Red Moon Potash – Drilling Completed in Western Newfoundland
July 15, 2013 (Source: Marketwire) — Red Moon Potash Inc. (“the Company” – “Red Moon”) (TSX VENTURE:RMK), is pleased to announce that its summer drill program for potash/salt in the Bay St. George basin of western Newfoundland has been completed. Two holes were drilled offsetting the Captain Cook #1 discovery representing stepouts of 1000 meters to the northeast and 500 meters to the southwest. Each encountered the target horizon and all core from the evaporite section is being shipped to St. John’s for detailed review and selection of samples for potash and salt analysis.
The two holes represent the first drill program for the Company and the first attempt to delineate the Captain Cook potash/salt discovery. The Company owns a 100% working interest in approximately 90,000 acres in the basin. Several rounds of drilling will be required to fully assess its potential. The information obtained from these holes will be invaluable to understanding the existing seismic data and geologic history of the evaporite basin. This understanding will be important for optimizing future drill locations.
Get our daily investorintel update
Patrick Laracy, P. Geo., President and CEO of the company, a qualified person as defined by National Instrument 43-101, is responsible for the preparation of this release.
Red Moon is a junior exploration company focused on potash/salt exploration in western Newfoundland. Vulcan Minerals Inc. (TSX VENTURE:VUL) owns approximately 60% of the common shares of Red Moon and owns a 3% royalty on the project lands.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This release may contain certain forward-looking statements. Actual events or results may differ from the Company’s expectations. Certain risk factors beyond the Company’s control may affect the actual results achieved. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except by law, the Company undertakes no obligation to publicly update or revise forward-looking information.
Shares Issued: 38,000,004
InvestorIntel is a trusted source of reliable information at the forefront of emerging markets that brings investment opportunities to discerning investors.