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IC Potash Corp.
Summary
| Project: | Ochoa | |
|---|---|---|
| Deposit: | Ochoa | |
| Location: | United States | |
| Commodities: | Polyhalite | |
| Date: | 11/9/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | PEA | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 9-11-2016: IC Potash Corp. announces a PEA report for its Ochoa deposit at the Ochoa project. PEA results incl. post-tax NPV (8%) of $1197M, IRR of 28%. TORONTO--(BUSINESS WIRE)--November 9, 2016--IC Potash Corp. (TSX: ICP; OTCQX: ICPTF) (“IC Potash” or | |
| Resources: | (Resource, M+Ind): 330Mt @ 89.3wt% polyhalite | |
| CP/QP: | [Resources]: Jerry DeWolfe (Golder Associates) | |
| ABSTRACT: | TORONTO--(BUSINESS WIRE)--November 9, 2016--IC Potash Corp. (TSX: ICP; OTCQX: ICPTF) (“IC Potash” or the “Company”) is pleased to announce that the results of an independent Canadian National Instrument 43-101 compliant (NI 43-101) Preliminary Economic Assessment (PEA) for its Ochoa Polyhalite Project (the Project) located in Eddy and Lea counties, New Mexico, USA have been received. Golder Associates Inc. (Golder) compiled the PEA in its entirety with reliance on other experts for the following: CRU Strategies – Market Studies and commodity pricing, INTERA Geoscience and Engineering Solutions – Permitting and Environmental, and Upstream Resources – Product Development. The PEA is preliminary in nature and includes Inferred Mineral Resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as Mineral Reserves, and there is no certainty that the PEA will be realized. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. The Mineral Resource estimates presented in the PEA supersede the Mineral Resource estimate for the Project presented in the 2014 Feasibility Study titled Technical Report Ochoa Project Feasibility Study, Lea County, New Mexico, USA dated March 7, 2014 compiled by Agapito Associates, Inc. and SNCLavalin. “The PEA and our new polyhalite strategy represents the important de-risking phase for the Ochoa project. This body of work and all recent positive developments for the Ochoa project enables ICP to focus on a more aggressive path for project finance and continue our work with various industry groups. We are very excited about the results of the PEA and look forward to taking the Ochoa project to the next stage of project development,” commented Mehdi Azodi, President and CEO. The Company is progressing the Project in the short-term through a Feasibility Study currently being compiled by Cementation USA that has an expected completion date of the end of February 2017. The Feasibility Study is intended to improve the confidence in capital and operating estimates, product pricing and marketing plans, product agronomic characteristics and ensure that all necessary permitting requirements are met. The full PEA report will be filed on SEDAR within 45 days of this release. | |
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