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red moon potash inc (RMK) Snapshot

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07/11/13 - C$0.09
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Market Cap
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38.0M
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red moon potash inc (RMK) Details

Vulcan Minerals, Certain Mineral Property Assets in Western Newfoundland comprises assets showing prospectivity for potash and salt. The assets are located in St. John's, Canada. Vulcan Minerals, Certain Mineral Property Assets in Western Newfoundland operates as a subsidiary of Vulcan Minerals Inc. Red Moon Potash Inc. operates independently of Vulcan Minerals Inc. as of August 15, 2012.

red moon potash inc (RMK) Top Compensated Officers

Chief Executive Officer, President and Direct...
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Compensation as of Fiscal Year 2012.

red moon potash inc (RMK) Key Developments

Red Moon Potash Inc. Reports Drill Program in the Bay St. George Basin of Western Newfoundland

Red Moon Potash Inc. reported significant widths of high grade salt from its 2013 drill program in the Bay St. George Basin of western Newfoundland. Drill Hole CC #2 is approximately 1,000 meters northeast of the potash/salt discovery hole CC #1 (previously reported). CC #3 is 500 metres southwest of CC #1. A first pass sampling program was carried out on both core holes to gauge the tenor of Sodium Chloride -NaCl (halite - salt) grade over the various zones identifiable by visual interpretation. The samples are considered representative of the wider zones in which they are contained. Based on the geochemical analysis, CC #2 contains two high grade intervals, one each in the upper and middle halite zones. The samples assayed were selected as representative of these zones. The upper zone is 15 metres of continuous massive halite. The middle zone is 40 metres of massive halite (net) exclusive of the potash beds (previously reported). The lower zone is 74 metres of massive halite with increasing inclusions of anhydrite (insolubles) near its base. Further sampling over this lower zone will be required to gain better control on its grade variation. Depending on mining methods, a minable width for salt can range from 5 to 15 metres. Based on the geochemical analysis, CC #3 encountered high grade salt over narrower intervals compared to CC #2. Geological data suggests that CC #3 represents a more marginal depositional setting than CC #2 resulting in less salt deposition in the lower zone and probable dissolution of the top part of the upper halite zone. The net effect being a gross halite interval of 68 metres in CC # 3 compared to 150 metres in CC #2. Four samples were submitted for XRD (X-ray Diffraction) analysis to compare the results of the geochemical analysis. Given the consistently higher results derived from the XRD method, further comparative analysis will be required to resolve the apparent discrepancies between the two methods. CC #2 is 1000 metres northeast of the discovery hole CC #1. Given the high grade salt results (32 metres exceeding 96% NaCl) in CC #1 and the positive indications from seismic data in the area, the Captain Cook location is showing the potential to contain a significant salt resource. As a result, the Company has initiated a detailed, in-house evaluation of the salt data to assess whether or not a National Instrument 43-101 compliant salt resource report is viable at this time. The Captain Cook area has access to important infrastructure including two nearby deep water ports, an airport, the Trans- Canada highway, high voltage power grid and an extensive woods road network. Red Moon will pursue parallel paths toward evaluating both the salt and potash potential of the region. Subject to financing, the Company is planning a drill program in 2014 to test targets for both salt and potash east of the existing holes.

Red Moon Potash Inc. Announces Management Changes

Red Moon Potash Inc. announced the appointment of Sharon M. Dunn, C.A. as Chief Financial Officer and Corporate Secretary effective November 6, 2013. Ms. Dunn is a member of the Institute of Chartered Accountants of Newfoundland and Labrador and the Institute of Chartered Accountants of Saskatchewan and a member of the Canadian Institute of Chartered Business Valuators. Dawn Bishop has resigned as Chief Financial Officer - Corporate Secretary to pursue other career opportunities.

Red Moon Potash Inc. Announces Extended Captain Cook Salt/Potash Deposit Drill Results

Red Moon Potash Inc. announced that drilling has been successful in the extending the Captain Cook salt/potash deposit. The company recently drilled two holes in the Captain Cook area, CC #2 is approximately 1000 metres northeast of the potash/salt discovery hole CC #1. CC #3 is 500 metres southwest of CC #1. Captain Cook #2 encountered 150 metres (303-453 m) of salt including an upper zone of interbedded red salt, grey salt, mudstone and disseminated sylvite at 318 m - 329 m. The upper zone is interpreted to correlate with the main upper zone at CC #1. The lower concentration of potash at CC #2 indicates it is located distal from the main potash evaporatic event. CC #3 encountered 70 metres of salt (225m - 295m) including a zone of interbedded red and grey salt with minor sylvite at 275 m - 280 m. Neither sample analysed returned greater than 1% K(2) O. CC #2 and CC#3 extend the salt basin over a width of approximately 1.5 Km in a north - south orientation in the Captain Cook area. Each hole intersected the potash zone near its depositional margins where potash development is less mature than at CC#1. They were located to the test the extreme margins of potash distribution along readily accessible drill locations in a north and south direction. The most prospective sites in the Captain Cook area for potash remain to the east and west of CC #1 along the geologically interpreted depositional centres where potash development is anticipated to be concentrated. The next round of drilling will test these locations. It is anticipated that 6 - 8 holes will be required to test the potash potential of the area. The cores from CC #2 and CC #3 will now be sampled for NaCl (salt) concentrations. Salt analysis at CC #1 was very encouraging with a high grade zone of 32 metres (220m-252m) of NaCl exceeding 96% purity. This occurs in a wider interval of salt exceeding 160m in thickness. The core analysis reported in this release was performed by the SRC Geoanalytical Laboratories of Saskatoon, Saskatchewan. All core samples were acquired, sampled, packaged, labelled and transported by or under the direct supervision of company personnel. Patrick J. Laracy, P.Geo., President and Corwin Northcott, P.Geo., Exploration Manager, are qualified persons responsible for the contents of this news release as defined in National Instrument 43-101.

 

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