American Potash (the “Company”) (AMP:CSE) have concluded acquisition of a 640-acre Colorado State Exploration Permit.
The new state exploration permit adds 640-acres to AMP’s Colorado Li Project, provides access to the property and adjacent Federal lands for up to 4-years, and allows for exploration and initial development activities of Li and other potentially valuable minerals (Br, K, etc.) concentrated in sub-surface brines.
Subsequent to expiration of the 4-year exploration mineral lease, the lease can be converted into a Colorado State Mineral Lease based on positive exploration results. A state mineral lease will allow development and ultimately production of Li and other elements of value, excluding hydrocarbons (oil, gas, coal, etc.).