Ringbolt Ventures has started a drilling program at its Lisbon Valley potash project in Utah.
The company has proposed a drilling program to examine the salt and potash horizons at one of its state leases, which is on section 36, township 29.5 south and range 25 east. The plan of this program is to employ reverse circulation (RC) drilling to the crest of the salt bed 5 at around 2,800 ft depth, wherein historical assay of 18.5% K2O was reported and then perform the core drill at the potash bed and this RC drilling will be continued to the crest of the salt bed 9 at about 3,770 ft depth, where historical assays of 31.09% K2O was encountered.
Initially, potash was identified in an oil and gas well of Paradox Basin. Superior Oil drilled the primary potash at the Lisbon Valley anticline’s peak during 1962. The Cane Creek mine, which is owned and operated by Intrepid Potash, has been producing potash since 1964.
The President of Ringbolt has stated that the company has begun aggressive drilling at its project to increase the significant potential of potash deposits, analogous to the nearby Cane Creek mine and has worked hard for the last three years to gain the necessary support at Federal levels.
Source: http://www.ringboltventures.com/