Passport Potash releases updated resource assessment in Holbrook basin

 Apache Junction-based Passport Potash Inc. announced the release of an updated NI 43-101 mineral resource estimate, for its Holbrook Basin property in eastern Arizona. The report was completed by ERCOSPLAN Ingenieurgesellschaft Geotechnik und Bergbau mbH ("ERCOSPLAN"), a consulting and engineering firm, specialized in the potash and salt industry, headquartered in Erfurt, Germany, according to the company.  [Right, thickness map of potash in Holbrook basin.  Credit, AZGS]

The company announcement said:

The updated resource estimate includes Measured and Indicated Resources and totals 278.3 million tonnes of mineralized material with an average grade of 14.89% (equivalent to a Resource of 41.48 million tonnes of KCl). For the Indicated category, 252.87 million tonnes of mineralized material with an average KCl grade of 14.93% (equivalent to an Indicated Resource of 37.79 million tonnes of KCl) have been estimated. For the Measured category, 25.43 million tonnes of mineralized material with an average KCl grade of 14.5% (equivalent to a Measured Resource of 3.69 million tonnes of KCl) have been estimated.

The inferred resource consists of 673.84 million tonnes with an average KCl grade of 12.96% (equivalent to an Inferred Resource of 87.29 million tonnes of KCl).

The updated resource report covers approximately 37% of Passport's land holdings.

Measured Resource occurs within a radius of 300m of an investigated drill hole, Indicated Resource occurs within a 1000m of an investigated drill hole minus any measured resource in this area, and Inferred Resource occurs within 2000m of an investigated drill hole minus any measured and indicated resource in this area.

A summary of the Measured and Indicated Mineral Resource included in the updated report are presented in Table 1. A summary of the Inferred Mineral Resource included in the updated report is presented in Table 2:

Table 1	Area (km2)	Horizon Thickness (metres)	Average Grade KCl (%)	Mass of Mineralized Material (MMT)	KCl Mass (MMT)
Measured Resource	4.42	3.26	14.50	25.43	3.69
Indicated Resource	45.16	3.18	14.93	252.97	37.79
Totals	49.58		14.89	278.40	41.48
Table 2	Area (km2)	Horizon Thickness (metres)	Average Grade KCl (%)	Mass of Mineralized Material (MMT)	KCl Mass (MMT)
Inferred Resource	132.97	3.02	12.96	673.84	87.29