Atlas Salt (TSXV: SALT) is accelerating work on the feasibility study for its 100%-owned Great Atlantic salt project 25 km south of Stephenville, Nfld. New seismic information has been received for the high-grade, homogeneous deposit, allowing Atlas to step out drilling 500 metres toward the deep water port.
The earlier northernmost hole drilled by the company returned 335.3 metres grading 96.8% salt starting only 190 metres downhole. The top 125 metres of that intercept graded 98% salt. The new hole will be collared about 3.5 km from the port in an area where the deposit appears to thicken.
One of the issues to be addressed by the feasibility study is whether the deposit can be accessed via an inclined ramp or a shaft will have to be sunk. Upcoming drilling will attempt to answer this question.
Rowland Howe, president of Atlas (formerly Red Moon Resources) is a former manager of the Goderich salt mine in Ontario. He has a vision for the company: “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.”
The initial inferred resource for the project was made in 2016. The deposit contains 908 million tonnes grading 96.9% salt, for 880 million recoverable tonnes. Annual production will be 2 million tonnes, but the project is scalable.
View the corporate presentation posted on www.AtlasSalt.ca.
April 18, 2024
Comments
Ray Hynes
I believe, and have believed for decades that the Stephenville area has immense potential for economic growth and prosperity , with an environmentally approach, and just maybe the place to watch in the immediate future.