JonnyRBuck12
2 years ago
American Potash appoints Besserer to board
2023-05-10 10:20 ET - News Release
Mr. Jonathan George reports
AMERICAN POTASH APPOINTS MR. DEAN BESSERER TO ITS BOARD OF DIRECTORS
American Potash Corp. has appointed Dean Besserer to the board of directors of the company.
Mr. Besserer has more than two decades of mineral exploration experience working in over 50 countries, including across much of North America and often leading projects with annual exploration budgets exceeding US$20 million. Mr. Besserer was previously Vice-President and Partner at APEX Geoscience Ltd., a consulting firm with offices in Canada, South America and Australia, with clients including BHP Billiton, De Beers, North Country Gold and Kaminak Gold. In addition, Mr. Besserer previously served as a director of Brilliant Mining, Niblack Resources, Sentosa Mining and VP Exploration for various junior mining companies. He is a Professional Geologist and a "Qualified Person" as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101").
Jonathan George, President and CEO comments, "I'm extremely pleased to have Dean join our Board of Directors at this critical and exciting juncture in the growth of our Company. His extensive experience and expertise will be invaluable as we advance our Green River Potash and Lithium Project, and I look forward to working with him over the upcoming years."
The Company also announces that it has granted 500,000 incentive stock options exercisable at a price of $0.075 for a period of 5 years from the date of grant.
About the Green River Potash and Lithium Project
A Technical Report prepared in accordance with NI 43-101 by Agapito Associates Inc. states that the Green River Potash and Lithium Project hosts an Exploration Target estimated to contain 600 million to 1 billion tons of sylvinite grading between 19% to 29% KCL*.
This target was modelled utilizing gamma-log data from 33 historical oil and gas wells within and near the project area, and based on a specific stratigraphic horizon know as Cycle 5. This is one of the same horizons that Intrepid Potash Inc. (NYSE-IPI), America's largest potash company, produces from at their nearby Moab solution mine, providing strong evidence of stratigraphic continuity within this part of the Paradox Basin.
The Company holds a 100% interest in eleven State of Utah (SITLA) mineral and minerals salt leases covering over 7,000 acres, 128 Federal lithium brine placer claims covering 2,650 acres, and is in the final stages of the application process for 11 Federal (BLM) Potash Exploration permits comprised of approximately 25,000 acres.
Significantly, three of the State leases and a large area covered by the Federal (BLM) Potash Permit applications lie within or border an area designated for future potash and brine and processing, including energy efficient solar evaporation ponds.
Located only 20 miles northwest of Moab, Utah, the Project has significant logistical advantages including close proximity to major rail hubs, airport, roads, water, towns and labour markets.
The U.S. imports more than 90% of its annual potash requirements, and domestic producers receive a higher sales price due to proximity to market; as of March 31st, 2023, the muriate of potash price was quoted at $453 USD per tonne (fob Vancouver) - Intrepid Potash, America's largest potash producer, reported receiving an average realized price for potash of $713 USD per ton in 2022**.
Kent Ausburn, PhD, PG, a qualified person within the meaning of NI-43-101 and a director of the Company, has reviewed and approved for the technical details of this release.
*Agapito Associates Inc. Technical report (October 2012) quantifies the Green River Potash Project's potash exploration potential in the form of a NI 43-101 Exploration Target. The Exploration Target estimate was prepared in accordance with the National Instrument 43-101 -Standards of Disclosure for Mineral Projects ("NI 43-101"). It should be noted that Exploration Targets are conceptual in nature and there has been insufficient exploration to define them as Mineral Resources, and, while reasonable potential may exist, it is uncertain whether further exploration will result in the determination of a Mineral Resource under NI 43-101. The Exploration Target stated in the Agapito Report is not being reported as part of any Mineral Resource or Mineral Reserve.
**Intrepid Potash Inc. Press Release March 6th ,2023
JonnyRBuck12
2 years ago
American Potash signs new Green River option with LiK
2023-04-17 10:01 ET - News Release
Mr. Jonathan George reports
AMERICAN POTASH SIGNS NEW OPTION AGREEMENT ON ITS GREEN RIVER POTASH AND LITHIUM PROJECT, PARADOX BASIN, UTAH
American Potash Corp. has entered into a new option agreement with LiK Resources LLC, a private Houston-based exploration company, on its Green River potash and lithium project, located in the Paradox basin in Utah.
