Holds nine mining leases and one exploration permit to develop the world’s largest potash deposit in Canada
mn trecoverable KCI reserves
mn trecoverable KCI resources
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 nine mining leases and one exploration permit at a potash deposit in Saskatchewan (Canada). The mining properties are divided into two blocks: the Albany Project (six lots) and the Foam Lake Project (four lots).
CanPacific Potash Inc. (Albany Project)
- The updated NI 43-101 Technical Report for the Albany Project recorded 793.4 million tonnes of KCl in recoverable reserves (803.1 million tonnes of equivalent MOP product), including 77.6 million tonnes in proven reserves and 715.9 million tonnes in probable reserves.
- Further exploration of the block consisting of six lots
- Following the study and public discussion of the Environmental Report, the Government of Saskatchewan issued a conditional approval for the project to proceed.
- The NI 43-101 Technical Report covering five mineral leases recorded 226.7 million tonnes of KCl in recoverable reserves (229.6 million tonnes of equivalent MOP product), including 22.9 million tonnes in proven reserves and 203.8 million tonnes in probable reserves.
- In December, 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 Albany Project’s resources were reclassified as “Measured and Indicated” and revaluated at 1.07 billion tonnes of potash salts with an average grade of 30.3 % KCl. The recoverable reserves are estimated at 226.7 million tonnes 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.
- 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.
- An extensive exploration programme was conducted for this block, which defined inferred resources of 1.4 billion tonnes potash salts with an average grade of 31 % KCl.
Albany Project Reserves under the NI 43-101 Technical Report dated April 2019
Gross in Cavern
KCl, mn t *
|Equivalent MOP product, mn t**|
* Material tonnages contained within cavern designs
** Recoverable KCl after application of recovery factors
Foam Lake Project
This block consists of four mineral leases is located close to the northern boundary of the potash exploration and development area in Saskatchewan.
The NI 43-101 compliant Technical Report on Resources and Reserves issued at the end of 2012 confirmed resources (indicated and inferred) of 942 million tonnes at a depth of 1,000-1,100 metres with an average of 30 % KCL. Recoverable KCl tonnage is estimated at 89 million tonnes. This block is suitable for construction of a conventional potash mine.
Foam Lake Resources under the NI 43-101 Technical Report dated December 2012
Potash Salt Resources,
|KCl, %||Gross KCl, mn t||Total Recoverable KCl, mn t*|
* Recoverable KCl after application of recovery factors
Read more about North Atlantic Potash Inc.