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Red Moon Potash Inc. (TSXV:RMK) announced that it has received approval to start drilling at its Bay St. George potash project.
Red Moon Potash Inc. (TSXV:RMK) announced that it has received approval to start drilling at its Bay St. George potash project.
As quoted in the press release:
Previous work in the basin located a new potash discovery in the Captain Cook area with variable grades up to 20% K2O (32% KCl). The current program will step out from the discovery hole to better understand the potash distribution in that area. The Company has the benefit of an extensive seismic database in the basin to integrate new drill results and better define the distribution of the evaporite rocks which contain the potash beds. The property has immediate access to deep water ports, road and power grid networks. The property is contained within the larger Maritimes Basin of Atlantic Canada which hosts the Sussex, (New Brunswick) Potash Mine operated and currently under expansion by Potash Corporation of Saskatchewan.
Red Moon’s President, Patrick Laracy, said:
We are very excited to be once again at the forefront of new resource exploration in western Newfoundland. This program will help determine the commercial prospects of the Captain Cook area. There are several other prospects on the 90,000 acre property that will require testing as well. Ultimately the exploratory phase will include 8-10 holes. Notwithstanding the tepid equity markets we are advancing this project towards attracting a joint venture partner for development work. The available infrastructure and the analogous geology to the potash mine in New Brunswick make for a compelling project.
To view the whole press release, click here.
