Western Potash Gambles, and Wins
On June 15th Western Potash (CVE:WPX) reported their second well drilled at the Milestone property in southern Saskatchewan returned results they believed were not indicative of the actual potash deposit on their property. The Patience Lake member was clay disturbed, and the company believed this was a local anomoly only.
To confirm this theory, WPX drilled another well at the same location, directionally offsetting the hole to test the deposit approximately 800 meters from the clay disturbed results. Results reported today confirm that the mineralization is consistent with the first well drilled 5.25km to the north and the anomolus results were local only.
According to the company, 25% of results from this type of well can be expected to be disturbed by anomolies such as those reported in the June 15 results. Drilling again with the directional offset cost approximately 70% as much as drilling a new hole, but the new results will allow the company to include the new results in a resource calculation. Dilling of a third well 7.25km south of the second site has already started.
Click here to see the full press release.
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Thu, Jul 9, 2009
Post by Melissa Pistilli, Potash Senior Reporter