VANCOUVER, Nov. 3, 2011 /CNW/ - Pacific Potash Corporation (TSX-V: PP)
(FSE: P9P)(the "Company") is pleased to report that the 11-29-37-1W4m
well, located within the company's 100% owned Provost Potash Property
has been drilled and logged to a depth of approximately 1460-m. This
well was located west of the Alberta-Saskatchewan Border, near the
community of Provost Alberta, and represents one of the first well's
completed in the province to specifically targeted Potash.
Grizzly Discoveries Inc. ("Grizzly") and the Company have completed site
preparations at the 10-11-40-1W4M location, the first well to be
drilled within the 50:50 Property. The drill rig has been mobilized to
the site and drilling should commence shortly.
The 50:50 Provost Property is jointly owned by Pacific Potash Corp. and
Grizzly, and initial potash exploration drilling on the property in
2011 is funded jointly by Grizzly and Pacific in proportion to their
respective 50% interest.
Within the region, the potash-bearing Patience Lake, member of the
Prairie Evaporite formation, is anticipated to range from three to six
metres thick, at depths of 1,300 to 1,450 metres. It is anticipated
that this well will take approximately seven to 10 days to complete and
Jody Dahrouge, P.Geol, senior vice-president exploration of 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.
About Pacific Potash Corporation
Pacific Potash is engaged in the exploration and development of the
Provost Potash Property and the surrounding potash claims located in
the prolific Prairie Evaporite Formation, which is host to multiple
conventional and solution potash mines. The company is also actively
looking to acquire other prospective potash assets in North America.
On behalf of the Board,
Pacific Potash Corporation
Balbir Johal, B.A, LL.B
Director and Chairman
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.
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