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July 23, 2014 11:11 ET
Red Moon Potash-Drilling Update
ST. JOHN'S, NEWFOUNDLAND AND LABRADOR--(Marketwired - July 23, 2014) -
Red Moon Potash Inc. ("the Company" - "Red Moon") (TSX VENTURE:RMK)
announces that it has successfully completed the first of two holes at
its Captain Cook salt/potash exploration program in Western
Newfoundland. CC #4 was drilled to a total depth of 536 metres and
encountered a gross interval of 345 metres of salt (halite) containing a
potash zone of approximately 10 metres in thickness. The potash zone
consists of an intercalated mixture of mudstone, salt and potash similar
to the zone encountered in CC #2. The CC #4 drill results confirm the
interpretation that the location is situated on a salt swell, an area of
thickened salt caused by salt movement. The quality of the salt is
visually similar to that observed in the CC #1 and CC #2 holes, located
1000 and 500 metres to the southwest respectively, where significant
widths of high grade salt were encountered. Representative samples of
the core will be assayed upon completion of the drill program. The drill
rig has moved to CC #5 which is located 1000 metres east of and down
dip of CC #1 and will represent the first delineation hole to step out
in this direction. The purpose of the hole is to further delineate the
salt deposit and to penetrate the potash at a greater depth. Drill
location maps are available at the company's website www.redmoonpotash.com.
The Captain Cook salt/potash project is located in the Bay St. George Basin of Western Newfoundland near deep water ports and an airport. The Trans-Canada highway and high voltage electrical power lines cross the property. The project is delineating an evaporite package of rocks analogous to the geology containing the potash/salt mines in the Sussex basin of New Brunswick. Patrick Laracy, P. Geo, President and Corwin Northcott, P. Geo, Exploration Manager are qualified persons responsible for the contents of this news release as defined in National Instrument 43-101.
Red Moon owns a 100% working interest subject to a 3% royalty to its parent company, Vulcan Minerals Inc. (TSX VENTURE:VUL). Vulcan is providing project management services to Red Moon, capitalizing on Vulcan's drilling experience in the region.
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.
The Captain Cook salt/potash project is located in the Bay St. George Basin of Western Newfoundland near deep water ports and an airport. The Trans-Canada highway and high voltage electrical power lines cross the property. The project is delineating an evaporite package of rocks analogous to the geology containing the potash/salt mines in the Sussex basin of New Brunswick. Patrick Laracy, P. Geo, President and Corwin Northcott, P. Geo, Exploration Manager are qualified persons responsible for the contents of this news release as defined in National Instrument 43-101.
Red Moon owns a 100% working interest subject to a 3% royalty to its parent company, Vulcan Minerals Inc. (TSX VENTURE:VUL). Vulcan is providing project management services to Red Moon, capitalizing on Vulcan's drilling experience in the region.
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.
Contact Information
Red Moon Potash Inc.
Patrick J. Laracy LL.B, P. Geo.
President
info@redmoonpotash.com
www.redmoonpotash.com
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