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North Atlantic Potash Inc.

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

  • 803
    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 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)

2020

  • The updated NI 43-101 technical report for the Albany Project recorded 803.1 million tonnes of KCl in recoverable reserves, including 78.5 million tonnes in proved reserves and 724.6 million tonnes in probable reserves.
  • 2019

    • 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.
    • 2018

      • The NI 43-101 technical report covering five mineral leases recorded 229.5 million tonnes of KCl in recoverable reserves, including 23.1 million tonnes in proved reserves and 206.4 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.

      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.

      Albany Project Resources under the NI 43-101 Technical Report

      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 mineral leases, is located close to the northern boundary of the exploration and development area in 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

      Read more about North Atlantic Potash Inc. 

Contacts

Saskatoon

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

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