Korelin Economics Report

News from Passport Potash

Here is news put out just a couple of hours ago from Passport Potash:

 

Passport Potash Continues to Intercept Strong Potash Mineralization in 2012 Expansion and Infill Drill Program

 

VANCOUVER, BRITISH COLUMBIA–(Marketwire – August 1, 2012) – Passport Potash, Inc. (TSX VENTURE:PPI)(OTCQX:PPRTF) is pleased to report drill results on 4 additional holes of its 2012 Drill Campaign. All holes drilled intercepted strong potash mineralization and the results will be included in the updated resource estimate.

The analytical results received were for Holes 12-05, 12-06, 12-14 and 12-24. Holes 12-05, 12-06 and 12-24 are part of the expansion and infill drill program designed to expand the NI 43-101 Technical Report prepared by ERCOSPLAN.  Hole 12-14 was drilled on the recently acquired Fitzgerald Trust Ranch, is the first exploratory hole undertaken by Passport on that property, and is important as no mineral resource had been previously determined or estimated for the area.   Hole 12-14 is strategic as it is located between the Twin Buttes Ranch and Passport’s southern land package, so as to bridge the two areas, and the results show that potash trends throughout the area with significant thickness and KCl grade.

The results for Holes 12-05, 12-06, 12-14 and 12-24 are listed in the Table below. Drill intercepts are believed to represent true thicknesses, as the holes were drilled vertically and the potash beds are essentially flat lying.

Hole ID           From(ft)           To(ft)          Thickness (ft)    Thickness(m)       %K2O             %KCL

1205                1086                1092.5                  6.5                   1.98            12.27               19.42

Including         1089                1090.5                  1.5                   0.45            25.53               40.42

1206                1109                1114                     5                      1.52            11.16               17.66

Including         1112                1113                     1                      0.30            21.35               33.80

1214                1056                1062.5                  6.5                   1.98            11.54               18.26

Including         1060                1061.5                  1.5                   0.45            26.33               41.69

1224                1143.5             1149.5                  6                      1.83            9.13                 14.44

1224                1153.5             1158.5                  5                      1.52            9.03                 14.30

Including         1153.5             1154.5                  1                      0.30            14.71   .           23.29

To view location of the reported 4 drill holes click here: (http://passportpotash.com/pdf/map.jpg)

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