Vancouver – Western Potash (WPX-V) released drill results for the first of two holes it has drilled at its Milestone property 30 km southeast of Regina in the Prairie evaporite formation.
Hole 1 hit 20 metres grading 17.2% potassium oxide starting 1,657 metres downhole.
Visual observation of a large portion of about 30 metres of Prairie evaporite in hole 2, intercepted at about the same depth as in hole 1 but over 5 km to the southeast, suggests moderate to strong potash grades, Western Potash says.
As the Prairie evaporite formation lies flat the company says intercept widths from vertically-drilled holes are considered true thicknesses.
Western Potash says at 62 degrees Celsius the temperature of the formation is favourable.
Potash is often solution mined so a higher existing heat in a formation reduces the amount of energy expended via injection of brines during potash extraction.
On news of the results Western Potash’s share price dropped 11¢ to close at 64¢. The company has 102.7 million shares outsthanding.
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