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Gensource Potash Corp.
Summary
| Project: | Vanguard | |
|---|---|---|
| Deposit: | Vanguard | |
| Location: | Canada | |
| Commodities: | Potash | |
| Date: | 1/23/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 23-1-2017: Gensource Potash Corp. announces an Exploration/Drilling Update report for its Vanguard deposit at the Vanguard project. Drilling results incl. 12.7m @ 36.9% KCl. Gensource Potash Corporation (“Gensource” or the “Company”) (TSX.V: GSP) is pleas | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Louis Fourie (Terra Modelling Services Inc.) | |
| ABSTRACT: | Gensource Potash Corporation (“Gensource” or the “Company”) (TSX.V: GSP) is pleased to advise that it has received assay results from Well #2 of its two-well drilling program on its 100% owned Vanguard project area. The current two well program has been designed to complement and build upon two previous wells drilled on the property in 2012. Mike Ferguson, Gensource’s President & CEO commented: “We are very pleased to report that grades and thicknesses encountered in Well #2 met our expectations. Previous wells drilled in the area (in 2012) showed excellent mineralization and we had hopes that our new wells would compare favourably. In fact, Well #2 does provide evidence of consistency of resource from the earlier wells in both grade and thicknesses of the prairie evaporative members. This validates the potential extraction potential (tonnes of final sellable potash product per square mile) that was used in the Preliminary Economic Assessment (PEA) completed in May 2016, representing cost-efficient drilling and mining using our selective dissolution technique. We are excited to see these results. Now that all the assay data have been received, we will be working towards an updated NI 43-101 Resource Report.” Over 200 samples were selected from the 30+ meters of sylvinite-bearing core, representing all three members of the prairie evaporite formation. The samples were assayed by SRC Geoanalytical Laboratories, an ISO 17025 accredited testing facility in Saskatoon. The resulting assay data have been analyzed by Gensource’s independent geologist from Terra Modelling Services Inc. | |
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