Pacific Potash Initiates Drilling on its 100% Owned Amazonas Basin Potash Property
15 Novembre 2013 - 2:45PM
Access Wire
Vancouver, British Columbia - November 15th, 2013 - Pacific
Potash Corporation (TSX-V: PP; OTCQX: PPOTF; FSE: P9P, "Pacific
Potash", "the Company") is pleased to announce that
it has commenced drilling its Amazonas
Basin Potash Property. Mobilization, set-up and the initial
pre-collar and casing of the well have been completed and normal
drilling operation is currently underway. The depth of the well is
currently 456m and it is being cased and cemented to complete the
first stage of drilling operation. The second stage of drilling
will involve the commencement of coring which comprises rocks from
the Andira and Nova Olinda formations. The Nova Olinda Formation is
the target horizon for potash exploration in this basin. All
significant potash intercepts have been located within Cycle VII of
this formation. The Cycle VII
potash mineralization occurs in numerous drill holes in the Middle
Amazon basin, including those that define the Fazendinha and Arari
potash occurrences.
"Drilling to date
has been extremely smooth, logistics have been on time and on
budget." Mr. Balbir Johal, Executive Co-Chairman and Director
reports, "Being fully funded for several wells, we anticipate many
exciting months of exploration in anticipation of a new potash
discovery in this world class basin."
On Monday Nov. 11, 2013
a new potash discovery was announced directly across the river from
Pacific Potash's claims near the city of Itacoatiara by Brazil
Potash Corp. Itacoatiara is the site of Pacific Potash's field
office and is located directly across the Amazon River from Pacific
Potash's claims. The first well site is a short 40-minute boat ride
from the city. The discovery is another piece of evidence that
proves the multiple deposit hypothesis of this basin.
Itacoatiara hosts a Panamax capacity port with a floating unit linked to
the shore by a bridged conveyor. The port has five berths for
barges and three warehouses. The port has a grain terminal
(Hermasa) that made the Export Northwest Corridor feasible where
the production of the Northwest regions of Mato Grosso and
Southwest of Rondonia is drained. It mainly exports soybeans,
soybean oil and bran. Itacoatiara
is also accessible by paved Amazonas State highway (AM010) 265 km
east from Manaus, the capital city
of the state.
This is Pacific Potash's
first well of a planned multi-well drill program on the Amazonas
Potash Project aimed at making a new potash discovery. The well is
expected to take approximately 60 days from the start of drilling
and will be drilled to a true depth of 1400m. The target formation,
Nova Olinda Cycle VII is anticipated to occur at a depth of
approximately 1300m. Gamma-ray and Caliper downhole geophysics will
be run in the well to identify the mineralized zone and to better
correlate the stratigraphy in the area.
Click Image To View Full Size
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.
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.
Grafico Azioni Pacific Silk Road Resour... (TSXV:PP)
Storico
Da Mag 2024 a Giu 2024
Grafico Azioni Pacific Silk Road Resour... (TSXV:PP)
Storico
Da Giu 2023 a Giu 2024