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Gensource Potash Corp.
Summary
| Project: | Vanguard | |
|---|---|---|
| Deposit: | Vanguard | |
| Location: | Canada | |
| Commodities: | Potash | |
| Date: | 3/15/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 15-3-2017: Gensource Potash Corp. announces a Resource Estimation report for its Vanguard deposit at the Vanguard project. Vanguard Mineral Resource Estimate Upgraded to Indicated. Gensource Potash Corporation (GPC hereafter) acquired 2 potash exploration | |
| Resources: | (Resource): 144.94Mt KCl @ 40% recovery (Ind.) and 329.73Mt KCl @ 40% recovery (Inf.) at project | |
| CP/QP: | [Resources]: Louis Fourie (Terra Modelling Services Inc.) | |
| ABSTRACT: | Gensource Potash Corporation (GPC hereafter) acquired 2 potash exploration permits (KP 363 and KP 483) from Yancoal Canada Resources Co. Ltd. (hereafter Yancoal), near the Villages of Tugaske and Eyebrow, 38 km southwest of Craik, Saskatchewan (see Figure 1 for a locality map). Yancoal had drilled 2 potash exploration wells on KP 483, and completed 2-D seismic surveys on both dispositions, but had decided at that point to sell the dispositions to GPC. GPC engaged Terra Modelling Services Inc. and its principal, Louis Fourie P.Geo., Pri. Sci. Nat. (hereafter the Qualified Person or QP) to produce this Technical Report on the drilling and the results thereof, including the changes to the classification and extent of the Resource. The Mineral Resource referred to in this report is based on historic drilling (the work previously completed by Yancoal in 2012) and the new wells completed by GPC. The cutoff date for this study is thus the end of the most recent drilling program and associated work, 1 February 2017. Furthermore, the Resource Estimate is based on the assumption that the recovery of the potash will be achieved by means of horizontal cavern selective solution mining methods, similar to those employed by Intrepid Potash Inc. at their Moab Mine, near Moab, Utah. Further details as to this approach has been elucidated in the Preliminary Economic Assessment published in 2016. | |
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