The Option Agreement replaces the previous option agreement entered into by the Company and LiK on December 17, 2021. To earn a 70% interest in the Project, LiK must now:
make cash payments of $150,000 (USD) (received).
advance $3 million USD to the Company by April 28, 2023, to be used exclusively for permitting and drilling the first exploratory well under the supervision of a mutually agreed upon top-tier industry consultant.
complete two separate Pre-Feasibility Studies; one for lithium and one for potash, evaluating a minimum of six mineral leases or claims within the Project by December 31, 2024.
commission a valuation of the Project by an independent, mutually agreed upon third-party, to be delivered 90 days from the completion date of the Pre-Feasibility Studies; and
in the event LiK is a publicly traded company with a market capitalization of more than one hundred million dollars ($100 million USD), transfer one million dollars($1millionUSD) worth of its common shares to the Company within forty-five days of completion of the Pre-Feasibility Studies and valuation of the Project.
Following completion of the above requirements, LiK will be deemed to have earned a 70% interest in the Project. LiK may then elect to acquire the remaining 30% from the Company by making a cash payment based on the valuation, within 90 days of the date of its completion. If LiK does not elect to purchase the remaining 30%, the parties will then enter into a joint venture to further develop the Project.
The Option Agreement applies only to the Company's 11 State of Utah mineral leases and 128 Federal placer mining claims, and excludes areas subject to the Potash Permit Applications which are currently under final review by the BLM (Bureau of Land Management).
Upon receipt of the $3million USD advance referred to above, the Company intends to immediately commence discussions with select consultants to obtain quotes for managing, supervising and drilling the first exploratory well The first well which the parties have agreed to drill is referred to as Duma Point and is located approximately a half mile west of an historical oil and gas well which indicated a potash interval of 5.9 meters with a composite grade of 24% KCL from gamma-log data. Drilling is anticipated to begin within the next four months.
About the Green River Potash and Lithium Project
A NI 43-101 Technical Report by Agapito Associates Inc. states that the Green River Potash and Lithium Project hosts an Exploration Target estimated to contain 600 million to 1 billion tons of sylvinite grading between 19% to 29% KCL*.
This target was modelled utilizing gamma-log data from 33 historical oil and gas wells within and near the project area, and based on a specific stratigraphic horizon know as Cycle 5. This is one of the same horizons that Intrepid Potash Inc. (NYSE-IPI), America's largest potash company, produces from at their nearby Moab solution mine, providing strong evidence of stratigraphic continuity within this part of the Paradox Basin.
The Company holds a 100% interest in eleven State of Utah (SITLA) mineral and minerals salt leases covering over 7,000 acres, 128 Federal lithium brine placer claims covering 2,650 acres, and is in the final stages of the application process for 11 Federal (BLM) Potash Exploration permits comprised of approximately 25,000 acres.
Significantly, three of the State leases and a large area covered by the Federal (BLM) Potash Permit applications, lie within or border, an area designated for future potash and brine and processing, including energy efficient solar evaporation ponds.
Located only 20 miles northwest of Moab, Utah, the project has significant logistical advantages including close proximity to major rail hubs, airport, roads, water, towns and labour markets.
The U.S. imports more than 90% of its annual potash requirements, and domestic producers receive a higher sales price due to proximity to market; as of March 31st,2023, the muriate of potash price was quoted at $562.50 USD per tonne (fob Vancouver) - Intrepid Potash, America's largest potash producer, reported receiving an average realized price for potash of $713 USD per ton in 2022***.
Kent Ausburn, PhD, PG, a qualified person within the meaning of NI-43-101 and a director of the Company has reviewed and approved for the technical details of this release.
We seek Safe Harbor.
JonnyRBuck12
2 years ago
American Potash cancels La Escondida project option
2023-03-16 14:27 ET - News Release
Mr. Jonathan George reports
AMERICAN POTASH CANCELS LA ESCONDIDA OPTION
American Potash Corp. will not be continuing with its option agreement on the La Escondida silver project, located in Sonora, Mexico. However, it will retain a 100-per-cent interest in the surrounding 4,000-hectare La Tortuga property and continue to maintain that concession in good standing.
Although initial results from exploration programs conducted on the La Escondida project from 2020 to 2022 (which included approximately 1,800 metres of reverse circulation drilling) were very encouraging, management has decided to focus the company's resources exclusively on its Green River potash and lithium project, located in the Paradox basin in Utah.
