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Lions Bay: Consolidated Potash Corporation Establishes Joint Venture with Verdant Minerals
Vancouver, British Columbia--(Newsfile Corp. - February 7, 2019) - Lions Bay Capital Inc. (TSX...
About this update from Lions Bay Capital, Inc.
[{"type":"text","content":"Lions Bay: Consolidated Potash Corporation Establishes Joint Venture with Verdant MineralsVancouver, British Columbia--(Newsfile Corp. - February 7, 2019) - Lions Bay Capital Inc. (TSXV: LBI) (\"Lions Bay\" or \"the Company\") is pleased to advise that Consolidated Potash Corporation (CPC), an entity controlled and being consolidated by the Company has satisfied requirements to acquire an initial 15% of the Karinga Lakes Sulphate of Potash (SOP) project and establish a JV with Verdant Minerals (ASX: VRM).A full copy of the announcement published on the Australian Securities Exchange (ASX) on 7 February 2019 by CPC's JV partner, Verdant Minerals, is attached for general information purposes only.Whilst substantial resource exploration and appraisal activities have been performed at the Karinga Lakes Potash Project by Verdant Minerals, it should be noted that the Resource Statement outlined in the attached Media Release is JORC 2012 compliant; however, the Company cautions readers that this information has not been reviewed by a Qualified Person under National Instrument 43-101, and should therefore be considered a historical resource that is not compliant with National Instrument 43-101.As the Company proceeds with its stated plan of listing CPC, the intention is to perform an updated resource study that is compliant with National Instrument 43-101.In addition to the positive progress made by CPC in relation to the Karinga Lakes Sulphate of Potash Project, CPC continues to make substantial progress on a number of other important fronts including:Ongoing commercialisation focused activities based on the core aMES™ technology platform. Significant additional improvements and innovations have recently been identified and advanced during ongoing scientific investigations.Evaluation of other mining project opportunities where the potential application of the aMES™ technology may provide substantial operational and financial improvements.Some of these project opportunities involve paid-piloting, where CPC is paid to perform preliminary studies to demonstrate the performance of the aMES™ technology. To date, all of these studies have demonstrated positive results and are the basis of ongoing commercially focused discussions.Further details regarding progress and the Company's plans for CPC will be provided in the ne...