Gensource Potash completes drilling programme in Vanguard One Project

10 January 2017 (Last Updated January 10th, 2017 18:30)

Gensource Potash has reported the successful completion of a two-well exploration drilling programme at its fully owned Vanguard project area in Saskatchewan, Canada.

Gensource Potash has reported the successful completion of two well exploration drilling programmes at its fully owned Vanguard project area in Saskatchewan, Canada.

The programme will help the company determine resource extent, grade and finally allow it to update and issue revised NI 43-101 report.

Gensource president and CEO Mike Ferguson said: “It is a significant milestone for Gensource to successfully complete our exploration drilling programme, and retrieve the full core from the Prairie Evaporite from both drilling locations.

“We are proud to say that the work was accomplished safely, with no reportable incidents during the programme, and initial observations of the core look very promising.”

Samples procured from the Well #1 are currently being analysed and assessed data will be provided by the company after completion of this analysis.

"It is a significant milestone for Gensource to successfully complete our exploration drilling programme."

From Well #2, a full Prairie Evaporite core of 67m was retrieved and the preliminary investigation suggested that the core is similar to that of first well.

The company stated that all three members of Prairie Evaporite, comprising Patience Lake, Belle Plaine and Esterhazy, are complete and intact with consistent thickness with the adjacent walls.

It also found substantial Sylvinite mineralisation concentrated on the Patience Lake and Belle Plaine Members.

In the second well, around 67m of 3.5in diameter core was cut and retrieved from the Prairie Evaporite Formation. From this 67m, the three potash bearing members aggregated nearly 40m.

The Well #2 carried a vertical depth of 1,559m.

Based in Saskatoon of Saskatchewan, Gensource is focused on developing the next potash production facility in the province.

The company has assembled a new technical and management team for this potash development.