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Potash Ridge Corporation (TSX:PRK,OTCQX:POTRF) announced the approval of its application for the required water rights for its Blawn Mountain sulphate of potash project. The securing of the relevant water rights will be critical to the future success of the project.
As quoted in the press release:
The Corporation, through its wholly owned subsidiary, Utah Alunite Corporation, jointly applied with the Utah School and Institutional Trust Lands Administration (“SITLA”) to the State Engineer of the State of Utah, Department of Natural Resources, Division of Water Rights in August 2012 for the appropriation of the water rights in the Wah Wah Valley near the Project site. This regulatory approval is an important step in the development of the Project, and meets the water requirements of the Project as determined in the prefeasibility study, released in late 2013. The water rights were approved for an initial term of twenty years, subject to certain conditions, with the term being eligible for additional extensions so long as the Project continues in operation.
Potash Ridge CEO, Guy Bentinck, said:
We are extremely pleased to have secured these water rights which represents a significant milestone in the development of the Project. I would like to thank SITLA for their support throughout this important regulatory process. We are continuing to move the project forward in our efforts to develop the Project into an anticipated future source of SOP production.
Click here to read the Potash Ridge Corporation (TSX:PRK) press release
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