IC Potash Corp. (TSX:ICP,OTCQX:ICPTF) announced the expansion of the Polyhalite Ochoa Project in New Mexico. The Company increases state lease holdings to nearly 28,000 acres; combined state mining leases and federal prospecting permits now span 160 square miles.
As quoted in the press release:
The Company has secured an additional 1,914 acres of land in Lea County from the New Mexico State Land Office, increasing its total State lease and federal permit holdings in the region to approximately 101,500 acres spanning 158.6 square miles.
IC Potash Corp. President and CEO, Sidney Himmel said:
Based on findings of our original drilling program, the additional land granted by the State has been determined to be strategically important for our Ochoa Project, as it holds prospective mineralization that could expand Ochoa’s already significant resource base of Polyhalite. In addition, this new lease also covers land located approximately 1,500 feet from the planned mine shaft and ramp bottom (the location of which was designated by the Bureau of Land Management after the initial State leases were granted), making it available for mining in the early production phase of the near century-long mine life. We greatly appreciate the enthusiasm for our project and the tremendous support we continue to receive from the great State of New Mexico.