Verde Potash (NPK.TO) today provided an update on the Company's
2012 infill drilling campaign at the Cerrado Verde potash project
in Minas Gerais state, Brazil.
A total of 15,080m in 252 reverse circulation (
) holes and 785m in 12 diamond core (DC) holes have been performed
at a spacing ranging from 200m by 200m to 100m by 100m. The
objective of this program is to increase the indicated and measured
resources of the T-7, T-10, T-11 and T-12 targets. Verde Potash
does not anticipate any further drilling prior to publication of
the bankable feasibility study in H1 2013.
The Cerrado Verde Potash Project at present has an NI 43-101
indicated resource of 71.08 million tonnes with an average grade of
9.22% K2O and an inferred resource of 2.76 billion tonnes with an
average grade of 8.91% K2O (applying a 7.5% K2O cut-off), as
outlined in the Preliminary Economic Assessment dated February 28,
2012. This resource estimate was based on 25,145m of RC drilling
performed as 443 RC holes and 932m of DC drilling performed as 13
DC holes. Drill hole spacing ranged from 400m by 400m to 200m by
Shares are down 1.3% to $3.74.