Pacific Potash has acquired a 100% interest in the Amazonas Basin Potash project in Brazil. The Company is planning a late summer exploration program on its claim block which totals 795,824 hectares. The Amazonas Potash Basin is similar in size, scale and geology to Saskatchewan’s potash evaporate deposit, which is the largest and most prolific potash reserve in the world.
Recently appointed as President and CEO of the Company. Mr. Costa is a professional geologist with over 18 years of experience working in Canada and Brazil. Mr. Costa has worked for the Saskatchewan Geological Survey, provided project management in uranium and diamond exploration, and most recently was the chief geologist for Brazil Potash a private company with operations surrounding the majority of Pacific Potash’s Claims.
Amazonas Potash Basin
- The Brazilian Government plans to reduce Brazil’s reliance on potash imports from 91% to 60% over the next 5 years
- Soils in Brazil are deficient in potassium and require potash to remain productive
- The Amazonas potash basin is similar in geology and dimension to the Saskatchewan potash basin in Canada
- Recently signed non-binding Memorandum of Understanding with CapitalAsia Investment Holdings Group sets out the initial terms and conditions for entering into a formal off-take agreement at such time as Pacific Potash’s Amazonas Potash Property goes into commercial production.
·Two deposits owned by Petrobras—Arari and Fazendinha—are located 20 and 40 km west of the property being optioned by Pacific Potash. These two deposits have reported historic resources as follows*:
Fazendinha – 520 Mt @ 28.8% KCl
Arari – 659 Mt @ 17.7% KCl
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