Red Moon Potash Stakes Additional Claims and Reports Historic Drill Results from Western Newfoundland
ST. JOHN'S, NEWFOUNDLAND AND LABRADOR--(Marketwired - Oct 21, 2015) - Red Moon Potash Inc. ("the Company" - "Red Moon") (TSX VENTURE:RMK) -
The Company announces that it has acquired through staking 141 mineral claims in the Bay St. George basin of Western Newfoundland as an extension of its existing salt/potash project. Based on ongoing research of historical work in the basin, the Company staked the claims to cover the St. Fintans hole drilled in 1973 and the surrounding prospective area. The St. Fintans drill results are reported in an assessment report filed by Hooker Industrial Chemicals with the Government of Newfoundland & Labrador, specifically Peacon, D.R. (1973) "Report on the St. Fintans Salt deposit" publically available at file reference NFLD 12B/2 (178) Department of Natural Resources. Though the report contains historical information and is not verifiable by a Qualified Person pursuant to National Instrument 43-101, the report and its contents appear to have been prepared under industry standards at the time. The Company is not aware of any reason to doubt their reliability or validity. The hole was drilled to a total depth of 459 metres and encountered a 143 m gross interval of mixed salt, potash and mudstone from 230 m to 373 m averaging 4.37% potassium chloride (KCl). Within that gross interval are higher grade potash zones, presented in Table 1 below. An arbitrary cut-off of 7% KCl is tabulated to demonstrate the tenor of the mineralization and is not meant to be reflective of any economic parameter.
St. Fintans is located 9 km southwest of the historic Hooker Robinsons hole (reported in news release dated January 27, 2015) and 34 km from the Captain Cook area where exploration for salt and potash has been focussed thus far. The historic drill results in the Robinson's-St. Fintans area highlights a new exploration site separate from the Captain Cook area. Both the Robinsons and St. Fintans holes intersected very thick gross potash intervals interbedded with salt and mudstone suggesting significant salt swell movement. Successful geological models used to delineate the potash deposits in the Sussex Basin of New Brunswick indicate that relatively undisturbed potash beds, with the potential for higher grades, may occur down slope of salt swells. The company is currently evaluating its existing geological and geophysical data base in this area to define drill targets consistent with this model to locate the intact potash beds presumed to be the source of the multiple potash layers in the historic holes. Preliminary planning for a drill program has commenced. Given the Company's immediate focus on the Captain Cook Salt Project NI 43-101 compliant mineral resource assessment, it is anticipated that drilling will occur in 2016 subject to financing.
| From (m) | To (m) | Thickness (m) | K (%) | Mg (%) | *K2O (%) | **KCl (%) |
| 235.61 | 236.52 | 0.91 | 7.56 | 0.06 | 9.11 | 14.42 |
| 236.52 | 237.29 | 0.76 | 5.81 | 0.09 | 7.00 | 11.08 |
| 238.05 | 238.81 | 0.76 | 3.68 | 0.10 | 4.43 | 7.02 |
| 240.49 | 241.25 | 0.76 | 5.72 | 0.04 | 6.89 | 10.91 |
| 241.25 | 242.01 | 0.76 | 5.75 | 0.06 | 6.93 | 10.96 |
| 242.62 | 243.38 | 0.76 | 4.66 | 0.05 | 5.61 | 8.89 |
| 244.14 | 244.91 | 0.76 | 4.61 | 0.03 | 5.55 | 8.79 |
| 244.91 | 245.67 | 0.76 | 6.61 | 0.12 | 7.96 | 12.60 |
| 245.67 | 246.43 | 0.76 | 4.20 | 0.46 | 5.06 | 8.01 |
| 247.95 | 248.72 | 0.76 | 4.55 | 0.08 | 5.48 | 8.68 |
| 249.63 | 250.24 | 0.61 | 5.16 | 0.07 | 6.22 | 9.84 |
| 253.29 | 254.20 | 0.91 | 3.74 | 0.11 | 4.51 | 7.13 |
| 254.20 | 254.81 | 0.61 | 4.91 | 0.11 | 5.91 | 9.36 |
| 261.82 | 262.43 | 0.61 | 3.80 | 1.15 | 4.58 | 7.25 |
| 262.43 | 263.19 | 0.76 | 5.44 | 1.24 | 6.55 | 10.37 |
| 278.89 | 279.65 | 0.76 | 4.65 | 1.65 | 5.60 | 8.87 |
| 279.65 | 280.42 | 0.76 | 4.89 | 1.70 | 5.89 | 9.32 |
| 280.42 | 281.33 | 0.91 | 5.34 | 2.92 | 6.43 | 10.18 |
| 281.94 | 282.55 | 0.61 | 4.40 | 1.51 | 5.30 | 8.39 |
| 283.46 | 284.07 | 0.61 | 3.86 | 1.76 | 4.65 | 7.36 |
| 285.60 | 286.21 | 0.61 | 6.88 | 0.45 | 8.29 | 13.12 |
| 320.95 | 321.87 | 0.91 | 5.34 | 1.66 | 6.43 | 10.18 |
| 321.87 | 322.78 | 0.91 | 5.30 | 1.60 | 6.38 | 10.11 |
| 366.83 | 367.59 | 0.76 | 5.78 | 1.20 | 6.96 | 11.02 |
| 369.11 | 369.72 | 0.61 | 4.35 | 0.86 | 5.24 | 8.30 |
| Table 1. Assay intervals greater than 7.00% KCl from the St. Fintans drillhole. All data are derived directly from the above referenced report by Hooker Industrial Chemicals. |
| * K2O is calculated using the conversion factor 1.2046 [=(molecular mass of K2O/molecular mass of K)] |
| ** KCl is calculated from%K using the conversion factor 1.9606 [=(molecular mass of KCl/molecular mass of K)] |
Patrick J. Laracy, P. Geo, President, and Patrick Collins P. Geo, Exploration Manager, are qualified persons responsible for the contents of this news release as defined in National Instrument 43-101.
Red Moon is an exploration company focused on potash/salt exploration in Western Newfoundland. Vulcan Minerals Inc. (TSX VENTURE:VUL) owns approximately 65% of the common shares of Red Moon and owns a 3% royalty on the project lands. The Company currently owns 902 mineral claims covering approximately 22,550 hectares of prospective lands for salt/potash in the Bay St. George Basin. The basin is of similar geology to the Sussex basin in New Brunswick where potash and salt are currently being mined.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This release may contain certain forward-looking statements. Actual events or results may differ from the Company's expectations. Certain risk factors beyond the Company's control may affect the actual results achieved. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except by law, the Company undertakes no obligation to publicly update or revise forward-looking information.
Shares Issued: 43,000,004
Contact
Red Moon Potash Inc.
Patrick J. Laracy
President
(709) 754-3186
(709) 754-3946
info@redmoonpotash.com
www.redmoonpotash.com
