Largest potash deposit in the US close to pilot production Potash is a potassium-rich compound that is a vital component in fertilizer and, thus, in ensuring our food supply in the growing agricultural industry due to its ability to boost crop yields and balance crop productivity. Currently, potash demand is outpacing supply and, fractured supply chains, inflation and geopolitical instability have resulted in US National Food Security becoming a global concern.
As the US produces less than 5% of its annual potash requirements with 94% of its requirements coming from Canada, it's critical for the US to develop its own domestic supply of potash. Plus, domestic production would have a $150-225/ton price advantage by eliminating rail costs.
Sage Potash (SAGE.v SGPTF) is developing the largest potash deposit in the US close to pilot production that has the potential to be a Tier 1 deposit.
For more information, check out this informative article from InvestorIntel about the sector and how Sage Potash is strategically positioned to capitalize: https://investorintel.com/critical-minerals-rare-earths/sage-potash-seeks-to-address-supply-chain-security-and-sustainability-with-domestic-us-production/
Consisting of over 88,000 acres of mineral leases and permit applications in Utah's Paradox Basin, SAGE's Plains Project contains 2 potash beds and an inferred resource of 279.5 MMT high-grade potash (World-class Carlsbad potash deposit in New Mexico is one of the largest deposits in the US and has produced 248MMT since 1925)
With permitting plans underway for two new exploration wells which are expected to expand the resource calculation and grade, the project's substantial resource is expected to initially produce 50,000 tonnes per year in 1-2 years followed by a scaling up to 150,000 tonnes per year for up to 25 years.
SAGE has partnered with RESPEC to reinitiate engineering preparations to execute a Phase 1 Drill Hole Program, aiming to release a PEA in the second half of 2023 ahead of developing a pilot potash production facility.
RESPEC has over 50 years of working on potash and salt deposits globally, including the planning and execution for the K+S Potash solution mine and the BHP Jansen project.
By establishing a local and reliable supply chain, protecting North America from unpredictable external factors, SAGE is strongly positioned to satisfy a significant portion of US potash demands in delivering a secure line of supply with its large-scale, high-grade potash resource.
Posted on behalf of Sage Potash Corp.