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IC Potash Corp. (TSX:ICP,OTCQX:ICPTF) reported that the Phase 3 drill program at its Ochoa Sulphate of Potash Project in Lea County, New Mexico, has confirmed the thickness and grades of polyhalite and has substantiated the Ochoa Project’s ore as accessible.
As quoted in the press release:
The bed continues to exhibit consistent mineral and chemical compositions throughout. The Phase 3 drill program was successfully completed with 12 exploration core holes during the period from August 4, 2012 to March 24, 2013. The analytical data was completed in late May 2013.
Core samples collected during Phase 3 are being used in the Company’s pilot plant optimization work being conducted by HPD, Inc. in connection with the Feasibility Study. The rock core is also being used to confirm rock mechanics necessary for preparation of the detailed mine plan.
ICP intends to prepare an updated mineral resources and reserves estimate for inclusion in the Definitive Feasibility Study, the results of which are expected to be published during the third quarter.
ICP President and CEO Sidney Himmel said:
The successful outcome of our Phase 3 drill program has served to continue supporting the fact that our Ochoa Project is a long-life, high quality asset capable of producing premium quality SOP from polyhalite at significantly lower costs than other prevailing SOP production methods. With our Feasibility Study on schedule to be completed during the third quarter, we look forward to sharing the detailed findings of the drill program, including a revised estimate of Ochoa’s mineral resources and reserves.
Click here to read the IC Potash Corp. (TSX:ICP,OTCQX:ICPTF) press release
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