Vatic Ventures Corp. (TSXV:VCV) is pleased to provide details of its drilling contract with Aztec Engineering Co. Ltd. (“Aztec”) for its upcoming drilling program.
Aztec undertakes all types of drilling – mud rotary, RAB, RC, DTH, auger, wireline coring and cathodic protection groundbeds. Most of its drilling work has been performed in Southeast Asia but consulting work has taken it all over the globe. Joint venturing with Geocon Co. Ltd., Aztec offers shallow high resolution seismic surveys using the minie-Sosie system, which is ideal in rugged terrain for shallow oil and gas surveys and exploration for sedimentary minerals, such as coal or potash. Aztec has extensive experience drilling for potash in the Khorat Basin, and previously was the drilling contractor for the Udon project, developed by Asia Pacific Resources Ltd., a Canadian company credited with Thailand’s first commercial sylvanite discovery.
The logging tools included in the drilling contract with Vatic are:
- Electric Log. Parameters recorded are Natural Gamma (NG), Spontaneous Potential (SP), Single Point Resistivity (SPR), 16” Normal Resistivity (16N), 64” Normal Resistivity (64N) and Temperature. This log is recorded using a Robertson Geologging winch and surface equipment.
- Density Log. Parameters recorded are Guard Resistivity, Natural Gamma, Caliper, Density. This equipment is sourced from another supplier and recorded using a Century Geophysical winch and surface equipment.
- Neutron Log. The tool does not have the slant angle and azimuth capability. This is also a Century Geophysical tool.
- Full waveform sonic tool.
The drilling program comprises up to 10 holes and the locations for the first three holes have been confirmed. Based on information from the adjacent Dan Khun Thot project, it is anticipated that the potash zone will be encountered at depths up to 300 meters and the initial holes will be drilled to a planned depth of 350 meters. Depending upon drill penetration rates and weather conditions, it is anticipated that it will take approximately one month to complete the first three holes. The Company confirms that it has agreement from the landowners for the first three hole locations.
The technical information in this news release has been prepared in accordance with Canadian regulatory requirements set out in National Instrument 43-101 and reviewed and approved by Pieter J. Bakker, FAusIMM, a Qualified Person.
About Saksrithai Development Co. Ltd.
Saksrithai Development Co. Ltd. (Saksrithai) is a private Thai company which is the holder of two contiguous Special Prospecting Licenses (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 Co. Ltd.’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 Vatic’s CEO, 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 to information 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.