Vatic Prepares for the Initial Drilling Programme for the Saksrithai Potash Project, Following Review of Processed Seismic Data
Vatic Ventures Corp. (TSXV:VCV) (Frankfurt:V8V) (the “Company” or “Vatic”) is pleased to announce that, further to its News Release dated April 25, 2017, it has now received and reviewed the processed seismic survey data from the recently completed field programme.
Vatic Ventures Corp. (TSXV:VCV) (Frankfurt:V8V) (the “Company” or “Vatic”) is pleased to announce that, further to its News Release dated April 25, 2017, it has now received and reviewed the processed seismic survey data from the recently completed field programme. This data will form the basis for the initial drilling programme at its Saksrithai potash exploration project, Thailand.
The seismic contractor, Geocon Limited, completed a total of some 27.5 line-kilometres of survey within the 32 km2 licence area and the raw field data has now been processed by Velseis Processing Pty Ltd., in Australia. Data quality is good and the initial review of the data demonstrates structural continuity with the adjacent Dan Khun Thot potash project, which is presently under construction.
In the Khorat basin, potash is found near the top of the lower salt horizon, which is generally encountered between 200 to 350 metres below the surface.
The seismic data indicate a number of areas where the reflectors are relatively horizontal and these areas will be the focus for the initial drill holes. Also, as expected, some post-depositional ‘domal’ structures are evident within the licence block and other projects within the Khorat basin have shown that the presence of such structures can lead to enrichment of the potash grade in the surrounding area.
This seismic data will form the basis for planning the hole locations for the Phase 1 drilling programme scheduled to commence by late-October, at the end of the current wet season in the region. The initial drill holes will enable calibration of the seismic data to give more detailed information regarding depth and thickness of the underlying structures. In addition, up to 12 line-km of additional seismic survey will be undertaken to finalise the drilling plan.
Aztec Engineering Co., Ltd. has been selected as the contractor for the programme and, together with the Company’s technical consultants and the seismic contractor, will advise on the final drilling plan.
Dr. Gerry Wright, the Company’s CEO, commented that the initial seismic survey has produced valuable sub-surface and structural information, enabling the Company to prepare for its initial drilling programme, which will allow Vatic to begin quantifying the potential potash resource within its licence area.
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.
The technical content of this release has been reviewed and approved by Mr. Derrick Strickland, PGeo., a qualified person as defined by National Instrument 43-101.
ON BEHALF OF THE BOARD OF DIRECTORS.
Dr. Gerry Wright, CEO and Director.
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ABOUT VATIC VENTURES CORP.
Vatic Ventures Corp (www.vaticventures.com) is a junior exploration company and continues to assess new opportunities and prospects.
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