Passport Potash Announces Completion of First Phase of Drilling on Hopi Property
VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 25, 2013) - Passport Potash Inc. ("Passport" or the "Company") (TSX VENTURE:PPI)(OTCQX:PPRTF) is pleased to report that it has completed the first phase of its drilling program on the Hopi private land that is "checker-boarded" with Passport's southern landholdings in the Holbrook Basin in Northern Arizona. A total of 8 holes were drilled in the first phase of exploration on the Hopi property. The analytical results from the first three holes drilled were included in the updated mineral resource estimate reported on February 26, 2013, and were also used in the Preliminary Economic Assessment reported on March 13, 2013.
The remaining five holes have been drilled, cored and assay results have been obtained from SRC Laboratories in Saskatchewan, Canada. The analysis for all first phase holes is shown in Table 1 below. Drill intercepts are believed to represent true thicknesses as the wells were drilled vertically and the potash beds are essentially flat lying. The data from these holes is expected to be included in a pre-feasibility study which is anticipated to be completed by the end of 2013.