FULL DISCLOSURE: This is sponsored content for American Potash.
American Potash Corp (CSE: KCL) has obtained approvals for its plan of operations from the US Department of the Interior’s Bureau of Land Management.
The approvals, which pertain to 25,480 acres of land claims, include the issuance of eleven prospecting permits and the authorization of four exploratory drill holes across the property. The permits include federal potash exploration permits, as well as BLM placer claims that cover lithium rights and state leases for the whole of its Green River Project in the Paradox Basin of Utah.
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Cumulatively, American Potash has obtained approvals for seven exploratory drill holes at Green River, with drilling to focus on validating the high grade potash potential of the project, as well as the continuity of lithium brine formations and large lithium resources. Green River currently has an exploration target ranging from 600 million to 1 billion tonnes of sylvinite, averaging grades between 19% to 29% KCL, while the property is also prospective for lithium due to discoveries by Anson Resources to the north and south.
The Paradox Basin is said to be one of eight designated potash super basins globally, while more recent development work has earmarked the basin as one of the largest domestic sources of lithium in the United States. American Potash intends to establish an initial resource for both minerals, as well as potential by-products.
“This is a huge step for the Company and the culmination of a process lasting several years. It positions the Company to be able to drive forward with its business plan to confirm and validate historic data and targets, and to leverage the benefit of nearby production and neighboring development work, through the drill-bit,” commented American Potash CEO Simon Clarke.
American Potash last traded at $0.10 on the CSE.
FULL DISCLOSURE: American Potash is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of American Potash. The author has been compensated to cover American Potash on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. We may buy or sell securities in the company at any time. Always do additional research and consult a professional before purchasing a security.
