Red Moon Potash-Drilling Update
July 23, 2014 (Source: Marketwired) — Red Moon Potash Inc. (“the Company” – “Red Moon”) (TSX VENTURE:RMK) announces that it has successfully completed the first of two holes at its Captain Cook salt/potash exploration program in Western Newfoundland. CC #4 was drilled to a total depth of 536 metres and encountered a gross interval of 345 metres of salt (halite) containing a potash zone of approximately 10 metres in thickness. The potash zone consists of an intercalated mixture of mudstone, salt and potash similar to the zone encountered in CC #2. The CC #4 drill results confirm the interpretation that the location is situated on a salt swell, an area of thickened salt caused by salt movement. The quality of the salt is visually similar to that observed in the CC #1 and CC #2 holes, located 1000 and 500 metres to the southwest respectively, where significant widths of high grade salt were encountered. Representative samples of the core will be assayed upon completion of the drill program. The drill rig has moved to CC #5 which is located 1000 metres east of and down dip of CC #1 and will represent the first delineation hole to step out in this direction. The purpose of the hole is to further delineate the salt deposit and to penetrate the potash at a greater depth. Drill location maps are available at the company’s website www.redmoonpotash.com.
The Captain Cook salt/potash project is located in the Bay St. George Basin of Western Newfoundland near deep water ports and an airport. The Trans-Canada highway and high voltage electrical power lines cross the property. The project is delineating an evaporite package of rocks analogous to the geology containing the potash/salt mines in the Sussex basin of New Brunswick. Patrick 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.
Red Moon owns a 100% working interest subject to a 3% royalty to its parent company, Vulcan Minerals Inc. (TSX VENTURE:VUL). Vulcan is providing project management services to Red Moon, capitalizing on Vulcan’s drilling experience in the region.
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.
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