Gensource Potash with positive outlook

Published by

Dec 3, 2019

Gensource Potash Corporation (“Gensource” or the “Company”) (TSX-V: GSP), announced the kick-off of its planned fall drilling in the 100% owned Vanguard Area in central Saskatchewan. The Vanguard Area comprises two Saskatchewan subsurface potash mineral leases, KL 244 and KL 245, surrounding the Villages of Tugaske and Eyebrow.

The primary purpose of the well is to confirm the extent and grades of the potash resource in the Vanguard Area, adding to the breadth of data already collected and modeled for the area. Potash core from the Prairie Evaporite formation will be recovered, sampled and assayed as part of the geological work on this well. Geophysical logs will be collected, and drill stem tests will be performed in targeted areas, specifically the Mannville horizon. Expanding the regional understanding of the resource in the Vanguard Area builds more confidence in the high quality and substantial extent of the potash deposit and since this well is located very close to the future plant site of the Tugaske Project, it will provide specific and pertinent information with respect to Tugaske’s planned well field and mining area.

Gensource contracted CWC Ironhand Drilling (“CWC”) and their Rig #2, to complete the well. CWC is an industry-leading drilling contractor operating in western Canada.

CWC will be supported by many service providers at the site, including Artisan Consulting Services Ltd., who will be providing drill site supervision and coordination again for this well on behalf of Gensource. Artisan Consulting is a small, privately owned and operated consulting company located in Carlyle, Saskatchewan, specializing in supplying supervision services for the drilling of vertical, directional and horizontal wells within western Canada for the past 30+ years.

Mike Ferguson, President & CEO of Gensource, commented, “We are excited to be moving ahead with this fall drilling because of the value that this well creates for our understanding of the resource in the Vanguard Area, and the furtherance of our mission to develop multiple projects within the area. We look forward to the safe and successful completion of the program.”

The technical information contained in this news release was reviewed and approved by Mike Ferguson, P.Eng., the President and CEO of Gensource and a Qualified Person under NI 43-101.

About Gensource

Gensource is based in Saskatoon, Saskatchewan and is focused on developing the next potash production facility in that province – but with a fundamentally different approach. Gensource’ President & CEO, Mike Ferguson, P.Eng., has assembled a management and technical team with direct and specific expertise and experience in potash development in Saskatchewan.

Gensource operates under a business plan that has two key components: (1) vertical integration with the market to ensure that all production capacity built is directed, and pre-sold, to a specific market, eliminating market-side risk; and (2) technical innovation which will allow for a small and economic potash production facility, which is much friendlier to the environment and local populations to construct and operate - the output of which can then be directed to a single, specific market.


Articles authored by Martin Signer

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