Pacific Potash Corp. Commences Drilling Of Second Potash Well On 100% Owned Provost Property And Provides Operational Update

TSXV SYMBOL: PP

VANCOUVER, Nov. 16, 2011 /CNW/ - Pacific Potash Corp. (TSX-V: PP, FSE: P9P) (the "Company") is pleased to report that drilling has begun on the 10-29-38-1W4M well, located within the Company's 100 % owned Provost Potash Property.  This well is the second to be completed at the 100% owned property, and is 10 km north of the recently completed 11-29-37-1W4M site. The Provost Potash Property is immediately west of the Alberta-Saskatchewan border, near the community of Provost, Alta.

The current second well is located about 3 km northeast of the historic PVR Provost 4-18-38-1W4, which was originally completed in 1994 for oil and gas.  Based on historic downhole gamma ray logs from this well, it is interpreted to contain two significant potash intervals within the top several meters of the Patience Lake Member of the Prairie Evaporite Formation (PEF).  The uppermost, beginning at about 1,310 m depth, contained a peak value of 375 API (~25% K2O*) within a 2.25 m interval, with a 2nd zone situated about 1 m below the first with a peak value of 225 API (~15% K2O*) within a 1.75 m interval.

The first well recently completed at the 100 % owned Provost Property was drilled and logged to a depth of approximately 1,460 meters.  This well was located approximately 1.5 km north of the historic Sage et al. well, for which historic logs indicate Potash at an approximate depth of 1,338 m, near the top of the PEF.  Downhole geophysical logs from the 1st well are consistent with historic results for the property.  The main potash bearing zone was encountered at a depth of approximately 1327.3 m to 1330.8 m, and is interpreted to lie within the upper parts of the Patience Lake Member of the PEF.

Once the second well is completed, all cores from both drill holes will be logged, split and forwarded to the Saskatchewan Research Council for analysis.  Geochemical results will be released once the Company is in receipt of them.

*Cautionary Language: Values reported are peak values and not necessarily representative of the interval reported.  The use of gamma ray logs to identify potash layers, while an important exploration tool, is dependent on many variables (background radiation levels, calibration errors, size of individual beds, etc.) and is not an absolute measure of grade and thickness.  The K2O values estimated here are based on Schlumberger's (1974) approximation of 15 API = 1% K2O for potash-bearing strata.  Until these intervals are confirmed by chemical analysis, they should not be considered as an absolute measure of grade across width.

Jody Dahrouge, P.Geol., Senior Vice-President of Exploration for the Company and a qualified person for the purposes of NI 43-101, has approved the preparation of the technical information in this news release.

We seek Safe Harbor.

On behalf of the Board,

Pacific Potash Corporation

Steven Khan, MBA, CFA
Director & CEO
604-629-7083

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.

Caution concerning forward-looking information

This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities laws. This information and statements address future activities, events, plans, developments and projections. All statements, other than statements of historical fact, constitute forward-looking statements or forward-looking information. Such forward-looking information and statements are frequently identified by words such as "may," "will," "should," "anticipate," "plan," "expect," "believe," "estimate," "intend" and similar terminology, and reflect assumptions, estimates, opinions and analysis made by management of Pacific Potash in light of its experience, current conditions, expectations of future developments and other factors which it believes to be reasonable and relevant. Forward-looking information and statements involve known and unknown risks and uncertainties that may cause Pacific Potash's actual results, performance and achievements to differ materially from those expressed or implied by the forward-looking information and statements and accordingly, undue reliance should not be placed thereon.

Risks and uncertainties that may cause actual results to vary include but are not limited to the availability of financing; fluctuations in commodity prices; changes to and compliance with applicable laws and regulations, including environmental laws and obtaining requisite permits; political, economic and other risks; as well as other risks and uncertainties which are more fully described in our annual and quarterly Management's Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available at www.sedar.com. Pacific Potash disclaims any obligation to update or revise any forward-looking information or statements except as may be required by law.


 

SOURCE Pacific Potash Corp.

For further information:

please visit our website at www.pacificpotash.com or contact investor relations:

Richard Tremblay
Pacific Potash Corporation 
Tel: 604-629-7095
Toll free: 1-855-629-7095
Email: rtremblay@pacificpotash.com

Profil de l'entreprise

Pacific Potash Corp.

Renseignements sur cet organisme


FORFAITS PERSONNALISÉS

Jetez un coup d’œil sur nos forfaits personnalisés ou créez le vôtre selon vos besoins de communication particuliers.

Commencez dès aujourd'hui .

ADHÉSION À CNW

Remplissez un formulaire d'adhésion à CNW ou communiquez avec nous au 1-877-269-7890.

RENSEIGNEZ-VOUS SUR LES SERVICES DE CNW

Demandez plus d'informations sur les produits et services de CNW ou communiquez avec nous au 1‑877-269-7890.