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Atlas Salt Provides Comprehensive Development Update on Great Atlantic Salt Project
ST. JOHN'S, NL / ACCESS Newswire / March 28, 2025 / Atlas Salt Inc. ("Atlas Salt" or the "Comp...
About this update from Atlas Salt Inc
[{"type":"text","content":"Atlas Salt Provides Comprehensive Development Update on Great Atlantic Salt ProjectST. JOHN'S, NL / ACCESS Newswire / March 28, 2025 / Atlas Salt Inc. (\"Atlas Salt\" or the \"Company\") (TSXV:SALT)(OTCQB:REMRF) is pleased to provide an update on key workstreams advancing the Great Atlantic Salt Project (the \"Project\"). Building on the Company's momentum, Atlas Salt is making meaningful progress on multiple fronts, including its geotechnical and hydrogeological drilling program, project execution planning, ongoing permitting efforts, and progress related to project financing.Project Financing with EndeavourFinancing Discussions Progressing: Atlas Salt continues to hold regular, productive discussions with Endeavour Financial and interested financiers as part of establishing a robust financial structure for the Project.Comprehensive Strategy: The Company is assessing a balanced approach of both debt and equity to best position the Project for accelerated development and to reduce overall risk.Engineering & Mine Plan UpdatesLead Engineering and Material Handling Partner: The procurement team is in the final stages of selecting both the Lead Engineering Partner and Material Handling Equipment Partner, with decisions expected by the end of April 2025.Mine Plan Revisions: Deswik Consulting is adjusting the mine plan to align with the selection of Sandvik as the preferred mining equipment partner. This ensures operational efficiencies and a more streamlined path to production.Geotechnical & Hydrogeological Drilling ProgramEarthworks Completed: All drill site access and site preparation associated with the drill program are completed.93% Drilling Completion: The geotechnical and hydrogeological drilling program has completed 2,275 m to date, with the final drillhole completion anticipated by early April 2025.Data Analysis Underway: Core sampling, technical evaluations, and reporting are underway to inform final decline design and development strategies.Project Governance & Execution PlanningCornerstone Governance Documents: Atlas Salt has completed its Project Governance Framework and Integrated Project Delivery Framework, establishing a clear foundation for decision-making and project execution.Detailed Execution Plan: Pursuant to these frameworks, the Company in conjunction with engineering firm, Hatch Ltd. is advancing...