Vancouver, British Columbia--(Newsfile Corp. - April 25, 2018) - Vatic Ventures Corp. (TSXV: VCV) (FSE: V8V) (OTC Pink: VTTCF) (the "Company" or "Vatic") is pleased to announce that it has contracted for additional processing of data from its initial seismic survey program (see press release dated July 26, 2017) to assist in the planning and execution of its upcoming drilling program at its Saksrithai potash project located in the Khorat Basin, Thailand.
Vatic is focused on its upcoming drilling program at the Saksrithai potash project which will be undertaken by Aztec Engineering Co. Ltd., an experienced and reputable drilling contractor who has extensive experience drilling for potash in Thailand and Laos. Drill preparation and mobilization to the first drill site has commenced and drilling is planned to commence by May 1, 2018.
The planned drilling program will comprise up to 10 holes and will commence with an initial 3 holes program which should take approximately one month from start of drilling, depending upon penetration rates. Based on information regarding the adjacent Dan Khun Thot project, Vatic expects to encounter the potash zone at depths of up to some 300 meters and the initial holes will drilled to a planned depth of 350 meters.
The Khorat basin.
Located in northeast Thailand and extending partly into Laos, the Khorat basin is a large evaporite basin which covers an area of some 130,000 km². Potash was discovered in the basin in the mid-1970s and Hite and Japakasetr (1979)* stated that "the Khorat Plateau of northeastern Thailand and central Laos has outlined what may develop into one of the world's largest potash deposits". Within the basin, the potash deposits are generally gently dipping and at shallow depth (150 to 350 m) with both sylvite and carnallite minerals present in the mixed strata-bound salt horizons of the Upper Cretaceous Maha Sarakham formation.
Since the initial discovery of potash in the Khorat basin, a limited number of companies have been granted potash exploration rights and at present there are three projects at an advanced stage of development. These include APMC's Bamnet Narong project in Chaiyaphum province, Thai Kali's Dan Khun Thot project in Nakhon Ratchasima province, both of which are under construction, and Italian Thai Developments' South Udon project in Udon Thani province. The Udon project was originally developed by Asia Pacific Resources Ltd, a Canadian company credited with Thailand's first commercial sylvanite discovery.
Four other companies, including Vatic's Thai subsidiary Saksrithai Development Co. Ltd. (Saksrithai), have been granted exploration licenses and the Saksrithai project is the only current project not controlled by Thai or Chinese companies. Projects in the Khorat basin benefit from several competitive advantages over projects of similar grade and scale elsewhere including excellent infrastructure including electricity, water, road and rail, the shallow depth to the deposits and proximity to key markets which provides significant transportation cost savings.
The Thai government is supportive of the development of the country's potash resources and has set up a steering committee to develop the industry. The committee has representatives from government and companies involved in Thai potash industry including Saksrithai. In addition, the Thai Board of Investment provides a range of investment promotion incentives to companies in the industry.
The technical information in this news release has been prepared in accordance with Canadian regulatory requirements set out in National Instrument 43-101 and reviewed and approved by Pieter J. Bakker, FAusIMM, a Qualified Person.
About Saksrithai Development Co. Ltd.
Saksrithai Development Co. Ltd. (Saksrithai) is a private Thai company which is the holder of two contiguous Special Prospecting Licenses (SPLs) for potash exploration, issued in 2015.
The licenses encompass an area of 32 km2 in Nakhon Ratchasima province, northeast Thailand and are adjacent to the Thai Kali Company's Dan Khun Thot potash mine which is currently under construction. ASEAN Potash Chaiyaphum Plc's Bamnet Narong mine, also under construction, is located some 40 km from the Saksrithai project.
The Company holds an 80% shareholding in Saksrithai and Dr. Gerry Wright acts as Saksrithai's Managing Director.
ON BEHALF OF THE BOARD OF DIRECTORS.
Nasim Tyab, Director.
* Hite, Robert J. and Japakasetr Thawat. Potash Deposits of the Khorat Plateau, Thailand and Laos. Economic Geology. Vol. 74. 1979. Pages 448-458.
FOR FURTHER INFORMATION PLEASE CONTACT:
ABOUT VATIC VENTURES CORP.
Vatic Ventures Corp (www.vaticventures.com) is a junior exploration company exploring and developing potash licenses in Thailand.
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