Passport Potash, Inc. Intersects Up to 25.75% KCL Potash Mineralization at Relatively Shallow Depths
June 20 2011 - 7:30AM
Marketwired
Passport Potash, Inc. (TSX VENTURE: PPI)(OTCQX: PPRTF) is pleased
to report preliminary results from two core holes that have
intersected significant potash deposits at relatively shallow
depths in the Holbrook evaporite basin. According to chemical assay
results obtained from Skyline Laboratories in Tucson, Arizona,
PPI2011-04 ("Core 1") intersected 9.5 feet (1463.0-1472.5 feet) of
12.29% KCL which includes a 4.0 foot (1465.5-1469.5 feet) interval
containing 18.28% KCL. PPI2011-6 ("Core 2") intersected 7.5 feet
(1437.5-1445.0 feet) of 11.93% KCL within which includes a 2.5 foot
(1439.0-1441.5 feet) interval containing 24.34% KCL.
Passport Potash President and CEO Joshua Bleak commented: "We
are very pleased with the drill results we have received. These
results are consistent with what we believed the deposit would be
like based on the extensive historic data from this area of the
basin and similarities to the deposit currently being mined in
Carlsbad, New Mexico. Ultimately, the NI-4301 report will define
the nature and extent of our resource. We are looking forward to
the release of our initial resource report and further drill
results in the coming weeks."
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.
Stephen B. Butrenchuk, P.Geol., Director of Passport, is the
Qualified Person as defined in National Instrument 43-101, who has
reviewed and approved the technical content of this news
release.
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: 866-999-6251 peter@passportpotash.com
Passport Potash, Inc. Clive Mostert Corporate Communications
780-920-5044 cmostert@passportpotash.com www.passportpotash.com
Passport Potash Inc. (TSXV:PPI)
Historical Stock Chart
From Apr 2024 to May 2024
Passport Potash Inc. (TSXV:PPI)
Historical Stock Chart
From May 2023 to May 2024