IC Potash Corp. reports preliminary core results

TORONTO, Dec. 23 /CNW/ - IC Potash Corp. ("ICP" or "the "Company") (TSXV: ICP), announced today positive preliminary results from the first two drill holes of the Phase I drilling program of the Ochoa Potash Project. As expected, the polyhalite is observed between the upper and lower layers of anhydrite rock within a specified salt bed in the Rustler formation of the Permian Delaware basin. These preliminary results have confirmed the Company's exploration model and methodology.

Sidney Himmel, President and CEO of ICP stated: "While the results are preliminary in respect of this Phase 1 drilling program, the thickness and grade of these two holes further determine the polyhalite bedding and trends on the Ochoa Potash Project. With the completion of drilling and all analytical testing, which is expected by no later than mid-February, we will better define our resource base. The Phase 1 program will include all core analytical testing and initial study of rock mechanics. Planning for the Phase II drill program will commence in January. In addition, we expect to announce further results of the Phase I program during January."

Initial grade, based on X-ray diffraction, is given below for the first two cores. A number of detailed analytical techniques will be applied to the core to confirm the preliminary analytical results. Additional techniques will include Inductively Coupled Plasma Mass Spectrometry, thin section microscopy and Scanning Electron Microprobe (SEM) analysis. Select chip samples from the core were also procured for density measurements.

Preliminary Polyhalite thickness and grade are as follows:

    
    Hole No.              Thickness (depth)             Polyhalite Grade
    ICP-1             6.00 Ft (1394.7- 1400.7)                85.2%
    ICP-2             5.25 Ft (1523.85- 1529.1)               81.2%
    

IPC-1 Polyhalite Cored Interval

    
    -------------------------------------------------------------------------
                   Depth from Surface      XRD Analyses
    -------------------------------------------------------------------------
    sample No.    from (ft)    to (ft)   polyhalite %   anhydrite %  halite %
    -------------------------------------------------------------------------
    569008          1393.0     1393.3          0             25        72
    -------------------------------------------------------------------------
    569009          1393.3     1393.7          0             76        22
    -------------------------------------------------------------------------
    569010          1393.7     1394.2          0             90         6
    -------------------------------------------------------------------------
    569011          1394.7     1395.2   greater than 90       0         0
    -------------------------------------------------------------------------
    569012          1395.2     1395.7   greater than 90       0         0
    -------------------------------------------------------------------------
    569013          1395.7     1396.2   greater than 95       0         0
    -------------------------------------------------------------------------
    569014          1396.2     1396.7   greater than 90       0         0
    -------------------------------------------------------------------------
    569015          1396.7     1397.1         88              0         8
    -------------------------------------------------------------------------
    569016          1397.1     1397.5   greater than 90       0  less than 1
    -------------------------------------------------------------------------
    569017          1397.5     1398.0   greater than 90       0         0
    -------------------------------------------------------------------------
    569018          1398.0     1398.5         80              0        18
    -------------------------------------------------------------------------
    569019          1398.5     1398.7         75              0        22
    -------------------------------------------------------------------------
    569020          1398.7     1399.2         82              0        13
    -------------------------------------------------------------------------
    569021          1399.2     1399.6         90              0  less than 3
    -------------------------------------------------------------------------
    569022          1399.6     1400.1         77             12         0
    -------------------------------------------------------------------------
    569023          1400.1     1400.7         70             18  less than 2
    -------------------------------------------------------------------------
    569024          1400.7     1401.0          7             82         5
    -------------------------------------------------------------------------
    569025          1401.0     1401.5          0             88  less than 2
    -------------------------------------------------------------------------
    

