TORONTO, Dec. 8 /CNW/ -- Trigon Uranium Corp. ("Trigon" or "the Company") (TSXV: TEL), and its wholly owned subsidiary, Intercontinental Potash Corp. ("ICP") announced today the commencement of the Phase I drilling program for its flagship potash Ochoa project in New Mexico. The drill program has commenced in accordance with the program described in the 43-101 Compliant Report "Polyhalite Resources and a Preliminary Economic Assessment of the Ochoa project Lea County, Southeast New Mexico" which was prepared as at August 19, 2009. The 8 core drill hole program follows the issuance of the Preliminary Economic Assessment (PEA) and 43-101 compliant Resource Estimate which was posted on SEDAR on September 29, 2009 (www.sedar.com).
"The Ochoa project has been accelerated following the interpretation of the Preliminary Economic Assessment report and 43-101 compliant Resource Estimate in the third quarter of 2009," said Sidney Himmel, President and Chief Executive Officer of the Company. "This program, is anticipated to be completed by the middle of the first quarter of 2010, and is designed to expand and define the inferred resource of polyhalite. Polyhalite is a feedstock for the production of Sulphate of Potash. Sulphate of Potash is the premium quality and premium priced Potash. With the recent acquisition of 100 per cent of ICP by Trigon, and the completion of the $7 million international and institutional financing, we remain steadfastly on track with our development program."
Drilling is being conducted by an experienced potash drilling company, Stewart Brothers of Milan, New Mexico. Geophysical logging is being done by Century Geophysical and the QA/QC is being overseen by Qualified Person, Sean Muller, PG, CPG, RG of Chemrox Technologies in the field and at the laboratory level. Samples are being evaluated using X-ray Diffraction (XRD) and X-ray Fluorescence (XRF) by the Mineral Lab and correspondingly validated by ALS Chemex using Mass Spectrometry (MS). Mineralogical and metallurgical analyses are being undertaken by Dr. John Lufkin, previously Professor at the Colorado School of Mines, and by Dr. Depaak Malhota, professor of metallurgy at the Colorado School of Mines.
The Phase I drill program has been designed to: (i) validate interpretations of historical oil and gas geophysical logs; (ii) expand the classification of resources reported in the 43-101 Technical Report; (iii) extend the polyhalite target bed to the north-west that appear to ramp-up closer to the surface than further to the east; (iv) ascertain chemical and thickness variability; (v) determine optimal locations for Phase II in-fill drilling and prefeasibility studies; (vi) initiate baseline hydrological investigations; and (vii) protect any potable water in the area during drilling and drill hole abandonment. The Company anticipates completing the Phase I drilling program by no later than February 2010.
National Instrument 43-101 compliant QA/QC measures are being employed in the field and laboratories to ensure defensibility of the data through a validation process using blanks, standards and replicates. Core splits will be carefully preserved against moisture degradation and placed in secure, temperature controlled storage area to enable any future confirmation audits of the cored. Reference samples will be collected and photographed of all rock units encountered during drilling for future observations. Select chip samples from core will be procured for density measurements and thin section microscopy and Scanning Electron Microprobe (SEM) validation.
The Ochoa Potash prospecting permits cover subsurface mineral rights in Lea County about 60 miles east southeast of Carlsbad, New Mexico, and 23 miles west of the Texas-New Mexico state line. The property is located in five townships in Lea County, New Mexico. The Lea County airport is located near Hobbs, New Mexico. Carlsbad has air service from Albuquerque. Electric Power is supplied by Public Service Company of New Mexico. Water is supplied from local wells. A rail line runs 24 kilometres to the east of the area of interest through Jal south to El Paso, Texas. The mines in the Carlsbad district are the only potash mines in the state and produce potash from the sylvinite ore, and also produce potassium-magnesium-sulphate product from langbeinite ore. The potassium salts are used primarily by the fertilizer industry as sources of potassium and magnesium. New Mexico accounts for the majority of the United States potash production.
All scientific and technical disclosure in this press release has been prepared under the supervision of Sean C. Muller, PG, CPG and RG who is a Qualified Person within the meaning of National Instrument 43-101.
About Intercontinental Potash Corp
Intercontinental Potash Corp. ("ICP") is developing its Ochoa New Mexico property with the primary purpose of producing Sulphate of Potash. Sulphate of Potash, also known as "SOP" or Potassium Sulphate, is the premium quality and premium priced potash. The market for SOP is approximately 4 million tonnes per year. SOP is used as a significant alternative fertilizer to sylvite (Muriate of Potash or "MOP"), particularly in those situations where the chloride in MOP is not attractive for the growth of crops. Chloride sensitive crops include fruits, vegetables, tobacco, potatoes, and horticultural plants. SOP has further advantages over MOP. SOP has low salinity compared to MOP, and therefore is heavily used in various saline soils in the world, such as those found in China, India, the Mediterranean, and the United States. The Ochoa property consists of federal sub-surface potassium permits granted by the Bureau of Land Management ("BLM") covering over 45,500 acres of land.
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Trigon and ICP, including, but not limited to, risks associated with mining and drilling activities, exploration risk, the impact of general economic conditions, industry conditions, dependence upon regulatory and shareholder approvals, earth crust displacement, and the uncertainty of obtaining additional financing, as well as other risks described in the management information circular of Trigon, dated September 28, 2009 (the "Circular") , related to the proposed reverse take- over transaction (the "Transaction") involving Trigon and ICP . Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.
Completion of the Transaction and related matters are subject to a number of conditions and the receipt of all applicable regulatory approvals, including the final approval of the TSX Venture Exchange. The Transaction cannot close until all required regulatory approvals are obtained. There can be no assurance that the Transaction will be completed as proposed or at all. Investors are cautioned that, except as disclosed in the Circular, any information released or received with respect to the proposed transactions may not be accurate or complete and should not be relied upon. Trading in the securities of Trigon should be considered highly speculative. The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.
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