TSXV:AAA.P - Post by User
Post by
aaa-ftwon Feb 20, 2011 5:30pm
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Post# 18167153
Activity to the North
Activity to the NorthNGEx Resources Exploring in Eritrea...
Bada Potash, Eritrea
Initial mapping and geophysical surveying is underway on the Company's recently awarded Bada potash license located approximately 35 kilometers from the Red Sea coast of Eritrea. NGEx's license covers the northern portion of the Dallol evaporite basin which in Ethiopia hosts the historic potash deposits of Musley held by Sainik Coal Company, India and Dallol, held by Allana Resources, Canada. The Eritrean portion of the basin hosts the Colluli potash deposit which is currently being explored by South Boulder Mines of Australia. All three areas are being actively explored with resource estimates recently issued for all three projects. Recent results released by South Boulder Mines highlight the potential for shallow potash mineralization on the Eritrean side of the border. NGEx's license lies approximately 20 kilometers northwest of South Boulder's license and covers the northwest extension of the same basin. Any discovery of potash on the Eritrean side of the border will have significant logistical advantages over deposits on the Ethiopian side because they have much closer access to the Red Sea coast.
NGEx has contracted experienced potash consultants and has begun an initial program of gravity and magnetic surveying to define the basin depth and geometry, to be followed by a reconnaissance diamond drilling program of approximately 1000 meters in three holes. The initial drilling should be completed by the end of April and is expected to provide important information to guide a more extensive exploration program to commence before the end of the exploration season in July.