| | Published : May 27th, 2009 | Acquires Additional Potash Projects in Utah |
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Re: News Releases - Wednesday, May 27, 2009 Title: Mesa Uranium Acquires Additional Potash Projects in Utah
Mesa Uranium Corp. ("Mesa") (TSX-V MSA) is pleased to announce that its potash exploration permit applications have passed a Suitability Review at the Bureau of Land Management (BLM) District Office. The White Cloud potash project has been expanded to 35,510 acres and applications have been filed for two new projects, Salt Wash at 21,184 acres and Whipsaw with 17,968 acres. A total of 74,662 acres (116 square miles) of Mesa applications have passed BLM Suitability Reviews. The BLM state office will now process the applications and request a detailed exploration plan for each application from Mesa. Upon approval of Mesa's exploration plans, Exploration Permits will be issued.
Mesa's projects have excellent potential for potash production from both solution mining and artesian brine that is supersaturated (>40% solids) with potassium, magnesium, lithium, bromine and other minerals with potential commercial implications. In artesian wells groundwater flows upward through a well without the need for pumping. The projects are close to rail, interstate highway, natural gas pipelines and power lines.
The projects are located in southeastern Utah within the Paradox Basin, a geologic province known to contain potash deposits and mineral-rich artesian brines. The United States Geological Survey and Utah Geological Survey have documented these occurrences in various reports and the projects are within an area categorized as a high "known mineral deposit area" for potash beds by the U.S. Bureau of Mines.
Just 1.5 miles to the south of the White Cloud project, Intrepid Potash's Cane Creek potash mine produces approximately 80,000 tons of potash and 100,000 tons of by-product salt annually. Potash is produced by solution mining and solar evaporation from potash beds #5 and #9 at depths of 3,000 to 4,500 feet. The mine has been in production for over 40 years.
Initial oil exploration wells drilled in the 1950s and 1960s at the White Cloud project experienced free flowing (artesian) blow-outs when they unexpectedly drilled into super-saturated brines. At the White Cloud project over half of the 55 square mile property has been drilled for oil, and the historic oil well logs show that potash beds #5, #9 and mineral-rich artesian brine aquifers underlie the project. Mesa is reviewing reports and radiometric logs from historic oil drilling to assess grade, thickness, and depth of the potash beds as well as grade and flow rates for the brines.
Historic analyses of brine samples from oil wells drilled on the White Cloud project indicate commercial grades of potassium, magnesium, lithium, bromine and other minerals:
Historic Oil Well |
Potassium Chloride Percent |
Magnesium Chloride Percent |
Lithium PPM |
Bromine PPM |
King Oil No. 2 |
8.0 |
18.7 |
173 |
1,150 |
Pure Oil No. 2 |
4.0 |
13.0 |
81 |
2,041 |
Roberts Brine Well |
6.3 |
13.3 |
1,700 |
2,500 |
Southern Natural #1 |
4.4 |
17.8 |
500 |
6,100 |
Tidewater 74 -11 |
4.3 |
15.3 |
NA |
NA |
For reference, grades at commercial potash brine operations around the world range from 0.5 to 2.0% potassium chloride and commercial lithium brine operations grade ranges from 200 PPM to 1,500 PPM.
Oil and gas wells located within the White Cloud project area have penetrated the potash beds and brine at depths of 4,700 to 7,400 feet. Brine flow rates ranging from 3,600 to 11,700 barrels per day have been measured from historic oil wells. If found to be persistent the brine could provide sufficient production without the need for injection and production wells and pumps as used in traditional potash solution mines.
At the Salt Wash project oil and gas wells penetrated the potash beds and brine at depths of 3,500 to 8,600 feet and 1,500 to 7,000 feet at the Whipsaw project. Mesa is in the initial stages of reviewing data from these two projects.
About Potash Potash (K2O potassium oxide) is a fertilizer essential to plant nutrition and is critical to modern agriculture. A growing world population is accelerating the need for higher crop yields, leading to massive growth in demand. Potash demand is reflected in the price trend, with prices increasing from $100 per ton in 2000 to over $700 per ton in 2009. The United States is the world's largest consumer of potash and imports over 80% of its requirements.
About Mesa Uranium Mesa is a mineral exploration company focused on uranium and potash in the western United States. Mesa has 100% ownership of 46 square miles of uranium exploration lands in the Lisbon Valley Mining District in Utah and the Arizona Strip Mining District in northern Arizona and 116 square miles of potash exploration applications in Utah. For further information please visit our website at www.mesauranium.com.
Qualified Person This Press Release has been prepared and revised under the supervision of Gregory French, P. Geo, a Qualified Person as defined by National Instrument 43-101 guidelines.
ON BEHALF OF THE BOARD OF DIRECTORS OF MESA URANIUM CORP.
(signed) Foster Wilson, President and CEO
This news release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, including the likelihood of commercial mining and possible future financings are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include unsuccessful exploration results, changes in metals prices, changes in the availability of funding for mineral exploration, unanticipated changes in key management personnel and general economic conditions. Mining is an inherently risky business. Accordingly the actual events may differ materially from those projected in the forward-looking statements. For more information on the Company and the risks and challenges of its business, investors should review the Company's annual filings that are available at www.sedar.com
For further information call:
Susan Bertling, 1-604-688-7508
The TSX Venture Exchange has neither approved nor disapproved of the contents of this news release.
Copyright � 2009 MESA URANIUM CORP. (TSX-V MSA) All rights reserved. For more information visit our website at http://www.mesauranium.com/ or send email to info@mesauranium.com .. Message sent on Wed May 27, 2009 at 9:50:29 AM Pacific Time
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Mesa Exploration
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EXPLORATION STAGE |
CODE : MSA.V |
ISIN : CA59064J1075 |
CUSIP : 59064J107 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Mesa Exploration is a uranium exploration company based in Canada. Mesa Exploration holds various exploration projects in USA. Its main exploration properties are LONE STAR UTAH, HOLBROOK, GREEN ENERGY, MOONSHINE SPRINGS and LISBON VALLEY PROJECT in USA. Mesa Exploration is listed in Canada and in United States of America. Its market capitalisation is CA$ 967 288 as of today (US$ 726 356, € 661 565). Its stock quote reached its highest recent level on February 11, 2011 at CA$ 1.49, and its lowest recent point on February 19, 2016 at CA$ 0.01. Mesa Exploration has 16 121 460 shares outstanding. |
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