Western Potash (CVE:WPX) reported today that their fourth well has intersected 25 meters of potash, indicating continued mineralization from previous results. In addition, temperature readings in the wells also continue to indicate solution mining would be economic for the project.
The release states:
The Company re-iterates that it considers formation temperature a key parameter in solution mining economics, offering advantages in solution mass-balance and savings in capital, energy and processing costs.
Expanding Program
WPX included in the release that the exploration program will be expanded with an additional 4 wells to be drilled and additional seismic surveys. The budget for the additional exploration is set at $8.5 million.
