Sennen Potash - Summary of Results of Ni 43-101 Technical Report
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 07/29/15 -- Mr. Ian Rozier, President and CEO of Sennen Potash Corporation (TSX VENTURE: SN) ("Sennen" or the "Company") is pleased to provide a summary of the results of the National Instrument ("NI") 43-101 Technical Report (the "Report") on its Monument Potash Project in Utah, USA. Sennen commissioned North Rim Exploration Ltd. ("North Rim") to complete a Mineral Resource Estimate as part of the Report. The Report was prepared by Ms. Tabetha Stirrett, P.Geo, and Ms. Debbie Shewfelt, M.Sc., P.Geo, of North Rim.
In a news release dated January 15, 2015, Sennen reported initial results from its Johnson 1 Well (the "Johnson Well"). The highlights were as follows:
These initial results have been refined by further technical analyses and by the Mineral Resource Estimate.
Mineral Resource Estimate
The Mineral Resource Estimate was prepared by Ms. Tabetha Stirrett, P.Geo, who was the Qualified Person ("QP") for the Report. The Saskatchewan Research Council Geoanalytical Laboratory was used for geotechnical analyses and analytical quality control and assurance. Roger Edgecombe and Adam Flynn of RPS provided consulting services for the 2D seismic interpretations for input into calculating the Mineral Resource.
The Inferred Resources are reported for the Upper and Lower Potash Beds of Cycle 18 for the Johnson Well, and a Potential Quantity Tonnage is reported for the Upper Potash Bed of Cycle 18 based on correlation with historical well log data from the Western Natural Gas 1 Well.
The complete resource summary is provided in Table 1 entitled Sennen Potash Resource Summary Table. Areas used in the Mineral Resource Estimate are illustrated in the Report which will be filed on SEDAR ().
The Monument Project currently has a defined Mineral Resource of:
In addition to the Inferred Mineral Resource, there is a Potential Quantity Tonnage of between: 72.1-108.2 MMt, grading between 5.0-17.0% K20 (7.9-26.9% KCl). The Report notes that the Potential Quantity and grade are conceptual in nature and there has been insufficient exploration to define a mineral resource at this time.
The parameters and deductions included in the Mineral Resource Estimate are listed in detail as footnotes to the Resource Summary (Table 1). The main parameters used in the determinations are as follows:
To view the table associated with this press release, please visit the following link:
Report Conclusions
The following is a summary of conclusions pertaining to the geology, mineral resource, infrastructure, and data quality;
Recommendations
The following recommendations are made by North Rim:
Mining Potential
For the purpose of the Report, the Mineral Resource is based on the assumption that the recovery of potash would be by Solution mining methods. No Preliminary Economic Assessment or Scoping Study has been conducted. However, the Company will proceed with further technical work on the basis that with such a thick potash bed (7-10m), high-grade (approx. 43% KCl), and high down-hole temperatures (68 degrees C), the Cycle 18 Potash Bed appears to be ideally suited to Solution mining methods. More details on Solution mining methods and their potential application at the Monument Project are provided in a Corporate Presentation available on the Company's website ().
Qualified Persons
The disclosure of technical and scientific information in this news release has been approved by Tabetha A. Stirrett, P. Geo., of North Rim Exploration. Tabetha Stirrett is a Professional Geologist registered in the province of Saskatchewan, as well as professionally registered with American Institute of Professional Geologists (AIPG) and is a Qualified Person as defined by NI 43-101.
About Sennen
Sennen currently owns a 70% interest in the exploration and development stage Monument Potash Project. Monument is comprised of over 106,000 net mineral acres of contiguous mineral leases in south-east Utah and south-west Colorado and is located less than 70 miles from Intrepid Potash Corp.'s operating Cane Creek Solution Mine.
Neither the TSX Venture Exchange (the "TSXV") nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) has reviewed, nor do they accept responsibility for the adequacy or accuracy of, this release.
Caution concerning forward-looking information
This news 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 Sennen 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 Sennen'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 Sennen with Canadian securities regulatory authorities and available at . Sennen disclaims any obligation to update or revise any forward-looking information or statements except as may be required.
Contacts:
Sennen Potash Corporation
Ian Rozier
Chief Executive Officer
604-685-6851
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Datum: 29.07.2015 - 19:18 Uhr
Sprache: Deutsch
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Mining & Metals
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