Pacific Potash Provides Drilling Update and Announces New Director
December 10 2013 - 12:57PM
Access Wire
VANCOUVER, BRITISH COLUMBIA - December
10th, 2013 - Pacific Potash Corporation (TSX-V: PP;
OTCQX: PPOTF; FSE: P9P, "Pacific Potash", "the Company") is pleased
to provide an update with regard to its
current drilling program. The current depth of Pacific Potash's
maiden well is 1,004m and is currently in the Nova Olinda
formation, which is the target horizon for potash mineralization in
the basin. This represents the final phase of drilling (phase 3)
cutting the evaporitic portion. All significant potash intercepts
have been located within Cycle VII of the Nova Olinda Formation.
The Cycle VII potash mineralization occurs in numerous drill holes
in the Lower and Middle Amazon basin, including those that define
the Fazendinha and Arari potash occurrences. The lithology's that
have been intercepted up until this point have been in line with
lithology's in other potash bearing wells in the surrounding area.
Upon further successful drilling the well should be completed
within a few weeks.
New
Director
The Company is also
pleased to announce the appointment of Mr. Min Zhai to the Board of
Directors. Mr. Zhai currently serves as the Managing Director for
CapitalAsia Investment Holdings Group, which is the cornerstone
investor in Pacific Potash. The Company welcomes Mr. Zhai to the
Board as Pacific Potash looks forward to further strengthening the
relationship with its cornerstone investment group. His appointment
to the Board follows the stepping down of Mr. Robert Coltura as a
director of the Company. The Board would like to thank Mr. Coltura
for his contributions and wishes him well in his future
endeavors.
Option
Grant
Pacific Potash Corp. has
granted 1.1 million incentive stock options to officers, directors
and consultants, in accordance with the policies of the TSX Venture
Exchange. The incentive stock options are exercisable at a price of
7.5 cents per share and expire 10 years from the date of grant.
This grant of options is subject to regulatory approval.
About Pacific
Potash Corporation
Pacific Potash
Corporation trades on the TSX Venture Exchange under the symbol:
PP, as well on the OTCQX under the symbol: PPOTF and on the
Frankfurt Stock Exchange under P9P. Pacific Potash is engaged in
the exploration and development of the Amazonas Potash Project and
the surrounding potash claims targeting the Middle Amazonas Potash
Basin, currently the host to multiple new exploration campaigns for
potash. The Middle Amazonas Basin is one of the largest evaporate
basins in the world (10,000km2).
We seek safe harbour.
On behalf of the Board,
Pacific Potash
Corporation
Balbir Johal
Executive Co-Chairman
& Director
For further
information, please visit our website at www.pacificpotash.com
or contact our V.P of Corporate Communications, Mike
Blady:
Mike Blady
Office: +1
604.895.7446
Email:
mblady@pacificpotash.com
Andre Costa, P.Geo, CEO & President of
Pacific Potash Corp and qualified person for the purposes of NI
43-101, has reviewed and approved the preparation of the technical
information in this news release.
Neither the 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.
Caution
concerning forward-looking information
This press release contains "forward-looking information" and
"forward-looking statements" within the meaning of applicable
securities laws. This information and statements address future
activities, events, plans, developments and projections. All
statements, other than statements of historical fact, constitute
forward-looking statements or forward-looking information. Such
forward-looking information and statements are frequently
identified by words such as "may," "will," "should," "anticipate,"
"plan," "expect," "believe," "estimate," "intend" and similar
terminology, and reflect assumptions, estimates, opinions and
analysis made by management of Pacific Potash in light of its
experience, current conditions, expectations of future developments
and other factors which it believes to be reasonable and relevant.
Forward-looking information and statements involve known and
unknown risks and uncertainties that may cause Pacific Potash's
actual results, performance and achievements to differ materially
from those expressed or implied by the forward-looking information
and statements and accordingly, undue reliance should not be placed
thereon.
Risks and uncertainties that may cause actual
results to vary include but are not limited to the availability of
financing; fluctuations in commodity prices; changes to and
compliance with applicable laws and regulations, including
environmental laws and obtaining requisite permits; political,
economic and other risks; as well as other risks and uncertainties
which are more fully described in our annual and quarterly
Management's Discussion and Analysis and in other filings made by
us with Canadian securities regulatory authorities and available
at www.sedar.com. Pacific Potash disclaims any obligation to
update or revise any forward-looking information or statements
except as may be required.
Pacific Silk Road Resour... (TSXV:PP)
Historical Stock Chart
From Nov 2024 to Dec 2024
Pacific Silk Road Resour... (TSXV:PP)
Historical Stock Chart
From Dec 2023 to Dec 2024