Athabasca Potash Inc. ("API" or the "Company") (TSX:API) is pleased to announce
an updated National Instrument 43-101 - Standards of Disclosure for Mineral
Projects ("NI 43-101") compliant potash resource estimate for the Burr Project
prepared by Lions Gate Geological Consulting Inc. ("LGGC"). The targeted mining
members, including both the Upper Patience Lake ("UPL") and Lower Patience Lake
("LPL") Sub-Members, contain Measured Mineral Resources of 125,800,000 tonnes at
a grade of 21.27% potassium oxide ("K2O"), Indicated Mineral Resources of
299,000,000 tonnes at a grade of 23.07 % K2O, and Inferred Mineral Resources of
186,900,000 tonnes at a grade of 23.55% K2O. The updated resource estimate has
an effective date of May 22, 2009.


The updated resource estimate is based on 17 potash test wells, including new
assay results from three test wells - Burr08-13-19, Burr08-01-32 and
Burr08-09-34 - that were not included in the mineral resource estimate announced
on September 29, 2008. New assay results were also used for two test wells
included in the 2008 resource estimate, Burr08-04-23 and Burr08-16-36. In the
2008 mineral resource estimate, equivalent or eK2O results were used for these
test wells. The assay results received to date for the 2008 test well core
samples have corroborated the eK2O results used in the 2008 mineral resource
estimate. API was given permission by the Saskatchewan government to sample some
previously unsampled core in the historical drill hole Burr-04-14. The assay
results returned high grade potash mineralization that increased the thickness
of the potash intersection in this test well and has been included in the
updated resource estimate.


The confidence level and sufficient tonnage of the Measured and Indicated
Mineral Resource of 424,800,000 tonnes in the Burr Project is sufficient to
support API's Pre-feasibility Study (the "Pre-feasibility Study") being led by
SNC-Lavalin Inc. The Pre-feasibility Study is expected to be completed in the
third quarter of 2009. A new NI 43-101 compliant technical report will be
prepared by SNC-Lavalin Inc. upon completion of the Pre-feasibility Study.

"This resource update confirms management's assumptions and validates the
potential development of the Burr Project as a potential low operating cost
conventional potash mine" states Dawn Zhou, President and Chief Executive
Officer.




Polygonal Resource Tabulation for the Burr Project 2009 Mineral Resource 
Update

(Tonnages are Net of Deductions for Freehold Lands, Identified Collapse
Structures and a 35% Extraction Ratio, May 22, 2009)

----------------------------------------------------------------------------
                       Tonnes     K2O(1)     MgO   Carnallite   H2O Insol(1)
                           (t)       (%)      (%)          (%)           (%)
----------------------------------------------------------------------------

LPL Measured      125,800,000     21.27     0.07         0.51          5.67
LPL Indicated     191,000,000     24.28     0.08         0.54          5.94
LPL M&I           316,800,000     23.09     0.08         0.53          5.83
LPL Inferred      117,500,000     23.97     0.08         0.52          5.75 
----------------------------------------------------------------------------

UPL Indicated     108,000,000     20.93     0.08         0.53          6.55 
UPL Inferred       69,400,000     22.84     0.08         0.53          6.25 
----------------------------------------------------------------------------

Total Measured    125,800,000     21.27     0.07         0.51          5.67 
Total Indicated   299,000,000     23.07     0.07         0.45          5.48 
Total M&I         424,800,000     22.54     0.07         0.47          5.28 
Total Inferred    186,900,000     23.55     0.07         0.49          5.07 
----------------------------------------------------------------------------
(1) The summary value at the bottom of this column is inclusive of the eK2O
    and eInsol values.



The resource estimate was built using a polygonal method in GEMS(R) software
using the same criteria as was used in the 2008 resource estimate. The
classification protocols were changed to include Measured Mineral Resources
within the 3D Seismic study area. For the LPL potash horizons within the 3D
seismic area, a 1.5 kilometre radius was applied for the Measured Mineral
Resource polygons, a 2.0 kilometre radius for the Indicated Mineral Resource
polygons and a 3.0 kilometre radius for the Inferred Mineral Resource polygons.
For the LPL potash horizon outside of the 3D seismic survey a 1.5 kilometre
radius was applied for the Indicated Mineral Resource polygons and a 3.0
kilometre radius for the Inferred Mineral Resource polygons. For the UPL potash
horizon a 1.5 kilometre radius was applied for the Indicated Mineral Resource
polygons and a 3.0 kilometre radius for the Inferred Mineral Resource polygons.
The outer perimeter of the 1.5 kilometre and 2.0 kilometre radius polygons was
used to define areas of mineralization classified as Measured or Indicated
Mineral Resources. This eliminated gaps between polygons that were too small to
warrant drilling a new hole where the confidence in the grade and physical
continuity of the potash horizons was good. The polygons in the area between
potash test wells Burr07-09-29, Burr08-01-34, Burr08-04-23 and Casey-01 were
extended the longest distance, 2.22 kilometres.


The limits of all polygons used in the resource estimate were restricted to the
boundary of the Burr Project. Freehold mineral rights not currently in the
possession of API were deducted from the polygonal areas and a 35% mineable
extraction rate was applied to account for materials lost due to mine pillars
and allowance for salt replacement, small collapse areas and carnallite.
Additional deductions were made for collapse anomalies identified from the 2007
3D seismic survey. A density factor of 2.08 was used to estimate tonnages for
each of the polygons. The deposit is assumed to be mined using conventional
underground methods and processed into saleable products using technology
similar to that currently in use at nearby potash mines.


