ACRON : ACRON : North Atlantic Potash Announces 43-101 Compliant Resources for
Foam Lake Property
January 18, 2012
North Atlantic Potash Announces 43-101 Compliant Resources for Foam Lake
North Atlantic Potash Inc. (NAP), the Canadian subsidiary of Acron, has
completed an 11-hole drilling project on its wholly owned Foam Lake Potash
Property. In addition, 330 kilometres of 2D seismic were acquired by Boyd
Petrosearch on behalf of NAP. The internationally recognized potash geologic
company North Rim Exploration Ltd. prepared the 43-101 compliant Resource
Summary Report for Foam Lake. The results to date have confirmed 942 million
tonnes in-place at 19% KO (30% KCL) with 218 million tonnes Indicated and
724 million tonnes Inferred resources.
The Foam Lake Property consists of four contiguous Potash Permits, KP 382,
383, 508, 509, covering an area of 318,000 acres. The drill program consisted
of 11 holes with three holes in KP 382, five holes in KP 508, two holes in KP
509 and one hole in KP 383. Three typical Saskatchewan Potash Members were
intersected and sampled which included: the Patience Lake, Belle Plaine and
Esterhazy Members. As expected the Esterhazy Member was the most consistent of
the three potash zones intersected and is the bases of the resource estimate.
"We are very pleased with the results of our intensive exploration program in
the Foam Lake area which encourages us to move forward to the next stage in
our development. With the strong financial and extensive experience from our
parent Acron, this project and the Joint Venture we are pursuing with Rio
Tinto in southern Saskatchewan presents a very promising future for our
company." said Arie Zuckerman, President of North Atlantic Potash. "Our goal
remains to move the company towards potash development in Saskatchewan."
"In one short year following our very successful agreements with Yankuang
Group and Rio Tinto in September 2011, we've accomplished a significant amount
of work delineating our potash assets in Saskatchewan." added David Waugh, CEO
of North Atlantic Potash. "As we expand our resource base knowledge we'll
continue to leverage our holdings to advance our overall global potash
For Further Information:
Ms. Elena Kochubey - Tel:
+7 (495) 777 08 65
Head of Public Relations
Mr. Ilya Popov -
Tel: + 7 (495) 411 55 94 (ext. 5252)
Head of Investor Relations
Acron Group is a leadingRussian and global mineral fertiliser producer with a
diversified product portfolio consisting of multi-nutrient (NPK and bulk
blends) and straight nitrogen-based fertilisers (urea, ammonium nitrate and
UAN), as well as industrial products. In 2011, the Group's output (exclusive
of own use) totalled 5.8 million tonnes. The Group's key markets are Russia,
China and other Asian countries, Europe, America, and CIS countries.
In 2011, the Group's consolidated revenues under IFRS were RUB 65,431 million
(US$ 2,226 million), and net profit was RUB 20,328 million (US$ 692 million).
Acron's shares are listed and traded on the Moscow Exchange and the London
Stock Exchange (ticker AKRN). Acron employs over 14,000 people.
A high vertical integration, including development of potash and phosphate
deposits, operation of three large production facilities, own transportation
infrastructure and international distribution network, is a platform for the
Group's sustainable growth. The phosphate and potash projects in Russia and
Canada are Acron Group's most intensively evolving segment. After launching
the Oleniy Ruchey mining and processing complex, the Group will reach a new
stage of development by securing supplies of its own phosphate raw materials
to Acron's processing facilities.
For more information about the Group please visit www.acron.ru/en.
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information contained therein.
Source: ACRON via Thomson Reuters ONE
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