Three drill permits granted to American Potash on key Utah State mineral leases on their Green River Potash and Lithium Project to test for potash, lithium and other brine salts
American Potash Receives Drill Permits for Three Exploratory Wells. (Credit: Jonny Caspari on Unsplash)
American Potash Corp. (CSE:KCL)(OTCQX:APCOF) (“American Potash” or the “Company”) is pleased to announce that it has received permits from the Utah Division of Oil Gas and Mining (UDOGM) to drill exploratory wells on three of its eleven 100% owned potash and lithium state mineral leases which form part of its Green River Potash and Lithium Project, located within the Paradox Basin, Utah.
The permits provide for drilling to depths of up to 9,400 feet, allowing detailed information to be acquired from multiple potash and lithium (brine) horizons encountered in nearby historical oil and gas wells, which included the Shell Quintana Fed 1-1 oil well located less than a half mile east of the Company’s first proposed well. That well intersected 24.3% gamma-log equivalent KCL over 5.9 meters, in addition to numerous brine horizons which were not analyzed for lithium, bromine and boron at the time.
The three proposed wells, referred to as Duma Point (S2), Mineral Springs (S36), and Ten Mile (S16), are spaced widely apart, providing a large area of influence to draw upon for estimating potential potash and lithium resources within this portion of the project area. (See Map)
Anson Resources Ltd.’s Green River Lithium Project, which lies immediately north of American Potash’s project, announced an exploration target of 2.0 billion tons to 2.6 billion tons of brine, grading 100-150 ppm Li, containing 200,000-390,000 tonnes of Li and 2,000-3,000 ppm Br, containing 3.2 to 7 million tonnes of Br.(2) Anson’s Exploration Target is estimated for brines from the combined Mississippian Leadville Formation and the Pennsylvanian Paradox Formation units which also extend throughout American Potash’s project area immediately south of the Anson project area. The Leadville and Paradox Formation brines will be tested in the Company’s initial drill program. Anson has also reported that a Notice of Intent for planned sampling via re-entry of three historical wells located on their project, have been submitted to UDOGM and the BLM for approval.
Jonathan George, President and CEO of the Company, commented, “Securing these drill permits to test for lithium and potash on our state minerals leases is a key milestone on our path to develop the Green River Potash and Lithium Project, particularly given the challenges explorers face trying to obtain permits for drilling on federal lands.” Adding, ”We believe that results from our planned drilling program could reveal a substantial resource for both lithium and potash underlying our project in this part of the Paradox Basin.”
Source: Company Press Release