Passport Potash released their updated Resource Report for the Holbrook Basin Potash Project, Arizona today, which meets the Canadian NI-43-101 requirement. The report was prepared by the German firm ERCOSPLAN Geotechnik und Bergbau, a leader in potash analysis. [Right, Passport's land holdings in the Holbrook basin. Excerpted from the resource report]According to Passport's news release the combined measured and indicated mineral resources total 397.94 million tonnes of mineralized material with an average KCI grade of 14.65%.
As quoted in the news release:
The mineral resource estimate of the combined properties includes measured and indicated mineral resources totaling 397.94 million tonnes of mineralized material with an average grade of 14.65% (equivalent to 58.35 million tonnes of KCl). For the indicated category of the combined properties, 363.17 million tonnes of mineralized material with an average KCl grade of 14.68% (equivalent to an indicated mineral resource of 53.35 million tonnes of KCl) have been estimated. For the measured category of the combined properties, 34.77 million tonnes of mineralized material with an average KCl grade of 14.38% (equivalent to a measured mineral resource of 5.00 million tonnes of KCl) have been estimated. Potash mineralization consists of sylvinite and carnallite. The inferred mineral resource of the combined properties consists of 790.73 million tonnes with an average KCl grade of 12.99% (equivalent to an inferred mineral resource of 102.74 million tonnes of KCl).Passport Potash President and CEO, Joshua Bleak said,"Our project has never been in as strong a position as it is today, and we are confident that the PEA that will be released within the next two weeks will make it even stronger."
The report recommends additional exploration drilling locations to evaluate additional potential resources.
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