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North Atlantic Potash Inc.

Holds 11 mining leases and one exploration permit to develop the world’s largest potash deposit in Canada

  • 230
    mn t
    recoverable KCI reserves
    Albany Project
  • 89
    mn t
    recoverable KCI reserves
    Foam Lake Project

North Atlantic Potash Inc. (NAP, a member of Acron Group) and CanPacific Potash Inc. (a joint venture of NAP and Rio Tinto Potash Management Inc.) jointly hold 11 potash-mining leases and one exploration permit in Saskatchewan (Canada). All mining properties are divided into multiple blocks, with the most promising being the Albany Project (six permits in Southern Saskatchewan), Foam Lake Project (four permits in Northern Saskatchewan) and Stockholm Project (one permit in Northern Saskatchewan).

CanPacific Potash Inc. (Albany Project)

2018

  • In December 2018, the Company acquired one exploration permit for an area located in the closest proximity to the proposed Albany mine site, which will help reduce the development and production cost.
  • The NI 43-101 compliant Resource Report was completed (for five licence areas), which defined recoverable reserves at 229.5 mn t of KCl, including 23.1 mn t of proved reserves and 206.4 mn t of probable reserves.

2017

  • In 2017, the Albany Project’s resources were reclassified as “Measured and Indicated” and revaluated at 1.07 bn t of potash salts with an average grade of 30.3 % KCl. The recoverable reserves are estimated at 226.7 mn t of KCl. At the end of 2017, the Prefeasibility Study (which commenced in 2016) was completed. The volume of resources, KСl concentration, formation temperature and location of permits make this project one of the world’s best for solution mining.

2014

  • In 2014, NAP and Rio Tinto Potash Management Inc established a joint venture company, CanPacific Potash Inc. (formerly the Albany Project), which holds eight permits in Southern Saskatchewan.
  • 2011–2013

    • An extensive exploration programme was conducted in this block in 2011-2013. The study defined inferred resources of 1.4 bn t of potash salts with an average grade of 31 % KCl.

    KL 262 Resources Based on NI 43-101 Prefeasibility Study

    Potash Salts Resources, mn t In Cavern, mn t* KCl, % Total Recoverable KCl,
    mn t**
    6,008 1,067 30.32 229.5

    * Material tonnages contained within cavern designs

    ** Recoverable KCl after application of recovery factors

    Foam Lake Project

    This block consisting of four permits is located in Northern Saskatchewan. The NI 43-101 compliant Resource Report issued at the end of 2012 confirmed resources (indicated and inferred) of 942 mn t at a depth of 1,000-1,100 meters with an average of 30% KCL. Recoverable KCl tonnage is estimated at 89 mn t. This block is suitable for construction of a conventional potash mine.

    Foam Lake Proved (Balance) Reserves (NI 43-101)

    Potash Salts Balance
    Reserves, mn t
    KCl, % Gross KCl, mn t Total Recoverable KCl, mn t*
    Indicated 218 30.03 66 21
    Inferred 724 30.01 217 68
    Total 942 30.00 283 89

    * Recoverable KCl after application of recovery factors

    Stockholm Project

    The Stockholm Project consists of the KP 421 permit. In 2012, a short exploration programme was completed. An exploration well showed that its potash ore has a very high grade of 34 −45% KCl at a depth of 1,000-1,200 meters. KP 421 borders Mosaic Esterhazy’s operation.

    Read more about NAP 

    Contacts

    Saskatoon

    Suite 701C Midtown Tower
    201-1st Avenue South
    Saskatoon, SK Canada
    S7K 1J5

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    Phone: 306.975.0210