Athabasca Potash Inc. Has Engaged SNC-Lavalin to Provide
Pre-feasibility Study Services on the Burr Project
SASKATOON, SASKATCHEWAN--(Marketwire - January 19, 2009)
Athabasca
Potash Inc. ("Athabasca" or the "Company") (TSX:API) is
pleased to announce that it has engaged SNC-Lavalin Inc. to provide
pre-feasibility study services on the Burr Project adjacent to the PCS Lanigan Mine located 107 kilometers
east of Saskatoon, Saskatchewan.
SNC-Lavalin,
other consultants and Athabasca will each address specific elements of the
scope of the Pre-feasibility Study (the "Study").. SNC-Lavalin's services will address the surface
processing plant and infrastructure. Other consultants and Athabasca are
responsible for the environmental and other aspects of the Study to include
geology, process technology, underground mine development, resource
assessment, shaft, tailings management facilities and transportation. Based
on this work SNC-Lavalin will develop capital and operating cost estimates
with an intended accuracy of �25% and a preliminary project execution
schedule. Athabasca also intends to file a new National Instrument
43-101 - Standards of Disclosure for Mineral Projects ("NI
43-101") compliant technical report in connection with the Study. The
Study is scheduled for completion in the third quarter of 2009.
"We
are delighted that SNC-Lavalin is working with Athabasca on this important
milestone. SNC-Lavalin has been involved in the potash industry for a very
long time and has previously provided services to many potash mines in
Saskatchewan" said Dawn Zhou, the Company's President and CEO.
On
September 29, 2008, the Company announced an updated potash resource
estimate for the Burr Project prepared by AMEC Americas Limited
("AMEC"). The Lower Patience Lake Sub-Member ("LPL")
contains Indicated Mineral Resources of 241,200,000 tonnes with a grade of
23.3% K2O and an Inferred Mineral Resource of 183,100,000 tonnes with a
grade of 23.2% K2O. There is an additional Inferred Mineral Resource of
39,300,000 tonnes, with a grade of 13..2% K2O in
the Upper Patience Lake Sub-Member ("UPL"). The Indicated Mineral
Resource contains 89,000,000 tonnes of KCl and
the Inferred Mineral Resources contains 76,000,000 tonnes of KCl respectively (multiplied K2O tonnes by 1.596 KCl tonnes).
The
September 29, 2008 press release (the "Press Release") and the NI
43-101 technical report (the "Technical Report") supporting the
updated potash resource estimate are available at www.sedar.com or
www.athabascapotash..ca. Susan Lomas, P.Geo. of Lions Gate
Geological Consulting Inc, is the Qualified Person (as defined by NI
43-101) for having prepared the mineral resource estimates, and scientific
and technical information in the Technical Report and the Press Release.
Athabasca
Potash Inc. is a Canadian based corporation and was founded with a goal of
establishing itself as a pre-eminent Canadian public company engaged solely
in potash exploration and development with focus on the Company's wholly
owned Burr Project, and to provide its shareholders with a unique
investment opportunity focused entirely on potash.
Caution
Regarding Forward-Looking Information
Certain
of the statements made and information contained herein is
"forward-looking information" within the meaning of certain
securities laws. This includes statements concerning Athabasca's plans at
its mineral properties, which involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of Athabasca, or industry results, to be
materially different from any future results, performance or achievements
expressed or implied by such forward-looking information. Forward-looking
information is subject to a variety of risks and uncertainties which could
cause actual events or results to differ from those reflected in the
forward-looking information, including, without limitation, exploration
risks, lack of historic drill hole documentation, challenges or impairments
to title, the negotiation of access to certain potash mineralization,
permit requirements, governmental regulations, aboriginal land use,
environmental risks and competition in attracting and retaining personnel. In
addition, forward-looking information is based on various assumptions. Should
one or more of these risks and uncertainties materialize, or should
underlying assumptions prove incorrect, actual results may vary materially
from those described in forward-looking statements. Accordingly, readers
are advised not to place undue reliance on forward-looking information. Except
as required under applicable securities legislation, Athabasca undertakes
no obligation to publicly update or revise forward-looking information,
whether as a result of new information, future events or otherwise.
For more information, please contact:
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