WPX liefert erste Ressourcenschätzung für Milestone, SK. und schließt Ressourcen-Definitionsbohrung ab.

Western Potash Corp. (das „Unternehmen“) (TSX.V: WPX, FSE: AHE) gibt den Erhalt einer mit NI 43-101 konformen Mineralressourcenschätzung für seine Milestone-Liegenschaft im Süden Saskatchewans bekannt.  This initial resource estimate consists of 32 million tonnes of indicated potash resource (contained KCl) plus 230 million tonnes of inferred potash resource.  Die Milestone-Rohstoffschätzung wurde von Agapito Associates Inc. (“AAI”) aus Grand Junction, Colorado, USA erstellt.

AAI besitzt große Erfahrung im Solungs-Bergbau, bei der Ressourcenkennzeichnung und mit der Anfertigung von mit 43-101 konformen technischen Berichten über Kaliressourcen. AAIs Erfahrungen schließen ein: Arbeiten für Intrepid Potash Inc. in den USA, Rio Tinto und Vale auf dem PRC Projekt in Argentinien und für mehrere aussichtsreiche Kaliprojekte in Saskatchewan.

A summary of the Indicated and Inferred Mineral Resource within Crown and Leased Freehold Areas is presented in Table 1 and 2 respectively.

Tabelle 1. Mineralressource innerhalb von „Crown-“ und „Leased-Freehold-Gebieten“*

Flöz

Durchschn. KCl-
Gehalt (%)

In-Situ-
Volumen (Mio. t)

In-Situ-KCl
Volumen (Mio. t)

KCl
Ressource** (Mio. t)

Patience Lake

28,92

345,72

99,99

23,66

Belle Plaine

26,67

135,38

36,10

8,54

Insgesamt

28,37

481,10

136,09

32,21

* Suchradius von 1.6 km; Mio. t = Millionen Tonnen
** Ressource berücksichtigt geologische Anomalien (10 %), Gewinnungsverhältnis (34,6 %) und Sole-, Pflanzen- und Transportverluste (24 %).

Tabelle 2. Abgeleitete Mineralressource innerhalb von „Crown-“ und „Leased-Freehold-Gebieten“*

Kaliflöz

Durchschn. KCl-
Gehalt (%)

In-Situ-
Volumen (Mio. t)

In-Situ-KCl
Volumen (Mio. t)

KCl
Ressource** (Mio. t)**

Patience Lake

28,83

3.090,49

891,06

175,73

Belle Plaine

27,32

1.012,71

276,64

54,56

Insgesamt

28,45

4.103,19

1.167,70

230,29

* Suchradius von 8 km; Mio. t = Millionen Tonnen
** Ressource berücksichtigt geologische Anomalien (25 %), Gewinnungsverhältnis (34,6 %) und Sole-, Pflanzen- und Transportverluste (24 %).

The President of the Company, Patricio Varas was pleased with the resource estimate commenting that: “our board is extremely satisfied with the initial results of the resource calculation, considering that it only reflects the first 4 wells drilled at Milestone.  We anticipate that the resource in the indicated and measured categories will be enhanced by the additional 5 wells that have now been completed. This resource calculation is only the beginning”.  He further commented that “the Company will now fundamentally change from a pure exploration company to one that is poised to begin the development of Saskatchewan’s newest green-field discovered Potash mineral resource in decades.”

In their report, AAI have made estimates of the Indicated and Inferred Mineral Resources based on a Radius of Influence (ROI) similar to that applied by mine operators and peer group explorers working on solution mining properties in the region.  Furthermore, the Indicated and Inferred Mineral Resources were arrived at by discounting the overall calculated tonnage by Loss Factors of 25% and 10% to the Inferred and Indicated Resources respectively, to account for unknown geologic anomalies; the resulting potash quantity was further reduced using an extraction ratio factor of 34,6%, which is the estimated potash available to be extracted for the life of an envisioned operation leaving sufficient material to support cavern stability;  a further 24% was discounted to account for potash liquor remaining in the cavern plus plant and transport losses during production.

For clarity the calculation used to arrive at the Indicated resource is as follows: Indicated Tonnes in situ x 90% (Geological loss) x 34,6% (extraction ratio) x 76% (liquor & infrastructure losses) = Indicated Resource (resulting in a credit of only 24% of the total indicated Tonnes in situ).  Similarly the calculation used to arrive at the Inferred resource is as follows: Inferred Tonnes in situ x 75% (Geological loss) x 34,6% (extraction ratio) x 76% (liquor & infrastructure losses) = Inferred Resource (about 20% of the total inferred Tonnes in situ). 

Abbildung 1. Well Distribution for the Indicated and Inferred Mineral Resource Calculation.

In calculating the initial mineral resource AAI incorporated historical information available from public sources as well as new resource information obtained from exploration conducted by Western Potash between January and August 2009.  Exploration conducted during that time included the purchasing, processing and interpretation of 283,5 line km of historic 2D seismic, and the completion of four exploration wells totaling 7.198 meters completed within the KP 409 permit area.  All four of the wells drilled, spanning some 12,5 kilometers of strike length (Fig 1), penetrated the potash-bearing beds and have sufficient assayed core to allow for the calculation of potash mineralization thickness and grade.

Ongoing Definition Drilling Program

In their report AAI recommends a two phased development program that includes an additional five well drill program on the Milestone Property as well as extensive 2D and 3D seismic surveys in order to prepare an updated NI 43-101compliant report that will upgrade a greater proportion of the inferred category tonnage into the indicated and measured categories

The Company is pleased to report that in anticipation of the favorable Mineral Resource results reported in this release, it has already completed the five wells recommended in the AAI report; as well as, the acquisition, processing and interpretation of 179 line kilometers of 2D seismic.  Initial results for the first two wells in the expanded definition program were reported on December 3rd, 2009 and include a 23,35 m composite intersection of potash mineralization with a weighted average grade of 17,35 wt % K2O across three potash members, and a second well with a 22,25 m composite intersection of potash mineralization with a weighted average grade of 19,89 wt % K2O across three potash members.  Results from the remaining wells will be reported when the analyses are completed.  A map of all the wells completed is included in figure 2.

