27th Jun 2014 06:46
LONDON (Alliance News) - Acron Group Friday said it has formed a joint venture with Rio Tinto Group PLC to develop potash properties in Saskatchewan, Canada, and the next steps for the project include continuing an environmental assessment and developing a pre-feasibility study.
The joint venture holds nine potash permits covering 586,000 acres in the southern region of the district, it said. The work undertaken so far has focused on permit KP 405, known as the Albany Project, where 13 wells have been drilled, a 3-D seismic survey completed, and a 43-101 compliant resource study prepared.
"The Albany Project is a massive, high quality resource, sufficient to support a world-class potash operation for many generations within mineral leases secured by the joint venture," Acron said in a statement.
By Steve McGrath; [email protected]; @SteveMcGrath1
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