Allana Potash Corp. (TSX:AAA)(OTCQX:ALLRF) announced updates from its feasability study led by ERCOSPLAN as well as drilling updates for its Dallol potash project located in Ethiopia.
As quoted in the press release:
In addition to the ongoing Feasibility Study, Allana is pleased to announce the drill results from its remaining exploration holes. Drilling continues to intersect strong potash mineralization on its Dallol potash project located in Ethiopia. Holes DK-12-50 to DK-12-59 are located throughout the western part of the Property and were designed to test the presence of potash in gaps in the current sylvinite mineral resource estimate released in April, 2012. Hole 59 marks the end of current exploration drilling on the project, as efforts are now focused on numerous pilot test operations in support of the ongoing Feasibility Study.
Allana Potash Corp President and CEO Farhad Abasov said:
Allana is pleased by the progress on its Feasibility Study. Technical work on site is advancing well and solution mining is now occurring at Allana’s test well fed by water from Allana’s license area. Processing studies, rock mechanic testwork, and the ESIA are all on schedule and being completed by our technical consultants at ERCOSPLAN. Allana is pleased with the results of the final exploration drill holes. The most recent drill results continue to show continuity of the potash mineralization and management believes this may allow Allana to continue to upgrade mineral resources from Inferred to Measured and Indicated categories, while adding to all mineral resource categories. We are also very pleased with the ongoing efforts to secure construction financing and long-term supply agreements for our future production. Allana is now advancing talks with large buyers of potash as it works toward finalizing the structure for construction financing.