Allana Potash (TSE:AAA) announced Thursday it intersected high-grade potash mineralization in hole DK-11-27 on its wholly owned, 154,000-hectare property in the Nequen province of Argentina.
Located in the northern portion of the concession, hole DK-11-27 was drilled to the west of hole DK-11-13 in order to test for potash mineralization there.
Assays from this hole returned 37.7% potassium chloride, or potash, over 3.45 metres at a depth of 159.9 metres. It also intersected 17.41% potash over 13.0 metres at a depth of 163.35 metres, and at a depth of 259.23 metres, the hole intersected 7.67 metres grading 23.05% potash.
President and CEO, Farhad Abasov commented: "Allana is extremely encouraged by the three zones of strong potash mineralization intersected in Hole 27 and that we were able to confirm the extension of the potash west of Hole 13.
"We believe drilling in this area will allow Allana to upgrade resources from Inferred to Measured and Indicated categories as well as add to the Inferred category."
Allana has also announced it is continuing to work on its infill drill program in the southern part of the property in hole DK-11-35 in order to upgrade certain elements of its targeted initial production zones to the measured and indicated category from the inferred category, for its feasibility study.
An updated NI 43-101 compliant resource estimate is expected by the end of the year.
The company said it is also undergoing and assessment and development of key infrastructure on the property, including road routes, and has engaged in discussions with international banks for financing, and with fertilizer and industrial organizations for strategic investments.
Proactiveinvestors is a leading multi-media news organisation, investor portal and events management business with offices in New York, Sydney, Toronto, Frankfurt and London.
No comments:
Post a Comment