JonnyRBuck12
2 years ago
Price: $0.09 CAD | $0.06335 USD | €0.0.057
CSE: KCL | OTC: APCOF | FRA:2P3
Common Shares: 69.8 million
Insider/Institutional Holdings: 48 million – Verified with Management
Website: https://americanpotash.com/
*Do your own due diligence before investing*
Total Assets: $1.12 Million
Total Liabilities: $64K
Current Plan – Management is in talks with numerous parties in order to create a joint venture partnership for its Potash/Lithium assets in Utah. For more information, contact: jon@americanpotash.com or 604-803-5838
Recent updates:
December 2022 Update - https://webfiles.thecse.com/American_Potash_Corp_-_Monthly_Progress_Report_December_2022.pdf?EemIfPKwgxP4gVKU6ZifSYme5NJDVPiD
In December 2022, the Company entered into promissory note agreements for gross proceeds of $120,000. The promissory notes will mature on June 30, 2023, and bear interest at a simple rate of 12% per annum. At the election of the holder, the promissory notes and accrued interest will be paid in cash or in common shares of the Company, or a combination of cash and common shares. The Company paid cash finders’ fees of $4,000. In December 2022, the Company entered into a promissory note agreement for $40,000 with Jag Holdings Ltd., a private company controlled by John A. Greig. Please refer to 13 above for further details on the promissory note.
Main asset information:
https://americanpotash.com/site/assets/files/1/americanpotash_aug_31.pdf
The Project is situated within the Paradox Basin, which hosts the nearby, long-producing and currently-active Moab solar solution mine, operated by Intrepid Potash (NYSE-IPI- ~ $45) the largest potash producer in the U.S. There, a specific stratigraphic horizon, known as Cycle 5, has been mined since 1963. This same stratigraphic horizon extends to American Potash’s project, where an Exploration Target* from 600 million to 1 billion tons of sylvinite, with an average grade ranging from 19% to 29% KCL, has been estimated in a NI-43-101 compliant technical report prepared by Agapito Associates Inc. (October 2012).
Other assets from MD&A:
Green River Potash and Lithium Project – Initial Approvals to Drill Exploratory Wells
On December 14, 2022, the Company announced that it has received initial approvals from the Utah Division of Oil Gas and Mining on applications for permits to drill exploratory wells on three of its eleven 100% owned Potash and Lithium State mineral leases which form part of the Green River Potash and Lithium Project, located within the Paradox Salt Basin, Utah. The Green River Potash and Lithium Project is made up of the Company’s Paradox Basin Potash Permit Project and Paradox Basin Brine Potash and Potash Project. Formal drill permits will be issued upon meeting reclamation bonding and any other requirements stipulated in the Company’s Notice of Intent to Conduct Exploration. The three proposed wells are spaced widely apart, providing a large area of influence to draw upon for estimating potential potash and lithium resources within this portion of the project area.
La Escondida Silver-Gold Project - Drill Program
On March 8, 2022, the Company announced results from an inaugural drill program recently completed on its La Escondida Project that began in November 2021. The drill program consisted of 16 reverse circulation (RC) holes, totaling 1,780 metres, and was designed to investigate areas where previous rock-chip sampling returned high silver and elevated gold values along portions of the exposed strike lengths of two prominent veins. Twelve holes intersected significant precious metals mineralization with seven holes reporting narrow intervals with high grade silver assays generally within wider mineralization
Paradox Basin Brine and Potash Project Option Agreement
On December 23, 2021, the Company’s wholly owned subsidiary, American Potash LLC (the "Subsidiary"), entered into an option agreement (the "Option Agreement") with LiK Resources, LLC (the "Optionee") pursuant to which the Optionee was granted the right to earn up to a 100% interest in its Utah state leases for potash and mineral salts minerals along with 128 federal placer claims recently acquired by the Subsidiary (the "Project").
Under the terms of the Option Agreement, to earn a 70% interest in the Project, the Optionee must make a cash payment of USD$150,000 within five days of the Option Agreement (paid) and complete a pre-feasibility study demonstrating the economic viability of the Project within 24 months of the date of the Option Agreement (the "Initial Option"). In the event the Optionee is a publicly traded company with a market capitalization of over USD$100 million at the time of delivering the pre-feasibility study, the Optionee must issue USD$1 million worth of its common shares to the Subsidiary within 45 days of completing the pre-feasibility.
Within 90 days of completion of the pre-feasibility study, LiK must commission and deliver a valuation on the Project performed by an independent third party (the "Valuation") to the Subsidiary. At any time following exercise of the Initial Option and within 90 days from the delivery of the Valuation, the Optionee shall have the right to acquire the remaining 30% interest in the Project by making a cash payment to the Subsidiary based on the valuation of remaining interest (the "Final Option"). In the event the Initial Option is exercised but the Final Option is not exercised, the parties will enter into a joint venture agreement to operate the Project.
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