Business
Encanto Potash Announces Successful Outcome of Ochapowace Sub-Surface Designation Vote
TRADING SYMBOL:  TSXV:EPO VANCOUVER, June 7, 2012 /CNW/ - Encanto Potash Corp. (...
About this update from Encanto Potash Corp.
[{"type":"text","content":"\n\n\n\n\n\nTRADING SYMBOL:  TSXV:EPO\n\n\nVANCOUVER, June 7, 2012 /CNW/ - Encanto Potash Corp. (\"Encanto\" or the\n \"Company\") (TSXV: EPO or OTCQX: ENCTF) announces that it has received\n the results of a successful and final Mineral Rights sub-surface\n Designation vote which occurred Thursday May 31, 2012. This vote was in\n regard to the designation of Potash and other minerals for Home\n Reserve, TLE reserve and pre-reserve Ochapowace lands.\n\n\nThe Company has been formally notified by the Ochapowace Chief and\n Council that the final voting results, as tabulated by Aboriginal\n Affairs and Northern Development Canada (\"AANDC\") greatly exceeded the\n 50% plus one voting requirement to successfully pass.\n\n\n\"We're extremely pleased to see an overwhelming 88% voter support for\n the sub-surface mineral designation process on what we consider our\n second flagship property\" stated Encanto President and CEO Jim\n Walchuck.  \"We now intend to drill a test hole to check the potash\n grade and then follow up with a drilling and 3D seismic program in\n order to develop  a significant NI 43-101 compliant resource estimate\n on this second flagship property.\"\n\n\nApproximately 50,000 acres of the designated lands are governed under\n existing Mineral Exploration Agreements and Exploration Permits from\n Indian and Northern Affairs Canada and Exploration Participation\n Agreements with the First Nation. The process of continued land\n acquisition and permitting has the ability to further add to the total\n acreage.\n\n\nEncanto further confirms that they recently arranged for an analyst tour\n of the Muskowekwan First Nation property and the proposed mine\n processing site that was hosted by Chief Reginald Bellerose and members\n of his Council. Analysts, Fund Managers and investment banking\n representatives were among the attendees. Photos of this tour are\n available at the Company website at www.encantopotash.com.\n\n\nJim Walchuck commented \"We're very pleased at the level of interest that\n we are attracting from institutional investors and analysts from across\n North America. We're confident of receiving increased research coverage\n which will help broaden our base of investors and raise the profile of\n our project as we move closer to production.\"\n\n\nEncanto continues to meet with analysts a...