Vatic Ventures Corp. (TSXV: VCV) (FSE: V8V) (OTC Pink: VTTCF) (the “Company” or “Vatic”) is pleased to provide an update on its upcoming drilling program at its Saksrithai potash project.
Vatic Ventures Corp. (TSXV: VCV) (FSE: V8V) (OTC Pink: VTTCF) (the “Company” or “Vatic”) is pleased to provide an update on its upcoming drilling program at its Saksrithai potash project. The contractor is Aztec Engineering Co. Ltd., an experienced and reputable drilling contractor who has extensive experience drilling for potash in Thailand. Drill preparation and mobilization to the first drill site is ongoing and drilling is planned to commence by May 1, 2018.
The drilling program will comprise up to 10 holes and will commence with an initial 3 holes which should take approximately one month from start of drilling, depending upon penetration rates. Based on information regarding the adjacent Dan Khun Thot project, Vatic expects to encounter the potash zone at depths of up to some 300 meters and the initial holes will be drilled to a planned depth of 350 meters.
To facilitate its ongoing exploration program, the Company’s main geological contractor, Phudoi Geoscience Co. Ltd., will hire additional geologists and field assistants to supervise the programme of drilling and sampling.
About Saksrithai Development Co. Ltd: Saksrithai Development Co. Ltd. (Saksrithai) is a private Thai company which is the holder of two contiguous Special Prospecting Licences (SPLs) for potash exploration, issued in 2015.
The licenses encompass an area of 32 km2 in Nakhon Ratchasima province, northeast Thailand and are adjacent to the Thai Kali Company’s Dan Khun Thot potash mine which is currently under construction. ASEAN Potash Chaiyaphum Plc’s Bamnet Narong mine, also under construction, is located some 40 km from the Saksrithai project.
The Company holds an 80% shareholding in Saksrithai and Dr. Gerry Wright acts as Saksrithai’s Managing Director.
ON BEHALF OF THE BOARD OF DIRECTORS.
Nasim Tyab, Director.
FOR FURTHER INFORMATION PLEASE CONTACT:
ABOUT VATIC VENTURES CORP.
Vatic Ventures Corp (www.vaticventures.com) is a junior exploration company exploring and developing potash licenses in Thailand.
“Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.” The information contained herein contains “forward-looking statements” within the meaning of applicable securities legislation. Forward-looking statements relate toinformation that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be “forward-looking statements.” Forward-looking statements are subject to a variety of risks and uncertainties that could cause actual events or results to differ from those reflected in the forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company’s expectations or projections.