Passport Potash Inc. (TSXV:PPI,OTCQX:PPRTF) received analytical results from the first two wells drilled and cored as part of its 2012 drilling program. Analyses returned 3.05 metres of 17.07% KCl from drill hole PPI-2012-01 and 1.99 metres of 16.82% KCl from drill hole PPI-2011-31.
As quoted in the press release:
Included within the potash interval of PPI-2012-01 were 0.99 metres of 27.83% KCl which included 0.23 metres of 45.43% KCl. Included within the potash interval of PPI-2011-31 were 0.70 metres of 28.37% KCl which included 0.17 metres of 41.00% KCl. Drill intercepts are believed to represent true thicknesses as the wells were drilled vertically and the potash beds are essentially flat lying.
Passport Potash President and CEO Joshua Bleak said:
“We are extremely pleased with the results as we continue with our current drill program to further define our resource. These two results will be added to our resource calculation and help to define the deposit of which we currently only have a calculation for 40% of our total land package. Once we complete our 2012 drill program, we anticipate our updated resource calculation will cover a much greater percentage of our land holdings.”
Get Our Expert Guide to Potash Investing FREE!Download this FREE Special Report, What is Potash? From Types of Potash to Potash Stocks