large Mongolian ground
greenfield potash play in prospective terrain
Shares 56,087,394
Options (unlisted) 15,000,000 @ 20 cents
Cash @ 30/06/10 $3,681,000
Market Cap = $7 million @ 13 cents
25 August 2010
Drilling to commence at Uvs potash project in Mongolia
Uvs Basin Project - Mongolia
(Potash; lithium & potassium brines exploration - GMM 100%)
The project comprises 5 granted exploration licences covering more than 2,000 km2 within the Uvs Nuur Basin that is considered prospective for bedded and domal (salt diapir) potash deposits as well as for lithium and potassium brines.
Some rock salt, soda ash & gypsum deposits and base metal
occurrences have been discovered within the Uvs Basin (Figure 1) and limited drilling at the northern periphery of the basin in the 1950-60s intersected shallow potash mineralisation in up to 600 m thick Devonian evaporates.
These drilling results from the Russian part of the Uvs Nuur Basin confirm the prospectivity for solid potash and/or potassium brine deposits.
It is expected that the drilling program will commence in September once all necessary approvals are received.
large Mongolian groundgreenfield potash play in prospective...
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