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Last C$0.02 CAD
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As of 9:41 AM 08/31/15 All times are local (Market data is delayed by at least 15 minutes).

red moon potash inc (RMK) Snapshot

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red moon potash inc (RMK) Details

Red Moon Potash Inc., a junior mineral exploration company, is engaged in the acquisition, evaluation, and exploration of mineral properties in Canada. The company primarily explores for potash and salt in Newfoundland and Labrador. It owns 100% interest in mineral licenses that cover an area of approximately 89,884 acres in the northern Bay St. George Basin of Western Newfoundland. The company was founded in 2011 and is headquartered in St. John’s, Canada. Red Moon Potash Inc. operates independently of Vulcan Minerals Inc. as of August 15, 2012.

Founded in 2011

red moon potash inc (RMK) Top Compensated Officers

Chief Executive Officer, President and Direct...
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Compensation as of Fiscal Year 2013.

red moon potash inc (RMK) Key Developments

Red Moon Potash Inc. Auditor Raises 'Going Concern' Doubt

Red Moon Potash Inc. filed its Annual on Apr 16, 2015 for the period ending Dec 31, 2014. In this report its auditor, PricewaterhouseCoopers LLP, gave an unqualified opinion expressing doubt that the company can continue as a going concern.

Red Moon Potash Inc. Reports Significant Widths of High Grade Salt from its 2014 Drill Program in the Captain Cook Area of the Bay St. George Basin in Western Newfoundland

Red Moon Potash Inc. reported significant widths of high grade salt from its 2014 drill program in the Captain Cook area of the Bay St. George Basin in western Newfoundland. The Company drilled two holes in its 2014 exploration program (Captain Cook #4 and Captain Cook #5). Drill Hole CC#4 is located approximately 1,750 metres northeast of the potash/salt discovery hole CC#1 (previously reported). CC#5 is 1000 metres east of CC#1. The objective of the program was to delineate the salt deposit towards supporting a National Instrument 43-101 Compliant Resource Assessment. The holes tested a seismic anomaly interpreted to be salt swell (area of thickened salt due to flow movement) trending approximately northwest -southeast. The holes were successful in confirming that the anomaly is a salt swell with CC#4 encountering a gross interval of 347 metres of salt and CC#5 encountering a gross interval of 231 metres of salt. The potash zones in both holes were dominated by mudstone and orange-red salt resulting in little preservation of potash. This is consistent with the geologic model that potash is best developed and preserved down slope of salt swells similar to the New Brunswick potash mines in the Sussex basin. The best potash drilled in the Captain Cook area is situated off the salt swell. These two holes represent large step outs from the previous drilling and confirm the presence of a significant salt deposit. A first pass sampling program was carried out on both core holes to gauge the tenor of Sodium Chloride -NaCl (halite - salt) and Potassium Chloride (potash) grade over various zones. The salt assays are consistently high grade while the potash zones are diluted by the intercalation of extensive mudstone as noted by the high insoluble analysis. It appears that the potash in these holes has been disrupted by salt movements to a greater degree than seen in CC#1 and CC#2 where higher grades were encountered. The analysis was carried out by Activation Laboratory Services Ltd. of Ancaster, Ontario. Assays greater than 94% NaCl are considered to meet specifications for use as road de-icing salt, the major use for salt in northeastern North America. CC#4 encountered a 347m salt interval from a depth of 183m to 530m of consistent quality with the exception of approximately 24m of inter bedded mudstone/orange-red salt/potash spread over several intervals. CC#5 encountered a 231m salt interval from a depth of 394m to 625m of consistent quality with the exception of approximately 8m of mudstone/red-orange salt/potash. The middle salt section grades slightly lower in NaCl due to anhydrite impurities. The Captain Cook area has access to important infrastructure including two nearby deep water ports, an airport, the Trans-Canada highway, high voltage power grid and an extensive woods road network. Hooker Robinson Hole-Historical Information: As a result of the Company's ongoing evaluation of the Bay St. George Basin, some historical drilling results have been compiled to demonstrate its potash potential. In 1972 Hooker Chemical Corp. drilled the Robinson's hole approximately 25 kilometres southwest of the Captain Cook area in search of potash. The hole was located on the basis of a gravity low anomaly indicative of a salt swell. They encountered a gross salt interval of 483m from 212m to 695m depth. The zones are relatively thick and consist of salt, potash and mudstone such that the assays are probably blended and contain higher grades of potash over narrower intervals across each zone. This is suggested in the interval 522.73 - 523.10m where four individual samples of potash were reported with relatively high grade potassium including magnesium. These were the only samples for which assays were provided over narrow intervals. These results are as reported by Hooker Chemical in an assessment report filed with the Government of Newfoundland, Dept of Natural Resources in 1973, specifically Stormon, D.B.(1973) "Analysis of Robinson's Salt Deposit, private report to Hooker Chemical" NFLD 12B (151). Though it is historical in nature and not verifiable by a Qualified Person pursuant to National Instrument 43-101 the report and its contents appear to have been prepared under standard best practices of the time and the Company has no reason to doubt its validity. The Hooker Robinson's hole was located on a gravity low anomaly and appears to have been drilled on a salt swell where significant amounts of potash were preserved in mudstone and salt beds. There are no records known to the Company about any further drilling near this hole for potash. Based on the geologic model of exploring for higher grade potash down slope of salt swells, the Robinson's area deserves serious exploratory attention given the magnitude of potash occurring in the swell. The company is evaluating the merits of further exploration for potash in this area.

Red Moon Potash Inc. Successfully Drills the Second Hole of the Captain Cook Salt/Potash Exploration Program in Western Newfoundland

Red Moon Potash Inc. announced that it has successfully drilled the second hole of the Captain Cook salt/potash exploration program in western Newfoundland. CC #5 was drilled to a total depth of 632 metres and encountered a gross interval of 225 metres of salt (halite) containing three potash zones. Based on visual inspection, each of the potash zones appears to be less than one metre thick. The core from both CC #4 and CC #5 is being logged in detail and sampled for salt and potash analysis. Results will be released when available. Hole CC #5 is 1,000 metres east of the discovery hole CC #1 and demonstrates, in conjunction with the results previously released from CC #4, the extensive nature of the salt beds. The salt deposit is now proven by drilling to extend 2.5 kilometres in a northeast-southwest direction and 1,000 metres east-west. Seismic data linking current drilling with drill holes two kilometres south of CC #1 suggest a much larger resource in the area. The Captain Cook salt/potash project is located in the Bay St. George Basin of Western Newfoundland near deep water ports and an airport.


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