Passport Potash NI 43-101 Technical Report on Exploration Potential
posted on
Nov 04, 2011 04:06PM
Passport offers investors the opportunity to benefit, not only from Passport’s entry into the U. S. and global markets, but also from the favorable trends in the potash market.
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 2, 2011) - Passport Potash Inc. (TSX VENTURE:PPI) ("Passport") is pleased to announce that it has received a NI 43-101 compliant technical report on the exploration potential for Passport's Holbrook Basin Project. The Company expects that the report will be filed on SEDAR and will be readily available for public viewing by Friday November 4th, 2011. The report, prepared by SRK Consulting (US) Inc. (SRK), indicates that it is possible to assess the exploration potential for Passport's lands, using only Passport's verifiable drill data as an order of magnitude estimate. In that regard, SRK has reported that:
Exploration Potential on Passport Controlled Lands - Holbrook Basin | ||||
Thickness | Grade | Tonnage | Contained K2O | Contained KCL |
(meters) | (%K2O) | (million tonnes) | (million tonnes) | (million tonnes) |
2.6 to 18.4 | 3.2 to 9.4 | 5,500 to 6,000 | 290 to 315 | 460 to 500 |
Based on Passport Drilling. Source: SRK, 2011 |
Findings in support of SRK's estimated exploration potential are that:
Passport's President Joshua Bleak states, "We are very excited by what we have read and considered. A lot of hard work and effort has been put into this report and we are pleased to see that the project merits further exploration and development. SRK has made recommendations regarding this and related matters. We look forward to completing additional drilling on lands that were not included in this initial report."
About Passport Potash Inc.
Passport Potash Inc. is a publicly traded corporation engaged in the exploration and development of advanced potash properties with its major focus on a previously explored potash property in Arizona. Passport has acquired a strategic position in the Holbrook Basin with land holdings encompassing over 81,315 acres. For more information regarding the Holbrook Basin, please visit http://www.azgs.az.gov/arizona_geology/archived_issues/Summer_2008.pdf.
Stephen B. Butrenchuk, P.Geol., Director of Passport, is the Qualified Person as defined in National Instrument 43-101, who has reviewed and approved the technical content of this news release.
On behalf of the Board of Directors of Passport Potash Inc.
Joshua Bleak, President