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Drilling Now Underway Targeting Open-Pit Resources at Ethiopian Potash Corp's Danakil Development Project
Drilling Now Underway Targeting Open-Pit Resources at Ethiopian Potash Corp's Danakil Development Project.
About this update from Agriminco Corp
[{"type":"text","content":"Drilling Now Underway Targeting Open-Pit Resources at Ethiopian Potash Corp's Danakil Development ProjectToronto, Ontario – (June 8, 2011) - Ethiopian Potash Corp. (the “Company” or “EPC”) (TSX Venture: FED and FED.wt) is pleased to announce that a 50 person field camp has now been completed and two drills are turning on the Company's Danakil concession as EPC begins its 15,000 meter drilling program, slated to confirm the existing resources in the south-west corner of the Company's property, and then expand and upgrade the historical resource in the Colluli area on the east side of the property.In both areas, EPC will focus on its previously established shallow mineralization targeting potash horizons potentially amenable to open-pit mining scenarios.Mr. Wahl, President and CEO stated “I am very excited that drilling has commenced, and we anticipate making good time in our development program and assay turnaround, with the help of personnel all of whom have previous drilling experience the Danakil basin.\"\"Results of this initial program will confirm management’s enthusiasm about the ability to move EPC's licenses quickly through resource development and economic evaluation milestones.\"The objective of this initial drill program is to confirm, expand, and upgrade the 43- 101 inferred resource of 128 mil tonnes grading 21% outlined by ERCOSPLAN. The drill program is designed to increase the inferred resources and upgrade the resources in the core area to indicated and measured resources. This will provide the basis for a new 43-101 resource estimation and economic studies commencing in early Q4 of this year.Now that drilling has been initialized the Company expects to be in a position to issue regular updates to its shareholders on the status of the on-going drilling. Assay results can be expected in early July.On the Company website investors will shortly find recent pictures from the site, as well as the initial proposed drill hole location maps on the first work to be completed.Mr. Wahl is the Qualified Person as defined by NI 43-101 and is responsible for the content of this release. In preparing this release Mr. Wahl was assisted by Mr. Bruce Cumming, COO of the Company and the person responsible for the project. This release has also been reviewed and approved by the Company̵...