TSXV:EPO.H - Post by User
Post by
riche_6on Sep 30, 2011 3:45pm
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Post# 19105470
New vote date Nov 26th
New vote date Nov 26thSept. 30, 2011 /CNW/ - Encanto Potash Corp. ("Encanto" or the "Company") (TSXV:EPO) (OTCQX:ENCTF) is pleased to report that the first of two (2) planned wells to be drilled in order to expand the resource to the northeast on the Muskowekwan Treaty Land Entitlement lands has been completed. North Rim Exploration Ltd., of Saskatoon is overseeing the drill program and handling of the core. The first hole was drilled to a depth of 1,245 metres and successfully intersected each of the Patience Lake, Belle Plaine, and Esterhazy Members. The core will be assayed and will also have engineering studies completed to determine certain cavern design and production parameters. The additional studies are necessary for the planned solution mine development. Drilling of the second test well will commence within days and is expected to be completed over the next several weeks.Based on the results of these two holes, and previous 2D and 3D seismic work, an updated NI 43-101 compliant resource estimate is scheduled to be released in Q4 2011 or early Q1 2012 depending on assay turnaround time.Encanto and the Muskowekwan First Nation ("MFN") also report that the treaty land designation vote has been rescheduled due to heavy caseloads within the respective Federal agencies having responsibility for this process. The agencies have now finalized the process and MFN has been advised the new voting date is Saturday November 26, 2011.