Transit Holdings – Drilling Commences on Potash Project

Mineweb reported that Transit Holdings (ASX:TRH) has begun potash drilling at the Paradox Basin.

The market news is quoted as saying:

Transit expects to complete first hole to a depth of 6,500 feet in approximately one month. Following completion of this hole the company plans to drill another 3 holes over coming months. The drilling will collect core samples of the potash horizons and is likely to confirm the presence of potash which has previously been detected by gamma logging of petroleum wells.

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