Red Moon Potash Inc.: Plans Drilling Program
February 28, 2013 (Source: Marketwire) St. John’s ND — Red Moon Potash Inc. (TSX VENTURE:RMK) announces that it continues with pre-drilling planning, permitting and procurement work towards a 2013 drill program for potash/salt in the Bay St. George basin of western Newfoundland. A tender has been issued for drilling bids and exploration approval applications have been submitted to government regulators. Subject to the approval process, the Company will decide on the timing and scale of the drilling program. Previous work located a new potash discovery in the Captain Cook area at depths less than 400 metres with encouraging grades up to 20% K2O (32% KCl). It is currently planned to step out from that discovery hole to better understand the potash distribution in this area. The Company has the benefit of an extensive seismic database in the basin to integrate new drill results and better define the distribution of the evaporite rocks which contain the potash beds. The Bay St. George property has immediate access to deep water ports, road and power grid networks. The property is contained within the larger Maritimes Basin of Atlantic Canada which hosts the Sussex, (New Brunswick) Potash Mine operated by Potash Corporation of Saskatchewan.
The Company will be attending the PDAC 2013 conference and exhibition in Toronto, March 3rd to 6th and wishes to invite all interested parties to visit us at Booth 3007.
Red Moon is a junior exploration company focused on potash/salt exploration in western Newfoundland.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. The statements made in this News Release may contain certain forward-looking statements. Actual events or results may differ from the Company’s expectations. Certain risk factors may also affect the actual results achieved by the Company. There can be no assurance that forward-looking information will prove to be accurate. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from any conclusions, forecasts or projections described in the forward-looking information. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.
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