conditions, and other risks disclosed in the Company's
filings with Canadian Securities Regulators.
Forward-looking statements are based on the expectations and
opinions of the Corporation's management on the date the statements
are made. The assumptions used in the preparation of such
statements, although considered reasonable at the time of
preparation, may prove to be imprecise and, as such, undue reliance
should not be placed on forward-looking statements. The Corporation
expressly disclaims any intention or obligation to update or revise
any forward-looking statements whether as a result of new
information, future events or otherwise, except as required by
applicable law. Depending on exploration results and available
financing, the Corporation may at any point modify the suggested
work program for 2011.
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: Octobaan IR Capital Inc Doug Murray Owner 1 (647)
258-3311 or Cell: 1 (613) 220-0569 info@pacificpotash.com Pacific
Potash Corporation Mike Blady VP Corporate Communications Office:
604-629-7088 or Cell: 604-720-3474 mblady@pacificpotash.com
www.pacificpotash.com
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