Atlas Salt Inc. reports that the company’s Great Atlantic Feasibility Study has reached a new phase. The seismic data for the project has contributed to the strategy for upcoming drilling, which will enable the mining methodology to be identified.
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Highlights
- The seismic data for the homogeneous and high-grade Great Atlantic deposit has allowed the drilling project to extend 500 m toward the deepwater port from the current northernmost hole (CC-4) that the company drilled and returned 335.3 m grading 96.8% salt starting only 190 m downhole. The top 125 meters of the region intercept graded 98% salt. The new step-out hole will roughly get collared at 3.5 km from the port in an area where the deposit thickens, as reported in the seismic data.
- An important challenge that is addressed by the feasibility study is regarding the possible access to the deposit, either by an inclined map or a vertical shaft. Less capital and operating cost will be incurred by the ramp access mode, with desired infrastructure efficiency. The anticipated drilling will assist with this determination.
- The Newfoundland and Labrador Government has provided complete permission for the Atlas drill program developed to acquire geotechnical data and further delineate the deposit.
Having managed Goderich into the largest underground salt mine in the world, and after six months of guiding this project, I’m more confident than ever in describing Great Atlantic as a very advantaged asset. This deposit has all the right attributes, including the necessary infrastructure surrounding it, in one of the best locations in the world for mining.
Mr Rowland Howe, President, Atlas Salt Inc.
“We envision an environmentally friendly ‘salt factory’ with straightforward, chemical-free processing using state-of-the-art technology given the apparent predictable homogeneous nature of this deposit. The core from the northernmost hole is exceptional in grade and consistency and we look forward to following up on this result shortly,” added Mr Howe.
We are into a very active period for Atlas Salt with plenty of news flow this quarter. Security of supply issues in the large eastern North America road salt market highlight the importance of Great Atlantic, strategically located in the middle of this market.
Mr Rowland Howe, President, Atlas Salt Inc.
Qualified Person
The individuals responsible for the technical content in this new release are Patrick J. Laracy, P.Geo, and the CEO, as defined in the National Instruments 43-101.