SASKATOON, June 26, 2014 /CNW/ - The Joint Venture Company which was
recently formed between Acron Group through its Canadian subsidiary and
the Rio Tinto Group to continue evaluation of the development of the
jointly held potash properties in Saskatchewan Canada, held its first
Board of Directors meeting in London, UK today.
As previously released in December 2013 (http://northatlanticpotash.com/release_121313.pdf), Acron announced a world-class potash resource had been delineated on
the joint venture's KP 405 potash permit in southern Saskatchewan. Rio
Tinto's 2013 Annual Report lists the KP 405 property as a Tier 1
discovery with encouraging potash grades and thickness.
"Since cooperation began in 2011, the joint venture parties have worked
diligently on an exploration program within our permitted areas," said
Arie Zuckerman, President of North Atlantic. "The size, quality, and
temperature characteristics of our Albany project in particular,
position it as one of the best potash development opportunities in the
The JV Company holds nine potash permits covering 586,000 acres in the
southern region of the district. The work undertaken has focused on
permit KP 405 (the Albany Project) with the completion of drilling 13
wells, a 3-D seismic survey, and the preparation of a 43-101 Compliant
The Albany Project is a massive, high quality resource, sufficient to
support a world-class potash operation for many generations within
mineral leases secured by the Joint Venture. The Project area contains
an inferred resource of 1.4 billion tonnes within the mining caverns at
an average grade of 31% KCl with a total recoverable amount of 329
million tonnes of KCl. The critically important downhole temperatures
averaged 63 oC ranking it one of the highest in the region. The deposit will be
developed using a solution cavern mining design which compared to a
conventional underground operation normally results in lower capital
requirements per product tonne, faster construction, greater overall
flexibility, and ease of future plant scalability.
The next steps for the project include continuation of the environmental
assessment and the pre-feasibility study.
North Atlantic Potash
North Atlantic Potash Inc. (part of Acron Group) is focused on
development of potash production in Canada. We currently possess one of
the largest potash permitted acreages in the world and the 2nd largest
area over the Saskatchewan Potash belt. Our business was established in
2008 and we currently hold over 1.4 million acres over 20 exploration
permits with the goal to develop a potash mine. www.northatlanticpotash.com
SOURCE: North Atlantic Potash Inc.
For further information:
David Waugh, CEO, North Atlantic Potash