Acron completes initial exploration program for its KP 405 potash permit in southern Saskatchewan; estimated 329 million tonnes of KCl are recoverable from site
December 12, 2013
– THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY IN OR INTO THE UNITED STATES, CANADA, JAPAN, SOUTH AFRICA OR AUSTRALIA OR ANY JURISDICTION IN WHICH SUCH PUBLICATION OR DISTRIBUTION IS PROHIBITED.
JSC Acron and its Canadian subsidiary North Atlantic Potash Inc. are very pleased to report a world-class potash resource has been delineated on their KP 405 potash permit in southern Saskatchewan, Canada, operated by a joint venture (the “JV”) between North Atlantic Potash Inc. (“North Atlantic”) and Rio Tinto Potash Management Inc. (“RTPM”), a wholly-owned subsidiary of Rio Tinto plc. The JV has completed an exploration programme that defined an inferred resource of 1.4 billion tonnes of potash with an average grade of 31% KCl. The critically important downhole temperatures for a solution mine averaged 63O C, ranking this deposit one of the highest in Saskatchewan. Based on a solution mining operation, it is estimated that 329 million tonnes KCl are recoverable at the wellhead from the resource defined within the northern area of KP 405.
“We have said we are focused on developing potash production in Saskatchewan,” said Arie Zuckerman, Vice President of JSC Acron and President of North Atlantic Potash Inc. “This massive potash deposit is located in one of the most favourable potash regions in the world. The size, quality, and temperature characteristics place the project globally in the top tier of potash deposits. Exploration shows that this deposit has the potential to support a world-class solution mine for many years and its technical characteristics point to very favourable operating costs.”
The inferred resource is further described in the included Appendix.
Summary of Resource report on KP 405 property