- Published: 09 December 2011
- Written by Editor
North American Potash Developments Inc. Intersects Up to 24.5% of K2O in Lisbon Valley Potash Project
North American Potash Developments Inc. (TSX-V: NPD.V - News)(OTCQX: RNGTF.PK - News)(Frankfurt: 3OZ.F - News) (the "Company" or "NAPDI") is pleased to announce all assay results from its recent 3,449 foot rotary drill and core hole on its Lisbon Valley Potash Project in Utah. NAPDI has received, reviewed and analyzed the assay results which show that exploration targets K-6 and K-9 total 15 feet in thickness, at an average K2O concentration of 10.4% (equivalent to 16.4% KCl). A total of sixty-three (63) one-foot composite core samples from drill hole RBV-11-36A-1 were sent to SGS Minerals Services analytical laboratory in Lakefield for XRD analysis and Water Leach analysis.
"These initial results from the Lisbon Valley drill program are a validation of the hard work the NAPDI team has committed to on the Lisbon Valley potash project. The Potash mineralization in the Lisbon Valley has been documented for decades, We knew that we had the potential for a very large system here, based on our project being in what has been defined as a KPLA (Known Potash Leasing Area) these results strongly suggest that the Project area is a viable exploration target for potash solution mining, and that further rotary drilling and coring are justified to develop JORC- or NI 43-101-compliant estimates of potash resources and reserves for the Project area. We have only just begun to test the potential of these huge target areas," comments Mr. Simon Tam, President of North American Potash Developments.
The drill program intersected and cored two distinct potash beds: bed 6 (K-6) from 2656 feet to 2675 feet (19ft) and bed 9 (K-9) from 3398.2-3412.2 (24ft). K-9 had the greater average potash concentration, with 5 feet of 13.5% K2O (21.3% KCl) located from 3,398 to 3,403 feet, and with a maximum K2O concentration of 24.5% (38.7% KCl). K-6 had a net 10 feet of significant potash across the 2,661 to 2,675 feet depth interval, which averaged 8.9% K2O (14.0% KCl). The summary results are shown in the table below.
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Depth Expl. Target Net
Potash Interval Thickness in ft Average Average Average
Zone (ft) (m) %K2O %KCl %K2O-m
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K-6 2661-2675 10 (3.05) 8.9 14.0 27.1
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K-9 3398-3403 5 (1.52) 13.5 21.3 20.6
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K-6+K-9 15 10.4 16.4
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These K2O and KCl concentrations are within or just below the range reported by Transit Holdings for its Paradox Basin Potash Project. The Transit Project is located immediately west of the Lisbon Valley area, and lies generally between Lisbon Valley and Intrepid's Moab mine.
Transit reports average KCl concentrations ranging from 16% to 30% (10% K2O to 19% K2O equivalent) for potash beds 13 and 18, based on a study conducted by Agapito Associates. Agapito used a cumulative grade by thickness cutoff of 20% K2O-m in defining JORC-compliant potash exploration targets for Transit. The entries in the rightmost column in the table above demonstrate that both K-6 and K-9 meet that cutoff criterion.
In mid-October 2011, American West Potash (AWP) released a NI 43-101 report on its Holbrook Basin properties in Arizona, which was prepared by North Rim Exploration (NR). NR used a grade by thickness cutoff of 12.2% K2O-m in defining "Geological Resource", and "when possible an overall geological interval grade cut off of 8% K2O." In the table above, both the Average K2O values and the grade by thickness values exceed those used by NR for the AWP report.
Core and Assay Result Details
In potash bed 9 (K-9), from 3398 to 3412.2 feet depth (24ft), the potash ranged from granular, massive to and yellowish gray in colour at the top of the bed to laminated gray at the bottom of the bed. The table below illustrates select values of K2O% from the potash bed.
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Thickness
From feet To feet feet %K2O
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3398.0 3399.0 1 24.5
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3399.0 3400.0 1 15.1
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3400.0 3401.0 1 6.96
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3401.0 3402.0 1 11.8
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3402.0 3403.0 1 9.05
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Potash from bed six (K-6) is granular and medium dark gray interbedded with sylvite and the top of the interval and light brown interbedded with halite and the bottom the section. The table below illustrates select values of K2O% from the potash bed.
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Thickness
From feet To feet feet %K2O
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2661.0 2662.0 1 9.14
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2662.0 2663.0 1 6.57
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2663.0 2664.0 1 6.47
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2664.0 2665.0 1 5.78
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2665.0 2666.0 1 2.49
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2666.0 2667.0 1 5.40
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2667.0 2668.0 1 12.4
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2668.0 2669.0 1 7.01
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2669.0 2670.0 1 7.89
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2670.0 2671.0 1 2.34
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2671.0 2672.0 1 10.4
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2672.0 2673.0 1 8.91
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2673.0 2674.0 1 10.3
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2674.0 2675.0 1 9.47
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Potash was first discovered in the Paradox Basin in an oil and gas well in 1924. In 1962, Superior Oil Company drilled the first potash at the crest of the Lisbon Valley anticline. Since 1964, potash and by product salt have been produced from the Cane Creek mine. The Cane Creek mine was first owned and operated by Texas Gulf Sulphur, and is now owned and operated by Intrepid Potash Company. Potash was originally produced by underground mining and, in 1970, the mine was converted to solution mining. Solution mining has proven to be the ideal process in the project area because of the hot summers and low humidity. The mine has produced nearly continuously since 1964, and reportedly has a future mine life of 30 years.
About North American Potash Developments Inc.
North American Potash Developments Inc. Lisbon Valley project consists of nine state mineral leases totalling 6,421 acres and applications for potash prospecting permits, totalling 24,640 acres. The project is located in San Juan County, Utah, within the Paradox Basin, a large sedimentary basin containing rocks of Pennsylvanian to Cretaceous age. The salt and potash beds are in the Pennsylvanian Paradox formation that is over 4,000 feet thick, with 29 separate cycles of salt, potash and clastic sediments. The potash beds are located near the top of the evaporate sequence and occur at depths of 3,000 to 4,800 feet in the project area.
Technical information in this news release has been reviewed by Stuart Havenstrite, P.Geo., a qualified person as defined in NI 43-101.
On behalf of the Board of Directors
Simon Tam, President & Director
Disclaimer and Cautionary Statement Regarding Forward-Looking Information
This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction.
All statements, trend analysis and other information contained in this press release relative to markets about anticipated future events or results constitute forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. Forward-looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking statements. Forward-looking statements are based on estimates and opinions of management at the date the statements are made. The Company does not undertake any obligation to update forward-looking statements even if circumstances or management's estimates or opinions should change. Investors should not place undue reliance on forward-looking statements. North American Potash Developments Inc. seeks safe harbor.
Neither 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 press release.
Contact:
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