Due to uncertainty associated with Inferred Mineral Resources, additional
exploration work on the property may or may not succeed in upgrading the
Inferred Mineral Resource to an Indicated or Measured Mineral Resource. Because
confidence in the Inferred Mineral Resource estimate is insufficient to allow
the meaningful application of technical and economic parameters or to enable an
evaluation of economic viability worthy of public disclosure, the Inferred
Mineral Resource must be excluded from estimates forming the basis of
feasibility or other economic studies. The UPL member was included in the
resource estimate in the north-west corner of the resource area due to the
presence of carnallite in the LPL in Burr07-13-21, Burr08-01-32 and Burr08-13-19
and very low grade found in the LPL in Burr07-13-23. The UPL intersections in
the other potash test wells on the property are above minimum grade and
thickness in most areas of the LPL mineral resource. API has concluded that the
LPL is the target horizon in these areas for any future mine planning. The UPL
is considered a viable alternative mining horizon if there are areas where the
LPL is not mineable locally, which is a method of mining similar to that
currently in use at nearby potash mines.


The potash wells have all encountered stable overlying rocks which are an
important consideration for reasonable prospects of economic extraction. The
geological setting and favourable mineralization shown at the Burr Project are
consistent with characteristics of existing Saskatchewan potash mines.


The results from three test wells included in this resource estimate were based
on eK2O values. Drill core from Burr08-04-23 and Burr08-16-36 is being used for
geomechanical testing and will be submitted to the Saskatchewan Research Council
Laboratory in Saskatchewan ("SRC") for analysis as soon as the study work is
completed. The eK2O value was used for Burr07-13-23 for the UPL intersection in
place of the assay results after LGGC reviewed the drill core and the log data
and determined that the log data in this case is more reliable due to the local
anomalous feature intersected in Burr07-13-23. The log data samples a larger
area than the assayed samples. The assay results for the UPL in the test well
Burr07-13-23 returned 8.99% K2O over 2.85 m, whereas the log data returned 11.7%
eK2O over 3.60 m and is considered more reliable.




Assay Results for Burr-04-14 and the 2008 Potash Test Well Intersections 
Included in the Burr Project 2009 Mineral Resource Update

----------------------------------------------------------------------------
               From     To Width   eK2O   K2O    MgO  Carnallite      Water 
                                        Total                     Insoluble 
                  m      m     m   wt %  wt %   wt %        wt %       wt %
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Upper Patience Lake Sub-Member
Burr08-13-19 939.39 946.01  6.62        22.05   0.08        0.56       6.51 
Burr
 08-01-32    927.92 934.25  6.33        25.20   0.06        0.43       5.47

Lower Patience Lake Sub-Member
Burr-04-14   957.41 964.08  6.67        19.70   0.05        0.32       3.17
Burr08-01-34 931.56 936.24  4.68        28.01   0.08        0.54       5.01
Burr08-04-23 940.30 945.30  5.00   24.3 Assay Results Pending           7.6
Burr08-16-32 945.97 950.15  4.18        24.63   0.11        0.74       6.39
Burr08-16-36 939.40 943.60  4.20   22.8 Assay Results Pending           6.3
Burr08-09-34 940.95 945.11  4.16        23.61   0.08        0.55       4.46

----------------------------------------------------------------------------



Susan Lomas, P.Geo. of LGGC, is the Qualified Person (as defined by NI 43-101)
for having prepared the mineral resource estimates, and scientific and technical
information in this press release and has reviewed the results reported herein.
Details regarding the 2008 mineral resource estimate and the three 2008 test
wells not included in the 2008 resource estimate are documented in the technical
report entitled NI 43-101 Technical Report for a Resource Estimation on the Burr
Project, Athabasca Potash Inc., Saskatchewan, Canada, with an effective date of
September 18, 2008 (the "Technical Report"). New assay results included in this
updated resource estimate were assayed at SRC and verified by Ms. Lomas. The
sampling and analytical procedures, QAQC program and sampling for new assay
results are the same as those used for the 2007 assay results as described in
the Technical Report. The Technical Report as well as a number of press releases
related to the Burr Project exploration program, the Environmental Impact
Studies currently being undertaken at the Burr Project and the Pre-feasibility
Study are available at www.sedar.com or www.athabascapotash.ca.


About Athabasca Potash Inc.

API 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 in Saskatchewan, and to provide its shareholders with a unique
investment opportunity focused entirely on potash.


Caution Regarding Forward-Looking Information

This press release contains forward-looking information within the meaning of
applicable Canadian securities legislation. Such forward-looking information
includes, but is not limited to, statements with respect to estimated Mineral
Resources at the Burr Project, the filing of a new NI 43-101 compliant technical
report for the Burr Project and the completion of the Pre-feasibility Study.
Forward-looking information involves known and unknown risks, uncertainties and
other factors which may cause actual results, performance or achievements of
API, or industry results, to be materially different from any future results,
performance or achievements expressed or implied by such forward-looking
information. Such factors include, among others, 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, the
forward-looking information contained in this press release is based upon what
management believes to be reasonable assumptions, including, but not limited to,
assumptions regarding the mining and processing methods to be used in connection
with any future development at the Burr Project, mining and processing costs,
transport costs, minimum mining widths, metallurgical recovery rates, the long
term price of potash, the bulk density of potash mineralization and the
estimated extraction ratio. 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 the forward-looking information
contained herein. Accordingly, readers are advised not to place undue reliance
on forward-looking information. Except as required under applicable securities
legislation, API undertakes no obligation to publicly update or revise
forward-looking information, whether as a result of new information, future
events or otherwise.
Upland Global Corp. (TSXV:UPL)
Historical Stock Chart
Von Mai 2024 bis Jun 2024 Click Here for more Upland Global Corp. Charts.
Upland Global Corp. (TSXV:UPL)
Historical Stock Chart
Von Jun 2023 bis Jun 2024 Click Here for more Upland Global Corp. Charts.