VANCOUVER, June 7, 2016 /CNW/ - Encanto Potash Corp.
("Encanto" or the "Company") (TSXV: EPO) is pleased to announce the
completion of a supplemental groundwater investigation as part of
the Environmental Impact Assessment (EIA). A four-hole
program was carried on their flagship Muskowekwan First Nation
(MFN) property. SNC-Lavalin Inc. was awarded the contract to run
the program to gain a better understanding of the subsurface
groundwater conditions in the area. The program serves a dual
purpose contributing to the EIA as well as the Feasibility
Study.
Drilling was completed using a mud rotary drill rig for the deep
holes and an auger drill rig for the shallow holes. The
maximum depth drilled was 240 m and a small diameter water well was
installed in each hole to obtain groundwater samples and water
levels. The depth to the first major aquifer was determined
to be greater than 60 m, which is regarded as positive in terms of
storage of potash tailings at the surface. Instrumentation
installed as part of this investigation will be used for ongoing
work toward obtaining environmental approvals or, potentially,
groundwater sourcing.
"We continue to believe that the MFN property is one of the best
undeveloped potash projects in Saskatchewan and are pleased with the positive
results from this initial drill program. We will continue to
advance the project for the ultimate goal of supplying a minimum of
2 million tonnes of potash to Metals and Minerals Trading
Corporation of India as per the
expanded Memorandum of Understanding announced April 13, 2016" stated Encanto CEO Jim Walchuck.
About Encanto:
Encanto Potash Corp. is a TSX Venture Exchange listed and traded
Canadian resource company engaged in the development of potash
properties in the Province of Saskatchewan, Canada, the largest producing
potash region in the world. Through a joint venture agreement with
Muskowekwan Resources Ltd. on our flagship Muskowekwan Project,
Encanto has a project land package which totals approximately
61,000 largely contiguous acres. A Pre-Feasibility Study dated
February 28, 2013 titled "Encanto
Potash Corp. Technical Report Summarizing the Preliminary
Feasibility Study for the Muskowekwan First Nations Home Reserve
Project in South Eastern Saskatchewan, Canada" confirms the Proven
& Probable KCI Reserves totaling 162 MMt grading 28% which
supports primary and secondary mining for over 50 years at an
assumed annual rate extraction rate of 2.8 million tons.
The Company also has a 5% interest in the 55,000 acre
Ochapowace/Chacachas property also located in Saskatchewan.
The technical content of this news release has been reviewed and
approved by James Walchuck, a
qualified person as defined by NI 43-101.
For additional information about Encanto Potash Corp., please
visit the Company's website at www.encantopotash.com or review the
Company's documents filed on www.sedar.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Per: "James Walchuck"
Chief Executive Officer
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 RELEASE.
THE FOREGOING INFORMATION MAY CONTAIN FORWARD-LOOKING
INFORMATION RELATING TO THE FUTURE PERFORMANCE OF THE COMPANY.
FORWARD LOOKING INFORMATION IS SUBJECT TO A NUMBER OF KNOWN AND
UNKNOWN RISKS, UNCERTAINTIES AND OTHER FACTORS THAT MAY CAUSE
ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE ANTICIPATED IN OUR
FORWARD LOOKING STATEMENTS. SUCH RISKS AND OTHER FACTORS INCLUDE,
AMONG OTHERS, THE OUTCOME OF NEGOTIATIONS WITH THIRD PARTIES, THE
ACTUAL RESULTS OF EXPLORATION ACTIVITIES, CHANGES IN WORLD
COMMODITY MARKETS OR EQUITY MARKETS, THE RISKS OF THE MINING
INDUSTRY INCLUDING, WITHOUT LIMITATION, THOSE ASSOCIATED WITH THE
ENVIRONMENT, DELAYS IN OBTAINING GOVERNMENTAL APPROVALS, PERMITS OR
FINANCING OR IN THE COMPLETION OF DEVELOPMENT OR CONSTRUCTION
ACTIVITIES, TITLE DISPUTES, CHANGE IN GOVERNMENT AND CHANGES TO
REGULATIONS AFFECTING THE MINING INDUSTRY, AND OTHER RISKS AND
UNCERTAINTIES DETAILED FROM TIME TO TIME IN THE COMPANY'S FILINGS
WITH THE CANADIAN SECURITIES ADMINISTRATORS (AVAILABLE AT
WWW.SEDAR.COM). FORWARD-LOOKING STATEMENTS ARE MADE BASED ON
VARIOUS ASSUMPTIONS AND ON MANAGEMENT'S BELIEFS, ESTIMATES AND
OPINIONS ON THE DATE THE STATEMENTS ARE MADE. SHOULD ONE OR MORE OF
THESE RISKS AND UNCERTAINTIES MATERIALIZE, OR SHOULD UNDERLYING
ASSUMPTIONS PROVE INCORRECT, ACTUAL RESULTS MAY VARY MATERIALLY
FROM THOSE DESCRIBED IN THE FORWARD-LOOKING INFORMATION CONTAINED
HEREIN. THE COMPANY UNDERTAKES NO OBLIGATION TO UPDATE
FORWARD-LOOKING STATEMENTS IF THESE ASSUMPTIONS, BELIEFS, ESTIMATES
AND OPINIONS OR OTHER CIRCUMSTANCES SHOULD CHANGE, EXCEPT AS
REQUIRED BY APPLICABLE LAW.
SOURCE Encanto Potash Corp.
