American Potash Corp. Exhibiting at Vancouver Resource Investment Conference to Highlight Green River Potash Project,Paradox Basin,Utah
American Potash Corp. (the Company) (AMP:CSE) is pleased to announce that it will be exhibiting at the upcoming Vancouver Resource Investment Conference on January 18 and 19, 2015 at the Vancouver Conference Centre West.
The Companys senior management team would like to invite current shareholders, potential investors, analysts, brokers and interested parties to visit the CSE Pavilion (booths #1825 to #1837) to discuss the Company’s Green River Potash Project in the renowned Paradox Basin, Utah.
Green River Potash Project
Management has a high level of confidence in the potential of the Green River Potash Project, believing the Project to possess exceptionally compelling attributes that compare favorably with any other pre-development stage potash project around the world.
Key Project Highlights:
- Historic oil and gas drilling has pierced and quantified the grade and thickness of the target Cycle 5 potash horizon;
- Seismic surveys demonstrate non-faulted lateral continuity of the Cycle 5 potash horizon across the breadth of the Project area;
- Resulting in a 600 million to 1 billion tonne Exploration Target* estimated by a respected international engineering firm;
- Numerous strategic location advantages contribute critical and significant potential operational benefits;
- There is an existing low capital and low operational cost longstanding solar evaporation solution mining operation, Intrepid Potashs Moab facility, in the immediate area, mining from the same Cycle 5 horizon that the Company is targeting;
- The Company is fully permitted** to complete an aggressive 18-24 month exploration plan designed to produce a mineral resource estimate and preliminary economic assessment encompassing the extensive Exploration Target;
- The potash market has strengthened with record sales volumes anticipated for 2014 (Fertecon, CRU), increased sales price noted in late 2014, tightening supply*** and lower Inventories (Fertecon, CRU).
Below are some of the numerous strategic location advantages that will provide significant assistance to the potential development of an operation in this area:
- The arid climate with 300 days of sunshine a year supports solar evaporation ponds for mineral concentration and separation; a low capital expenditure, low operating cost method of processing. In addition, the utilization of solution mining teamed with evaporation ponds is a highly scalable operation through the ramp-up period, thus beneficially spreading the low total capital expenditure over a multi-year period;
- The Project area is proximal to the main U.S. agricultural market providing a clear transportation advantage that traditionally translates into a significantly higher realized sales price over more distal and international competition;
- The U.S. is a major global scale importer of potash (i.e. the US imported 85% of their potash requirements) that represents a pronounced imbalance and supply opportunity in a large and consistent local-demand market;
- The Project area hosts excellent infrastructure and access (proximal to townsite, rail, highway, power and water);
- The flat terrain provides ample space for development planning of solar evaporation ponds, plant and operations;
- Solar evaporation solution mining operations have low environmental impact; and
- Solution mining operations utilize simple, straightforward and well known technology.
Following the past period of uncertainty in the potash sector, there now emerges the general consensus of an identified bottom, restored stability, record sales volumes, increased sales price, tightening supply and a positive outlook. This situation provides a potential rare opportunity for investors willing to take advantage of a previously highly depressed market now expressing tangible indications of a rebound.
Over the next 18-24 months, American Potash is planning one of the most exciting periods for a company, which is the delineation drill program towards an initial mineral resource estimate. In addition, there are very few potash companies entering a similar accretionary stage in their valuation thereby uniquely positioning American Potash Corp. as a potential standout in the field.
For additional details regarding the Company and the Green River Potash Project please visit the Companys website at www.americanpotashcorp.com.
* Refer to the Companys technical report entitled, NI 43-101 Technical Report on the Green River Potash Project, Grand County, Utah, USA, dated October 10, 2012 with an effective date of June 27, 2012, filed on SEDAR that classifies the potash Cycle 5 horizon as a NI 43-101 exploration target. It should be noted that Exploration Targets are conceptual in nature and there has been insufficient exploration to define them as Mineral Resources, and, while reasonable potential may exist, it is uncertain whether further exploration will result in the determination of a Mineral Resource under NI 43-101. The Exploration Target stated in the Report is not being reported as part of any Mineral Resource or Mineral Reserve.
The Report was prepared by Vanessa Santos, Chief Geologist with Agapito Associates Inc. and a Licensed Professional Geologist in the State of South Carolina and Georgia, and Leo J. Gilbride, Vice President with Agapito Associates Inc. and a licensed Professional Engineer in the State of Colorado, each of which are Registered Members of the Society for Mining, Metallurgy, and Exploration and qualified persons as defined by and independent of the Company for the purposes of National Instrument 43-101; and have reviewed the related scientific and technical information presented in this press release.
The prefix e in eKCl indicates that the grade was estimated utilizing the response from the gamma ray log surveys and was not measured from chemical analysis of the core.
** The U.S. Bureau of Land Management granted to the Company 14 Federal Potash Prospecting Permits (Permits), effective as of March 01, 2014, that enables the Company to initiate and complete an approved Exploration Plan consisting of four drill holes on Federal land and four drill holes on Utah State land in order to satisfactorily characterize and quantify the Cycle 5 potash horizon underlying most to all of approximately 35, 000 acres (14, 150 hectares) of the northern portion of the Project area in preparation of applying for preferential mining leases.
*** Recent reduction in potash supply: Mosaic announced the closure of its Muriate of Potash Carlsbad Mine in New Mexico for December 2014 and Uralkalis Solikamsk-2 Mine in Russias Perm region ceased operation on November, 18, 2014 due to a brine inflow event.
About the Company
American Potash Corp. is dedicated to the acquisition and development of potash mineral deposits in the USA and elsewhere. The Company, through a wholly owned subsidiary, American Potash LLC, a Nevada limited liability corporation, holds certain State potash leases and approval of certain federal potash prospecting permits in the State of Utah that constitute the Green River Potash Project, host to a significant potash Exploration Target.
On behalf of the Board of Directors
Mike Sieb, President
THE CSE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITYFOR THE ACCURACY OR ADEQUACY OF THIS RELEASE.
This news release includes certain statements that may be deemed forward-looking statements. The use of any of the words anticipate, continue, estimate, expect, may, will, would, project, should, believe and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this news release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Companys disclosure documents which can be found under the Companys profile on www.sedar.com.