Mesa Exploration Acquires Potash Lease in Utah
02 Août 2011 - 4:30PM
Marketwired
Mesa Exploration Corp. (TSX VENTURE: MSA)(PINK SHEETS: MSAJF)
("Mesa") is pleased to announce that the company has acquired a 640
acre Potash Lease from the State of Utah through a competitive
lease offering. The lease will be incorporated with Mesa's Whipsaw
potash project, now totaling 18,608 acres (29 square miles). The
project lies within the Paradox Basin, a large sedimentary basin
containing 29 separate cycles of salt, potash and sediments in the
Paradox formation. Intrepid's Cane Creek potash mine, located 18
miles south of the project, extracts potash from the Paradox
formation using solution mining techniques.
A preliminary review of oil and gas well data in the Whipsaw
area shows that thick potash horizons are present. Near the faulted
axis of the Salt Valley anticline four miles west of Whipsaw, thick
potash beds were intersected in gas wells at depths between 3,300
and 4,200 feet. These appear to be the Cycle 5 and Cycle 13 Paradox
formation potash horizons. It is anticipated that both Cycle 5 and
13 persist below the Whipsaw area, and are gently dipping tabular
deposits. A qualified person as defined under NI 43-101 has not
done sufficient work to classify the historical estimate as current
mineral resources or mineral reserves. Mesa is not treating the
historical estimates as current mineral resources or mineral
reserves as defined in NI 43-101; a 43-101 report describing
Whipsaw can be found at this link:
http://www.mesaexploration.com/i/pdf/Mesa-Potash_43_101.pdf
The Whipsaw project is 2 miles south of the Union Pacific
railroad and Interstate I-70 and 3 miles east of State Highway 191
and is accessible by a series of oilfield service roads. The area
receives approximately 300 days of sunshine annually and is
suitable for solar evaporation.
About Mesa Exploration
Mesa is developing and exploring a portfolio of mineral
properties in the United States where it controls significant land
holdings. All projects are within proven mining districts with
excellent access and infrastructure. Mesa currently has 14 million
shares issued and outstanding, and no debt. For further information
please visit our website at www.MesaExploration.com.
ON BEHALF OF THE BOARD
MESA EXPLORATION CORP.
Foster Wilson, President and CEO
This news release includes certain statements that may be deemed
"forward-looking statements". All statements in this release, other
than statements of historical facts, including the likelihood of
commercial mining and possible future financings are
forward-looking statements. Although the Company believes the
expectations expressed in such forward-looking statements are based
on reasonable assumptions, such statements are not guarantees of
future performance and actual results or developments may differ
materially from those in the forward-looking statements. Factors
that could cause actual results to differ materially from those in
forward-looking statements include unsuccessful exploration
results, changes in metals prices, changes in the availability of
funding for mineral exploration, unanticipated changes in key
management personnel and general economic conditions. Mining is an
inherently risky business. Accordingly the actual events may differ
materially from those projected in the forward-looking statements.
For more information on the Company and the risks and challenges of
its business, investors should review the Company's annual filings
that are available at www.sedar.com.
The TSX Venture Exchange has neither approved nor disapproved of
the contents of this news release.
Contacts: Mesa Exploration Corp. Corporate Communications
775-824-4533 www.MesaExploration.com
Mesa Exploration (TSXV:MSA)
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