Sennen Potash Corporation ("Sennen" or the "Company"), along with its partners, Paradox Basin Resource Corp., is pleased to provide a project update on the Monument Potash Project ("Monument") in South East Utah and South West Colorado.
Sennen has engaged North Rim Exploration Ltd. ("North Rim") for the initiation and execution of a full service, multi-phase potash exploration program at Monument including, amongst other tasks, the completion of a mineral resource estimate compliant with industry recognized standards. To date, North Rim's initial activities have focused on the completion of a preliminary desktop review and technical analysis of Monument, including the review of historic geological reports and papers, historic wells and well log data completed by natural resource companies active or previously active in the region. North Rim has commenced compiling a quality data set for inclusion into the mineral resource estimate once new data from drilling is available.
The Company has also engaged RPS Canada Ltd. ("RPS Canada") for seismic acquisition project management and interpretation. Following receipt of the results and recommendations of North Rim's initial review, 20 seismic lines totaling 275.1 miles have been acquired and will shortly be interpreted by RPS Canada. The 2D seismic data was originally shot between 1979 to 1986 and intersects existing historic well data.
Following review and analysis of the interpreted seismic from RPS Canada, the Company and North Rim will commence in-depth drilling preparation and submit the reports and applications required for permitting of our upcoming exploration wells. The Company aims to commence drilling up to three exploration wells prior to the end of 2013. Longer lead time items, including securing drilling contracts and initiating permitting have already been started.
Ian Rozier, President and CEO of Sennen said: "We are delighted to be working with North Rim and RPS; the caliber of their expertise and experience in the potash industry is a welcome addition to our existing technical team. With the recent acquisition of over 275 miles of seismic over the project area, we are on track with our planned 2013 exploration programme and look forward to further advancing Monument."
About North Rim
Established in 1984, North Rim is a Saskatchewan-based geoscience and engineering consulting firm focused on providing comprehensive geological and engineering expertise. North Rim has a well-established global potash expertise, including work in the Utah Paradox basin, and has worked with a variety of clients ranging from large international exploration firms, such as Mosaic Potash and PCS, to regional firms, such as Athabasca Potash and Encanto Potash. For further information on North Rim, please visit www.northrim.ca.
About RPS Canada
RPS is a part of RPS Group Plc, an international consultancy providing advice and technical support for the development of natural resource projects, including seismic operations, wellsite operations, geology and geophysics. RPS has experience in a wide variety of both geological and geographical regions throughout the world and has worked on various types of wells and in various play-type environments. For further information on RPS, please visit www.rpsgroup.com/Canada.
Sennen has, together with our industry partners, assembled an experienced team of multi-disciplined professionals to focus on the exploration and responsible development of the Monument Potash Project. Monument is comprised of over 100,000 net mineral acres of highly contiguous mineral leases in South East Utah and South West Colorado and is located less than 70 miles from Intrepid Potash Corp.'s operating Cane Creek Solution Mine. Sennen is currently undertaking exploration work required to delineate the potash resource estimate.
The disclosure of technical and scientific information in this news release has been read and approved by Tabetha A. Stirrett, P. Geo., of North Rim Exploration, a consultant to the Company. Tabetha Stirrett is a Professional Geologist registered in the province of Saskatchewan and is a Qualified Person as defined by NI 43-101.
Neither the TSX Venture Exchange (the "TSXV") nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) has reviewed, nor do they accept responsibility for the adequacy or accuracy of, this release.