Passport Potash Inc. to Expand Holbrook Basin Exploration Program
April 01 2011 - 7:30AM
Marketwired
Passport Potash Inc. (TSX VENTURE: PPI)(OTCQX: PPRTF) announces
that it will be expanding its Holbrook Basin, Arizona exploration
program in connection with the option agreement entered into with
Ringbolt Ventures Ltd. The option agreement will allow Passport to
acquire a 100 percent interest in 15,994.32 acres of Ringbolt's
mineral exploration permits and to conduct a $2.25 million (U.S.)
exploration program on the optioned property.
Preliminary assessment of Passport's work plan indicates that
the expanded exploration program could include 10 new drill holes
and a 25-line mile seismic survey on the option property. This new
exploration program would increase Passport's total drill holes to
more than 30, with75-plus line miles of seismic survey.
Passport's current exploration program is being conducted on
Passport's holdings in the western portion of the Holbrook Basin.
Zonge International's seismic crew has completed data acquisition
for the 50 line-mile seismic survey on Passport's land holdings in
the Holbrook Basin. Additionally, seven exploration drill holes
have been completed at the Twin Buttes Ranch. Down hole geophysical
and assay results from these drill holes will be presented in the
NI 43-101 technical report being prepared by SRK.
Passport president Joshua Bleak stated, "Passport is looking
forward to exploring the eastern side of the Basin. Some of the
thickest portions of the potash deposit are located in this portion
of the Basin, and we anticipate this property to significantly add
to the value of our Holbrook Basin project."
About the Holbrook Potash Project
Passport Potash Inc. is a TSX-listed resource company engaged in
the exploration and development of advanced potash properties.
Passport has acquired a strategic position in the Holbrook Basin
with land holdings encompassing over 86,000 acres. In addition,
Passport has a cooperative agreement with the Hopi Tribe, allowing
the company to access and conduct certain exploration activities on
an additional 12,853 acres of privately held Hopi land (not
reservation) while allowing the tribe to share in the study
results. For more information regarding the Holbrook Basin, see
http://www.azgs.az.gov/arizona_geology/Summer%2008.pdf.
On behalf of the Board of Directors
PASSPORT POTASH INC.
Joshua Bleak, President
This news release includes certain statements that may be deemed
"forward-looking statements". All statements in this release, other
than statements of historical facts, including the likelihood of
commercial mining and possible future financings are
forward-looking statements. Although the Company believes the
expectations expressed in such forward-looking statements are based
on reasonable assumptions, such statements are not guarantees of
future performance and actual results or developments may differ
materially from those in the forward-looking statements. Factors
that could cause actual results to differ materially from those in
forward-looking statements include unsuccessful exploration
results, changes in metals prices, changes in the availability of
funding for mineral exploration, unanticipated changes in key
management personnel and general economic conditions. Mining is an
inherently risky business. Accordingly the actual events may differ
materially from those projected in the forward-looking statements.
For more information on the Company and the risks and challenges of
its business, investors should review the Company's annual filings
that are available at www.sedar.com.
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.
Contacts: Passport Potash Inc. Peter J. Kletas Corporate
Communications Toll Free: 1-866-999-6251 peter@passportpotash.com
Passport Potash Inc. Clive Mostert Corporate Communications
780-920-5044 cmostert@passportpotash.com www.passportpotash.com
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