The Wall Street Journal Market Watch reported Magna Resources Ltd., 56% owned Confederation Minerals Ltd., filed the “NI 43-101 Technical Report Green River Potash Project Grand County, Utah, USA” for the Green River potash project.
As quoted in the report:
Key Highlights of the Report include:
-600 million – 1 billion tonnes of potash are permissive in the horizon known as Cycle 5, the main exploration target, and is known to host potash at a nearby producing mine;
-The Cycle 5 potash bearing horizon has the potential to grade up to 19-29% KCl (potassium chloride) as indicated by down hole gamma ray surveys;
-The Cycle 5 sedimentary horizon is extensive and very continuous at depth throughout the Company’s large 20,620 hectare property; and
-The Property has excellent infrastructure and year-round access with drilling planned for the fall of 2012 to test the extent, grade and thickness of Cycle 5 within the Property.