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
We seek Safe Harbor.
On behalf of the Board,
Pacific Potash Corporation
Steven Khan, MBA, CFA
Director & CEO
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
SOURCE Pacific Potash Corp.
For further information:
please visit our website at www.pacificpotash.com or contact investor relations:
Pacific Potash Corporation
Toll free: 1-855-629-7095