Western Potash Corporation
Acquisition, evaluation and exploration of potash mineral properties in Western Canada.
Message: Completes First Well at Milestone, Three Potash Members Intersected
| May 26, 2009 | |
| Western Potash Corp. Completes First Well at Milestone, Three Potash Members Intersected | |
|
VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 26, 2009) - Western Potash Corp. (the "Company") (TSX VENTURE:WPX)(FRANKFURT:AHE) is pleased to announce that it has completed its first potash exploration well on the Milestone property in southern Saskatchewan. The Milestone property, comprising approx. 500 square km, is located approximately 30 km southeast of Regina, and southeast of Mosaic's Belle Plaine Mine, one of the largest producing potash solution mines in the world. The property is immediately adjacent to the Regina Potash Property held by Vale, and potash permits held by BHP-Billiton, and Potash One. Seismic data confirming the presence of potash prospective salt beds on the eastern portion of the Milestone property, have highlighted a sizeable and attractive new exploration target area amenable to solution mining technologies. The exploration area already has water, power, natural gas and rail infrastructure to serve the project, allowing the transportation of the final product to Vancouver and the Asian markets. The first well, drilled vertically, was drilled to a total depth of 1,776m. Coring commenced at a depth of 1,640m, and intersected the Prairie Evaporite Formation at a depth of 1,657m. A total of 24.5m of potash mineralization was drilled. Visual observation and down hole logging indicate the presence of the following potash members; Member From (m) To (m) Thickness (m) Patience Lake 1660 1672 12 Belle Plaine 1674 1679 5 Esterhazy 1697.5 1705 7.5 Visual interpretation of the gamma ray logs from this zone suggests a moderate to strong potash grade within this zone. The logs also indicate minimum formation temperatures of 62 degrees C, confirming the strong heat anomaly described by Holter (1969) underlying the property. Temperature is important because higher formation temperatures improve the potash dissolution process, and reduce heat input required for the injected brines thereby significantly reducing production costs. The temperatures in this part of the potash belt are considered very good for production of potash from a solution mining operation. Samples from the three potash zones will now be submitted for analysis at the SRC laboratory in Saskatoon. Results are expected to be obtained within 4-6 weeks. The Company is very encouraged by the results received to date, as the geological setting and mineralization are consistent with characteristics of other potash deposits in Saskatchewan. The Company plans to drill two additional wells within the Milestone property using a drill rig supplied by Red Dog Drilling Inc. The drill program's purpose is to define the extent, grade, thickness and type of potash mineralization present on the property. All holes will be drilled vertically targeting the Prairie Evaporite formation, which will be conventionally cored using invert drilling fluids so as to not dissolve the salt and potash sequences. Samples will be collected from the potash sequence for description and analysis, and each hole will be logged using industry standard down-hole geophysical logging techniques. The Company has budgeted approximately $5.4 million CAD for this drill program, and will be well positioned to prepare a NI 43-101 compliant resource calculation on the Milestone property during 2009 should drilling results continue to be positive. Western Potash Corp. is a mineral exploration company engaged in the evaluation, exploration and development of potash mineral properties in Western Canada. The Company intends to define and develop a world-class potash deposit in an ecologically sustainable, economically efficient and socially responsible manner. The in-house qualified persons for the purposes of NI 43-101 guidelines are J. Patricio Varas, P. Geo and Dean Pekeski, P. Geo, both of whom have reviewed and approved the contents of this news release. ON BEHALF OF THE BOARD OF DIRECTORS J. Patricio Varas, President and CEO |
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