SASKATOON, Jan. 21, 2013 /CNW/ - North Atlantic Potash Inc., (North Atlantic) the Canadian subsidiary of JSC Acron, drilled one exploration well this fall on KP 421, the company's wholly owned potash permit holding near Esterhazy, Saskatchewan ("Stockholm").
Two high-grade potash members were intersected. The Belle Plaine Member yielded 42% KCL over 2.5 metres and the Esterhazy Member yielded 36% KCL over 2.3 metres. The Esterhazy Member is known for its extremely favourable potash characteristics of being high grade, with very low clay content, and of a coarse texture. Although the results were similar to an historic hole 5 km north an accurate definition of the resource potential of this property will require additional seismic surveying and drilling.
"With such extensive property holdings, we are pleased with the progress of our methodical and systematic exploration to evaluate our opportunities," said Arie Zuckerman, President of North Atlantic Potash. "The world will require the equivalent of an additional potash mine a year over the next decade as the global population grows despite the year over year fertilizer market fluctuation. We strongly believe our Saskatchewan potash assets are well positioned to support this critical need."
The Stockholm Property is approximately 25 kilometres west of two producing mines owned and operated by the Mosaic Company near Esterhazy, Saskatchewan.
"The results we received from this drill hole confirmed our expectations about the potential of this particular permit," added David Waugh, CEO of North Atlantic Potash. "Being next door to the largest producing potash mine in Saskatchewan and intersecting strong potash yields, allows North Atlantic to proceed with the further delineation of the property with added confidence."
On January 7, 2013 North Atlantic released a 43-101 compliant Resource Summary Report for their Foam Lake property which confirmed 942 million tonnes in-place at 19% K2O (30% KCL) with 218 million tonnes Indicated and 724 million tonnes Inferred. The report was prepared by the internationally recognized potash geologic firm North Rim Exploration Ltd.
North Atlantic Potash
North Atlantic Potash Inc. is focused on development of potash production in Canada. We currently possess one of the largest potash permitted acreages in the world over the Saskatchewan Potash belt. Our business was established in 2008 with the acquisition of over 2.1 million acres of exploration permits with the goal to develop a potash mine. www.northatlanticpotash.com
Acron is a fast-growing group of interrelated companies and one of the leading global mineral fertilizer producers. Key business segments include ammonia, nitrogen and complex mineral fertilizers, as well as organic and non-organic compounds. The Group includes three major production facilities, its own logistics infrastructure, an international sales network, and is investing in its own raw material base. www.acron.ru/en/
SOURCE North Atlantic Potash Inc.