The Company is also pleased to announce that it has initiated its 3D seismic survey on the property, following the granting of all required permits, approvals and permissions. It is expected that this survey will be completed in the current quarter.

The Company anticipates that it will commence a preliminary economic assessment of the Milestone Project as soon as the current definition phase is completed.  The preliminary economic assessment will aim to conceptualize the viability of a potash mining operation on the Milestone property.  The assessment will place particular focus on quantifying the expected beneficial effects that the higher Potash formation temperatures measured at Milestone may have on reducing the energy requirements of a Potash operation, so as to estimate potential operating cost savings.

The Company believes that the formation temperatures, measured from the potash beds in the Milestone property ranging from 60° C to 65,5° C, represent an important factor for the economics of future mining on the property.  The solubility of potash increases with temperature such that the higher the formation temperature, the higher the yield of potassium chloride in the brine solution to be processed for potash recovery.  A solution mine, accessing a higher formation temperature resource, will produce more potassium chloride in solution than an operation tapping an equivalent resource at lower formation temperatures. The Company views formation temperature as a key parameter in solution mining economics, offering advantages in solution mass-balance and savings in capital, energy and processing costs.

Figure 2: Milestone Property Well Location Map.

Die ca. 500 km² große Milestone-Liegenschaft, die sich zu 100 % im Unternehmensbesitz befindet, liegt ca. 30 km südöstlich der Provinzhauptstadt Regina und südöstlich der Mine Belle Plaine der Mosaic Company. Diese Mine ist einer der größten produzierenden Solungs-Kalibergbaubetriebe der Welt.

Über Western Potash Corp.

Western Potash Corp. ist eine Mineralexplorationsgesellschaft, die sich mit der Bewertung, Exploration und Erschließung von Kalisalz-Liegenschaften im Westen Kanadas beschäftigt. Die Zielsetzungen des Unternehmens sind die Abgrenzung und Entwicklung einer Weltklasse-Kalisalzlagerstätte in einer umweltverträglichen, wirtschaftlichen und sozialverträglichen Weise.

This news release was reviewed by Dr. Michael Hardy P.E., and Douglas Hambley P.E. and P. Geo., of Agapito Associates Inc. Both individuals are Qualified Persons under NI 43-101 Rules and Policies and are the authors of the updated NI 43-101 Technical Report on which this news release is based.

Die gemäß NI 43-101 betriebsintern qualifizierten Personen sind J. Patricio Varas, P.Geo und Dean Pekeski, P.Geo. Beide haben den Inhalt dieser Pressemitteilung überprüft und genehmigt.

IM NAMEN DES BOARD OF DIRECTORS

„J. Patricio Varas“     
J. Patricio Varas
President und CEO

Diese Pressemitteilung enthält zukunftsgerichtete Aussagen zu unseren Absichten und Plänen. Forward looking statements in this news release include that the initial resource estimate consists of 32 million tonnes of indicated potash resource (contained KCl) plus 230 million tonnes of inferred potash resource; that the Western Potash board anticipate that the resource in the indicated and measured categories will be enhanced by the additional 5 wells that have now been completed; that the resource calculation is only the beginning; that the Company will now fundamentally change from a pure exploration company to one that is poised to begin the development of Saskatchewan’s newest greenfield discovered Potash mineral resource in decades; that AAI recommends a two phased development program that includes an additional five well drill program as well as extensive 2D and 3D seismic surveys to prepare an updated NI 43-101 report that will upgrade a greater proportion of the inferred category tonnage into the indicated and measured categories; that results from the remaining wells drilled will be reported when the analyses are completed; it has initiated its 3D seismic survey on the property and that it expects that this survey will be completed in the current quarter; that the Company anticipates that it will commence a preliminary economic assessment of the Project as soon as the current definition phase is completed; that the preliminary economic assessment will aim to conceptualize the viability of a potash mining operation on the property; that the assessment will place particular focus on quantifying the expected beneficial effects that the higher Potash formation temperatures measured may have on reducing the energy requirements of a Potash operation, so as to estimate potential operating cost savings; that the Company believes that the formation temperatures, represent an important factor for the economics of future mining on the property; that the Company views formation temperature as a key parameter in solution mining economics, offering advantages in solution mass-balance and savings in capital, energy and processing costs; that Agapito Associates Inc. of Golden, Colorado has also been engaged to complete an NI-43-101 compliant indicated and inferred resource calculation based on the results of the expanded definition drill and seismic program; It is the Company’s policy not to update forward looking statements. Verschiedene Faktoren können dazu führen, dass unsere Pläne entweder nicht durchführbar oder nur mit Verzögerung durchführbar sind. Dazu zählen unter anderem die Verfügbarkeit von Vertragspartnern und deren Leistung, Witterungsverhältnisse, Zugänglichkeit des Standorts, Rohstoffpreise sowie Erfolg und Misserfolg der Explorations- und Erschließungsaktivitäten in verschiedenen Stadien des Programms.  Lesern dieser Meldung wird empfohlen, sich über die Risikofaktoren zu informieren, von denen Junior-Explorationsunternehmen beeinflusst werden können, um ein allgemeines Verständnis für die verschiedenen Risiken zu entwickeln, denen das Unternehmen ausgesetzt ist.  

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