Universal Potash Plans 2011 Expansion of Acquisition and Exploration Program
January 11 2011 - 12:00PM
Marketwired
Universal Potash Corp. (PINKSHEETS: UPCO), an acquisition-driven,
exploration stage lithium and potash mining corporation dedicated
to increasing shareholder value, is pleased to announce it will be
aggressively bidding at the upcoming Trustlands Auctions to be held
in Utah on the 27th of January, 2011, and the Bureau of Land
Management land auctions in New Mexico to be held on 19th of
January. UPCO plans to target lithium, as well as potash which
potentially occur together in the same salt horizons. The areas
being targeted are known for historic oil and gas drill logs which
contain potash as well as lithium brines. Currently active bids and
budgets are being prepared. UPCO plans to re-enter abandoned oil
drill sites in search of potash and lithium using modern technology
not available at shut down. Previous logs will be analyzed for
economical valuations for potash, as well as lithium brines, with a
focus on the salt horizons containing the lithium and potash.
Potash and lithium are both in great demand on world markets at
this time and are projected to increase due to their unique
properties. Potash is used internationally as a fertilizer
increasing crop yields by as much as 50%. World population growth
and the rise of the standard of living around the world continue to
put a strain on world food supplies. Potash is one of the most
economical ways to increase world food yield. Lithium is a white
metal used in the manufacture of ultra light weight batteries for
cell phones, power tools and in electric cars. Demand for lithium
ion batteries for electric vehicles is projected to soar in the
next 10 years.
"UPCO management is excited to be able to explore for and
potentially produce two demand minerals from the same targets.
Production of lithium and potash is done through what is known as
In-situ Mining where a well is drilled down to the brine horizon
and another return well is also drilled," stated Kevin M Murphy,
CEO of Universal Potash Corp. Hot water is then pumped down the
first well dissolving the potash and lithium salts into a brine
fluid that is then forced back up the return well into an
evaporation pond where the water evaporates and the minerals
condense for final processing.
In-situ mining is a non-invasive, environmentally friendly
mining process involving minimal surface disturbance which extracts
minerals from porous sandstone or brine aquifers by reversing the
natural processes which deposited the minerals. The mineral (potash
or lithium) deposit must occur in permeable aquifers. These
aquifers provide the "plumbing system" for both the original
emplacement and the recovery of the mineralization. The minerals
were emplaced by ground water which moved through the plumbing
systems of the geologic formation. To effectively extract lithium
or potash deposited from ground water, UPCO will first thoroughly
define this plumbing system and then design well fields that best
fit the natural hydro-geological conditions. Once the geometry of
the ore bodies is known, the locations of injection and recovery
wells are planned to effectively extract the lithium and
potash.
"Safe Harbor" Statement: Under the Private Securities Litigation Reform Act of
1995: The statements in all press releases that relate to the
company's expectations, with regard to the future impact on the
company's results from new projects in development, are
forward-looking statements. A complete disclosure of our "SAFE
HARBOR" statement is posted on our website at
http://UniversalPotash.com under the heading "NEWS."
CONTACT: Call Our Investor Relations - Toll Free
1-877-331-8777 CEO@UniversalPotash.com
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