| Red Moon Potash Inc.: Salt/ Potash Drilling Commences in Western Newfoundland | |
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ST. JOHN'S, NEWFOUNDLAND AND LABRADOR--(Marketwired - Jul 3, 2014) - Red Moon Potash Inc. ("the Company" - "Red Moon") (TSX VENTURE:RMK) announces that drilling has commenced on its Captain Cook salt/potash deposit in Western Newfoundland. The summer drill program will consist of two holes, CC #4 located approximately 500 metres north of CC #2 which was drilled in 2013. CC #2 encountered 150 metres (303-453 m) of salt including an upper zone of stringer potash beds at 318 m - 329 m. CC #4 is a northeast stepout testing a seismic anomaly interpreted to be a thickened evaporite section (salt - potash bearing interval). CC #5 is located approximately 1000 metres east of the discovery hole Captain Cook (CC) #1. This is the first hole to stepout in an easterly direction where the evaporite section thickens down dip. These two stepout holes are intended to add substantial tonnage to the salt deposit and further calibrate potash distribution in the basin. Drill location maps are available at www.redmoonpotash.com. The holes are being drilled by a continuous coring rig operated by Logan Drilling Limited, an established and experienced driller in this geologic environment. Holes are not expected to exceed 600 meters in depth. The Captain Cook salt/potash project is located in the Bay St. George Basin of Western Newfoundland near deep water ports and an airport. The Trans Canada highway and high voltage electrical power lines cross the property. The project is delineating an evaporite package of rocks analogous to the potash/salt mines in the Sussex basin of New Brunswick. Red Moon owns a 100% working interest subject to a 3% royalty to its parent company, Vulcan Minerals Inc. (TSX VENTURE:VUL). Vulcan is providing project management services to Red Moon, capitalizing on Vulcan's drilling experience in the region. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This release may contain certain forward-looking statements. Actual events or results may differ from the Company's expectations. Certain risk factors beyond the Company's control may affect the actual results achieved. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except by law, the Company undertakes no obligation to publicly update or revise forward-looking information.
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Vulcan Minerals Inc.
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EXPLORATION STAGE |
CODE : VUL.V |
ISIN : CA9289451044 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Vulcan Min. is a silver and gold exploration company based in Canada. Vulcan Min. holds various exploration projects in Canada. Its main exploration properties are KINGURUTIK, TL, FLAT BAY, BUFFALO HILLS, MEDICINE HAT, CARBONEAR and GOOSE SOUTH in Canada. Vulcan Min. is listed in Canada and in United States of America. Its market capitalisation is CA$ 9.4 millions as of today (US$ 6.8 millions, € 6.4 millions). Its stock quote reached its highest recent level on June 06, 2008 at CA$ 1.59, and its lowest recent point on November 08, 2019 at CA$ 0.02. Vulcan Min. has 58 530 000 shares outstanding. |