TRADING SYMBOL: TSXV:EPO
VANCOUVER, Jan. 14, 2014 /CNW/ - Encanto Potash Corp. ("Encanto" or the
"Company") (TSXV: EPO and OTCQX: ENCTF) announces that the drilling of
a new well has been completed on the Company's second project, the
Ochapowace/Chacachas property. The total depth of the hole was
approximately 1350 metres and company drillers have cored +/- 80 meters
of the Prairie Evaporite formation. Analysis of the core is being
performed by North Rim Consulting of Saskatoon and is expected to be
completed in early February, 2014.
"We're pleased to be executing confirmatory drilling on the
Ochapowace/Chacachas property to determine the grade of potash at
depth. Encanto remains focused on our flagship Muskowekwan project,
however this second project remains very important to Encanto and its
partners, including the First Nations and surrounding community and
Encanto continues to maintain the asset in good standing through
on-going exploration efforts" stated Encanto CEO and President, Jim
Encanto Potash Corp. is a TSX Venture Exchange listed and OTCQX traded
Canadian resource company engaged in the development of potash
properties in the Province of Saskatchewan, Canada, the largest
producing potash region in the world. Through a joint venture agreement
with Muskowekwan Resources Ltd. ("MFN JV") on our flagship property,
Encanto has a project land package which totals approximately 61,000
largely contiguous acres. A Pre-Feasibility Study dated February 28
2013 titled "Encanto Potash Corp. Technical Report Summarizing the
Preliminary Feasibility Study for the Muskowekwan First Nations Home
Reserve Project in South Eastern Saskatchewan, Canada" confirms the
Proven & Probable KCI Reserves totaling 162 MMt grading 28% which
supports primary and secondary mining for over 50 years at an assumed
annual rate extraction rate of 2.8 million tonnes.
The Company has an interest in two additional potash properties in
Saskatchewan: 20% interest in the 55,000 acre Ochapowace/Chacachas
property and 100% interest in the 55,437 acre Spar property.
Encanto is currently exploring domestic & international strategic
partnerships for the financing, development and sale of potash
production from its MFN JV Property.
The technical content of this news release has been reviewed by James
Walchuck, a qualified person as defined by NI 43-101.
For additional information about Encanto Potash Corp., please visit the
Company's website at www.encantopotash.com or review the Company's documents filed on www.sedar.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Per: "James Walchuck"
President and CEO
NEITHER 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.
THE FOREGOING INFORMATION MAY CONTAIN FORWARD-LOOKING INFORMATION
RELATING TO THE FUTURE PERFORMANCE OF THE COMPANY. FORWARD LOOKING
INFORMATION IS SUBJECT TO A NUMBER OF KNOWN AND UNKNOWN RISKS,
UNCERTAINTIES AND OTHER FACTORS THAT MAY CAUSE ACTUAL RESULTS TO DIFFER
MATERIALLY FROM THOSE ANTICIPATED IN OUR FORWARD LOOKING STATEMENTS.
SUCH RISKS AND OTHER FACTORS INCLUDE, AMONG OTHERS, THE ACTUAL RESULTS
OF EXPLORATION ACTIVITIES, CHANGES IN WORLD COMMODITY MARKETS OR EQUITY
MARKETS, THE RISKS OF THE MINING INDUSTRY INCLUDING, WITHOUT
LIMITATION, THOSE ASSOCIATED WITH THE ENVIRONMENT, DELAYS IN OBTAINING
GOVERNMENTAL APPROVALS, PERMITS OR FINANCING OR IN THE COMPLETION OF
DEVELOPMENT OR CONSTRUCTION ACTIVITIES, TITLE DISPUTES, CHANGE IN
GOVERNMENT AND CHANGES TO REGULATIONS AFFECTING THE MINING INDUSTRY,
AND OTHER RISKS AND UNCERTAINTIES DETAILED FROM TIME TO TIME IN THE
COMPANY'S FILINGS WITH THE CANADIAN SECURITIES ADMINISTRATORS
(AVAILABLE AT WWW.SEDAR.COM). FORWARD-LOOKING STATEMENTS ARE MADE BASED
ON VARIOUS ASSUMPTIONS AND ON MANAGEMENT'S BELIEFS, ESTIMATES AND
OPINIONS ON THE DATE THE STATEMENTS ARE MADE. SHOULD ONE OR MORE OF
THESE RISKS AND UNCERTAINTIES MATERIALIZE, OR SHOULD UNDERLYING
ASSUMPTIONS PROVE INCORRECT, ACTUAL RESULTS MAY VARY MATERIALLY FROM
THOSE DESCRIBED IN THE FORWARD-LOOKING INFORMATION CONTAINED HEREIN.
THE COMPANY UNDERTAKES NO OBLIGATION TO UPDATE FORWARD-LOOKING
STATEMENTS IF THESE ASSUMPTIONS, BELIEFS, ESTIMATES AND OPINIONS OR
OTHER CIRCUMSTANCES SHOULD CHANGE, EXCEPT AS REQUIRED BY APPLICABLE
SOURCE: Encanto Potash Corp.
For further information:
President and CEO
Martin Gagel CFA, MBA
Vanguard Shareholder Solutions
Toll Free: 1-866-918-0824