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Sage Potash Corp. (TSXV: SAGE,OTC:SGPTF) (OTCQB: SGPTF) ("Sage Potash" or the "Company") is pleased to announce the successful completion of drilling operations at the Peterson 1 well, located at the Company's Sage Plain Potash Project in southeast Utah.
The Peterson 1 well reached a total depth 2,248 metres, successfully intersecting the targeted Cycle 18 Upper and Lower potash-bearing beds. Continuous core has been recovered from both mineralized intervals and is being prepared for shipment to the Saskatchewan Research Council ("SRC") in Saskatoon, Saskatchewan, where it will undergo detailed geological logging and assays.
In addition to the recovered core, the Company is currently completing a comprehensive suite of downhole geophysical surveys, including a gamma ray survey which identifies the presence of potash and provides valuable geological data to complement the laboratory results.
Patricio Varas, Chief Executive Officer of Sage Potash, commented:
"Our team is pleased to witness the successful recovery and logging of core from the potash beds and the completion of the drill program" commented Pat Varas, Chief Executive Officer of Sage Potash. "We look forward to the assay results in order to expand and upgrade the resource and confirm the quality of this outstanding Potash asset."
The Peterson 1 drill program was designed to validate the continuity, thickness and grade of the Company's potash mineralization while collecting critical geological information to support future resource updates, engineering studies and project development.
The Company will continue to provide updates as results become available.
Qualified Person
The scientific and technical information contained in this news release has been reviewed and approved by Greg Vogelsang, P.Geo., P.Eng. the Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects. Mr. Vogelsang is Vice President Project Development for the Company.
About Sage Potash Corp.
Sage Potash Corp. (TSXV: SAGE,OTC:SGPTF) (OTCQB: SGPTF) is dedicated to the development of its flagship Sage Plain Potash Project, located in the Paradox Basin, Utah. With a large and high-grade resource base, the Company is advancing toward its goal of establishing a secure and sustainable domestic potash production platform in the United States. Sage Potash is committed to food security, environmental stewardship, and creating value for shareholders and stakeholders alike.
On Behalf of the Board of Directors,
J. Patricio Varas, CEO and Director
1 (236) 521-1521
Website: www.sagepotash.com
For media inquiries, please contact:
Marcus van der Made, Investor Relations
IR@sagepotash.com
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.
Cautionary Note Regarding Forward-Looking Statements
This news release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities legislation. The forward-looking statements herein are made as of the date of this news release only, and the Company does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budgets", "scheduled", "estimates", "forecasts", "predicts", "projects", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking information in this news release includes, but is not limited to, statements with respect to future events or future performance of Sage Potash, including the completion of downhole geophysical surveys, future release of assay results and the Company's ability to upgrading the Project's potash resource estimate. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of the Company to control or predict, that may cause the Company's actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including, but not limited to, the risk factors set out under the heading "Risk Factors and Uncertainties" in the Company's Management's Discussion & Analysis available for review under the Company's profile at www.sedarplus.ca. Such forward-looking information represents management's best judgement based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/308286
