Western Potash Corp. (the "Company") (TSX.V: WPX, FSE: AHE) is pleased to announce that it has initiated a resource definition drill program consisting of 5 wells in the area surrounding the Milestone-003 well which intersected a composite thickness of 24.4m of potash mineralization with a grade of 18.2% wt K2O, as reported in a press release dated August 24, 2009. The Company's wholly-owned Milestone property, comprising 500 square km in area, is located approximately 30 km southeast of Regina, and is southeast of Mosaic's Belle Plaine Mine, one of the largest producing potash solution mines in the world.
The Company's board has approved an $8.5 million CAD budget for this program and is expecting to produce an NI-43-101 compliant inferred resource calculation during Q4 2009. The Company will also complete an NI-43-101 compliant indicated and inferred resource calculation based on the results of the expanded 5 well resource definition drill program, 2D seismic, and 3D seismic surveys. This report is expected to be complete during early 2010, dependant on the completion and results of the aforementioned drilling and seismic surveys.
The Company also reports the completion of the first well in the current resource definition program. The Milestone-004 well is the fifth well drilled on the Milestone property and is located approximately 3.0 km to the south of the Milestone-003 well which reported a composite thickness of 24.4m of potash mineralization with a grade of 18.2% wt K2O.
Coring of the Milestone - 004 well has intersected the Prairie Evaporite Formation at a vertical depth of 1.727,6 m. Visual geological evaluation of the core in conjunction with down-hole gamma ray logs indicate strong potash grades, very low carnallite content, and very promising minimum formation temperatures of 60° C within the two upper members, with some carnallite present in the Esterhazy member. The following potash member thicknesses are indicated by the down-hole gamma ray logs:
|Formationsglied||von (m)||bis (m)||Thickness (m)|
All drill intercepts noted in this release are considered the true thickness of the mineralization; as the salt beds are relatively flat-lying and down-hole directional surveys indicate the hole was essentially vertical upon intersecting the salt and potash sequences.
The Company sees the presence, thicknesses and indicated grade of the potash beds in this fifth well as a significant result when taken in conjunction with the results reported for the first four wells. The Company feels that the thicknesses and grades obtained by geochemical sampling and down hole gamma ray logging are consistent with those mined at the Belle Plaine solution mine and that it has now demonstrated regional continuity of all three potash members, over 15.5km of strike length, between the first and fifth wells.
A 2D seismic survey is being carried out over this priority area in conjunction with the current drill program. The Company plans to also complete a 3D seismic survey over this priority area to be used with the NI-43-101 compliant resource calculation.
The Company is also pleased to announce that it has engaged Agapito and Associates Inc. of Golden, Colorado to complete an NI43-101 compliant inferred resource calculation and report based on the results of the initial four well drill program. This report is expected to be completed during the fourth quarter of 2009. Agapito and Associates will also complete an NI-43-101 compliant indicated and inferred resource calculation based on the results of the expanded 5 well resource definition drill program, 2D seismic, and 3D seismic surveys. This report is expected to be completed during early 2010, dependant on completion of the aforementioned drilling and seismic surveys.
Further to the Company's news release of September 25, 2009, the Company would like to announce that it has received approval from the TSX Venture Exchange to extend 44,739,000 warrants at a price of $0.75. The expiry date has been extended from October 15, 2009 to April 15, 2011.
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.
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.
For more information on Western Potash Corp.'s projects, please visit the Company's
website at: www.westernpotash.com
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 Company has initiated a resource definition drill program consisting of 5 wells surrounding the Milestone-003 well; that the Company has approved an $8,5 Million CAD budget for the program and is expecting to produce an NI 43-101 inferred resource during Q4, 2009; that the company will complete an NI 43-101 indicated and inferred resource based on the expanded 5 well program during early 2010; that visual geological evaluation of the core with down-hole gamma ray logs indicate strong potash grades, low carnallite content and promising formation temperatures of 60° C; the Company feels that the thicknesses and grades obtained and down hole gamma ray logging are consistent with those mined at the Belle Plaine Solution mine; that it has demonstrated regional continuity of all three potash members, over 15,5 km of strike length, between the first and fifth wells; that the Company is carrying out a 2D seismic survey; that it plans to also complete a 3D seismic survey to be used with the NI 43-101 resource calculation; that it has engaged Agapito and Associates Inc. to complete an NI 43-101 resource based on the initial four wells and is expected to be completed in Q4; that Agapito and Associates will also complete an NI 43-101 indicated and inferred resource calculation during early 2010. 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.
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.