TSXV:SAGE - Post Discussion
Post by
MarketMakerss on Apr 11, 2023 6:00pm
SAGE expands potash project with acquisition of 5,000 acres
Sage Potash (SAGE.v) announced today that it has expanded its district-scale potash project situated in Utah's prolific Paradox Basin which is known to host extensive underdeveloped world-class potash resources, totalling approx. 2 billion tons.
SAGE will be acquiring over 5,000 additional acres of private leases, adding to its existing portfolio of 83,000 acres of mineral leases and permit applications for a total of 88,118 acres and representing a 6% increase of the total land package.
J. Patricio Varas, Sage's COO & VP of Exploration commented:
"Due to the nature of potash deposits and the rather flat lying topography of the deposits - as evidenced by our 2D seismic data and correlated between the Johnson 1 exploration well and the Western Natural Gas well, located 2.2 km away - an increase in private leases will equate to an increase in the resources outlined in our 43-101 technical report."
To provide an idea of this market opportunity, potash's capabilities as a fertilizer make it a critical mineral in the support of agricultural production, making it necessary to safeguard the supply to ensure food security.
Plus, the US imports 95% of its potash requirements from Canada, thus SAGE is strongly positioned to satisfy a significant portion of US potash demands by delivering a secure line of supply with its large-scale, high-grade potash resource
In pioneering a new scalable, environmentally friendly and cost-effective method of potash production in the US, SAGE is on track to ensure a short path to initial production.
Posted on behalf of Sage Potash Corp.
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