Atlas Salt Hits Aggregate 305.5 Metres Of 95.6% Sodium Chloride
Atlas Salt (TSXV: SALT) continues to see success in the exploration of its Great Atlantic property in Western Newfoundland. Further drilling has seen the company intersect large intervals of sodium chloride to the east of previous drilling.
Hole CC-9b, which was drilled 250 metres to the east of hole CC-4 is reported to have intersected 305.5 metres of 95.6% sodium chloride in aggregate, with mineralization beginning at a depth of 240 metres.
Highlights from the results include:
- 168 metres of 95.28% sodium chloride from a depth of 240 metres
- 46 metres of 95.74% sodium chloride from 426 metres
- 10 metres of 95.36% sodium chloride from 483 metres
- 81.5 metres of 95.87% sodium chloride from 494.5 metres
The intersection of sodium chloride are said to be interspersed with zones of salty mudstone. Intervals are said to be “closely approximate true width,” with the deposit itself being flat lying to gently dipping.
“After 30 years in the salt business I can state unequivocally that drill hole CC-9b is truly extraordinary in terms of its shallowness, thickness, and grade profile, underscoring how Great Atlantic is the premier undeveloped salt project in North America. We have yet to find the limits of this massive homogeneous deposit blessed with highly favorable logistics next to a deep sea port on the west coast of Newfoundland,” commented CEO Rowland Howe.
The results from the hole are slated to be included in an upcoming feasibility study to be conducted by the firm, although they are not included in the current resource estimate for the project due to timing of the effective date of the technical report, which was released earlier this month.
READ: Atlas Salt Reports Post-Tax Net Present Value Of Great Atlantic Project Of $482 Million
The Great Atlantic deposit is currently estimated to hold 187 million tonnes of 96.4% sodium chloride on an indicated basis, and an additional 999 million tonnes of 95.6% sodium chloride on an inferred basis.
Atlas Salt last traded at $1.13 on the TSX Venture.
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