Passport Potash Signs LOI to Acquire 50% Ownership Interest in HNZ Potash, LLC

Passport Potash, Inc. (TSXV:PPI,OTCQX:PPRTF) reported that it has signed a letter of intent to acquire 50% Ownership interest in HNZ Potash, LLC.

As quoted in the press release:

When combined the properties will contain over 200,000 acres of mineral rights and will cover over 300 square miles. Following the release of Passport’s NI 43-101 from SRK containing an exploration potential, the Company intends to jointly prepare an NI 43-101 resource report with HNZ Potash. Exploration activities of the combined companies that have been completed to date consist of over 50 drilled wells and over 100 lines miles of 2D seismic.

To view the combined properties, please click on the following link: https://passportpotash.com/images/map/LandStatusMap.pdf.

Passport President and CEO, Joshua Bleak commented:

“We are extremely excited with the prospects which this LOI presents to the Company. The added lands are an ideal complement to our current land position. Looking at the map we now have contiguity from our lands on the west side of the basin down to our southern sections and from there up to our sections on the east side. We look forward to working with HNZ Potash and believe that the synergy created by this combination, in addition to providing a more detailed delineation of the potash deposition in this area, will move the companies forward in ways that were impossible working separately.”

Click here to read the Passport Potash (TSXV:PPI,OTCQX:PPRTF) press release. 

Click here to view the Passport Potash (TSXV:PPI,OTCQX:PPRTF) profile.