IPC-2 Polyhalite Cored Interval

    
    -------------------------------------------------------------------------
                   Depth from Surface      XRD Analyses
    -------------------------------------------------------------------------
    sample No.    from (ft)    to (ft)  polyhalite %  anhydrite %  halite %
    -------------------------------------------------------------------------
    569033         1522.70    1523.00          0       96        less than 2
    -------------------------------------------------------------------------
    569034         1523.00    1523.40          0       88              10
    -------------------------------------------------------------------------
    569035         1523.40    1523.85          0       94        less than 3
    -------------------------------------------------------------------------
    569036         1523.85    1524.35         30       62               0
    -------------------------------------------------------------------------
    569037         1524.35    1524.70         90        0               0
    -------------------------------------------------------------------------
    569038         1524.70    1525.25         89        0               0
    -------------------------------------------------------------------------
    569039         1525.25    1525.69         95        0               0
    -------------------------------------------------------------------------
    569041         1525.69    1526.13         94        0               0
    -------------------------------------------------------------------------
    569042         1526.13    1526.60         94        0        less than 3
    -------------------------------------------------------------------------
    569043         1526.60    1527.15         85        0              10
    -------------------------------------------------------------------------
    569044         1527.15    1527.74         95        0        less than 3
    -------------------------------------------------------------------------
    569045         1527.74    1528.30         89        0               0
    -------------------------------------------------------------------------
    569047         1528.30    1528.63         92        0        less than 3
    -------------------------------------------------------------------------
    569048         1528.65    1529.10         44       38              17
    -------------------------------------------------------------------------
    569050         1529.10    1529.60    less than 3   62              27
    -------------------------------------------------------------------------
    569051         1529.60    1530.13          0       85               8
    -------------------------------------------------------------------------
    569052         1530.13    1530.53          0       68               6
    -------------------------------------------------------------------------
    569054         1530.53    1531.15          0       68              23
    -------------------------------------------------------------------------
    

All scientific and technical disclosure in this press release has been prepared under the supervision of ICP Chief Geologist, Marc Melker CPG, and has been verified by him. Marc Melker CPG is a Qualified Person within the meaning of National Instrument 43-101.

The Phase I drill program has been designed to: (i) validate interpretations of historical oil and gas geophysical logs; (ii) expand the classification of resources reported in the 43-101 Technical Report; (iii) extend the polyhalite target bed to the north-west where it appears to ramp-up closer to the surface than further to the east; (iv) ascertain chemical and thickness variability; (v) determine optimal locations for Phase II in-fill drilling and prefeasibility studies; (vi) initiate baseline hydrological investigations; and (vii) protect any potable water in the area during drilling and drill hole abandonment. The Company anticipates completing the Phase I drilling program by no later than February 2010. For further information concerning the Ochoa Project, please refer to the technical report dated August 19, 2009 entitled "Polyhalite Resources and a Preliminary Economic Assessment of the Ochoa Project, Lea County, Southeast New Mexico" available on SEDAR at www.sedar.com.

National Instrument 43-101 compliant QA/QC measures are being employed in the field and laboratories to ensure defensibility of the data through a validation process using blanks, standards and replicates. Core splits are carefully preserved against moisture degradation and placed in secure, temperature controlled storage area to enable any future confirmation audits of the core. Reference samples are collected and photographed of all rock units encountered during drilling for future observations. Select chip samples from core are procured for density measurements and thin section microscopy and Scanning Electron Microprobe (SEM) validation.

About Intercontinental Potash Corp

ICP is developing its Ochoa New Mexico property with the primary purpose of using polyhalite as feedstock to produce Sulphate of Potash. Sulphate of Potash, "SOP" or Potassium Sulphate, is premium priced potash. The market for SOP is approximately 4 million tonnes per year. SOP is used as a significant alternative fertilizer to sylvite (Muriate of Potash or MOP) for agricultural products such as fruits, vegetables, tobacco, potatoes, and horticultural plants. SOP has low "salinity" compared to MOP, and therefore is also used in various saline soils in the world, which are found for example in China, India, the Mediterranean, and the United States. Polyhalite may also be developed as a slow release multi-nutrient fertilizer which contains the plant macronutrients Potassium, Sulphate, Magnesium and Calcium.

ICP's Ochoa property consists of federal sub-surface potassium permits granted by the Bureau of Land Management ("BLM") covering more than 36,500 acres of land. All reclamation plans, environmental plans, and archeological work have been approved by BLM. The Company is currently conducting a Phase I drill program, which commenced in November, described in the press release of Trigon Uranium Corp., December 8, 2009, and which is available at www.intercontinentalpoash.com . ICP carries out all activities through its wholly owned subsidiary, Intercontinental Potash Corp.

Forward-Looking Statements

Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of ICP, including, but not limited to, risks associated with mineral exploration and mining activities, the impact of general economic conditions, industry conditions, dependence upon regulatory approvals, and the uncertainty of obtaining additional financing. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.

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.

SOURCE IC Potash Corp.

For further information: For further information: please visit www.trigonuraniumcorp.com or www.intercontinentalpotash.com or contact: Intercontinental Potash Corp Sidney Himmel, President and Chief Executive Officer, (416) 624-3781, shimmel@intercontinentalpotash.com; or Investor Relations, Joanna Longo, Vice President, The Equicom Group, (416) 815-0700 ext. 233, jlongo@equicomgroup.com

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