Patrick J. Laracy, company president, said 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 what’s known as the Captain Cook area at depths less than 400 metres with encouraging grades.
It is planned to step out from that discovery hole to better understand the potash distribution in this area.
Laracy said 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, N.B. mine operated by Potash Corporation of Saskatchewan.
Laracy said company representatives are currently attending the Prospectors and Developers Association of Canada 2013 conference and exhibition in Toronto (March 3-6). For further information about Red Moon Potash, visit their new website at www.redmoonpotash.com.