Business
Western Potash Corp. Executes Drilling Agreement With Red Dog Drilling Inc.
Western Potash Corp. Executes Drilling Agreement With Red Dog Drilling Inc.
About this update from Western Resources Corp
[{"type":"text","content":"\nWestern Potash Corp. Executes Drilling Agreement With Red Dog Drilling Inc.\n\n\n Apr. 21, 2009 (Baystreet.ca) -- VANCOUVER, BRITISH COLUMBIA -- Western Potash Corp. (the \"Company\") (TSX VENTURE:WPX)(FRANKFURT:AHE) is pleased to announce that it has signed a drill contract agreement to commence its 2009 potash exploration drilling program within the Milestone Property, in Saskatchewan, and the Russell South Property in Manitoba.\nUnder the terms of the agreement, the Company has secured a telescopic-double drill rig supplied from Red Dog Drilling Inc. based out of Estevan, Saskatchewan to complete up to an 8 month term drilling program. The Company will drill three wells within the Milestone property in Saskatchewan, followed by an additional two wells within the Russell South property in Manitoba.\nSaskatchewan\nThe Milestone property comprising approx. 500 square km, is located approximately 30 km southeast of Regina, and to the southeast of the Mosaic Company's Belle Plaine KL-106-R mining lease, which hosts one of the largest producing potash solution mines in the world. The property is immediately adjacent to potash permits held by BHP-Billiton, Vale (through a recent sale by Kennecott Canada Exploration) and Potash One.\nDuring 2008, the Company purchased, reprocessed, and interpreted 138 line-km of two-dimensional seismic data in order to map out the extent of the potash prospective beds within the property. The interpretation of the seismic data has confirmed the presence of potash prospective salt beds continuing onto the eastern portion of the property, within 15 km of the potash wells drilled by Kennecott during 2008 (subsequently sold to Vale), and covering an area of over 185 square kilometers highlighting a sizeable and attractive new exploration target area. The Company has designed an initial, three well exploratory drill program to define the extent, grade, thickness and type of potash mineralization present on the property. Geological data suggests that all three potash bearing members of the Prairie Evaporite formation are present within the target area at depths amenable to solution mining.\nThe first well license has been issued by the Saskatchewan Ministry of Energy and Resources, and two other well license applications are currently being processed. Drilling of these wells will commence immediately aft...