Business
Karnalyte Resources Inc. receives Water Rights License and approval to operate Ground Water Works
CALGARY , Dec. 12, 2013 /CNW/ - Karnalyte Resources Inc. ("Karnalyte" or the "Corporatio...
About this update from Karnalyte Resources Inc.
[{"type":"text","content":"\n\n\nCALGARY, Dec. 12, 2013 /CNW/ - Karnalyte Resources Inc. (\"Karnalyte\" or\n the \"Corporation\") (TSX: KRN) today announced that it has received the\n Water Rights Licence to Use Ground Water (\"WRL\") and Approval to\n Operate Works (\"ATO\") for the Wynyard Carnallite Project's (the\n \"Project\") source water well from the Saskatchewan Water Security\n Agency. The WRL grants the Corporation the right to withdraw brackish\n ground water from the Blairmore formation to support the Project.\n\n\n\"Karnalyte successfully tested a full production-capacity disposal well\n and a production-size source water well earlier this year,\n demonstrating sufficient source water deliverability for the\n first-phase production facility,\" said Robin Phinney, President and CEO\n of Karnalyte. \"Receipt of the WRL and ATO support an acceptable\n environmental footprint.\"\n\n\nKarnalyte continues to monitor the capital markets for opportunities to\n access capital to support the construction of the first phase of the\n Project.\n\n\nAbout Karnalyte Resources Inc.\n\n\nKarnalyte is engaged in the business of exploration and development of\n high quality agricultural and industrial potash and magnesium products.\n Karnalyte intends to develop and extract a carnallite - sylvite mineral\n deposit through a known solution mining process at competitive costs\n and with minimal environmental impacts. Using a staged approached to\n potash plant construction, the Corporation plans to operate a solution\n mining facility that will initially produce 625,000 tonnes of potash\n per year, increasing to 2.125 million tonnes of potash per year.\n Karnalyte owns a 100% interest in Subsurface Permit KP 360A and\n Subsurface Mineral Lease KLSA-010 located near Wynyard, Saskatchewan,\n comprising a total of 85,126 acres.\n\n\nForward-Looking Statements\n\n\nThis press release contains forward-looking statements. More\n particularly, this press release contains statements concerning the\n Corporation's future operations and its access to capital markets. The\n forward-looking statements contained in this document are based on\n certain key expectations and assumptions made by Karnalyte, including\n with respect to the Corporation's future operations and its ability to\n secure additional capital. Although Karnalyte believes that the\n expectations and assumpt...