Further to its news release dated June 7, 2016, Vatic Ventures Corp. has commenced its Saksrithai potash exploration project in Nakon Ratchasima province, Thailand.
The first phase of the project will include an initial seismic survey of the project area and an initial drilling program. Other activities will include a community relations program, regional geological review and survey, satellite data interpretation, area mapping, a baseline environmental survey, and preliminary transportation and marketing studies.
The company has engaged Jitisak Premanee, an experienced Thai geologist with expertise in potash exploration in Thailand and Laos, as its senior geological consultant. Mr. Premanee will supervise all field programs as well as be responsible for the community information programs.
Community information program
The community information and consultation program to discuss the project implications with the local communities is already under way. The company feels that it is essential for local communities be fully appraised regarding the proposed exploration activities and invited to provide their input and support for the project. The program will continue throughout the overall exploration period.
Initial seismic survey
The initial field program, a 2-D seismic survey, will commence in early March. The program will consist of up to 50 line kilometres of seismic survey, and the contractor will be Geocon Co. Ltd., a very experienced seismic contractor with lengthy experience in potash exploration and particular knowledge of the potash deposits within the Khorat evaporite basin. Geocon has provided services to a number of potash projects in Thailand and Laos, including Asia Pacific Resources´ successful project at Udon Thani, Thailand.
The seismic survey will demonstrate the continuity of the underlying geological structure, as well as estimates of the probable depth to, and thickness of, the potash-bearing layer.
Initial drilling program
It is anticipated that the initial seismic program can be completed within a month and, based on the results, the company will finalize the scope of the initial drilling program. It is planned to complete approximately 3,000 metres of drilling, comprising 10 drill holes averaging about 300 metres deep. The drilling contractor will be Aztec Drilling Co. Ltd., one of the most experienced drilling contractors in the region. Aztec has been involved in a number of potash projects, including the Asia Pacific Resources´ project, where it drilled approximately 150 drill holes.
Saksrithai potash exploration project
As mentioned in the company´s news release of Jan. 19, 2017, the company has acquired an 80-per-cent interest in Saksrithai Development Co. Ltd., a private Thai company that is the holder of two contiguous special prospecting licences (SPLs) for potash exploration.
The project area is located in the western part of the Khorat plateau, which is underlain by a large potash-bearing evaporate basin of Cretaceous age.
The licences encompass an area of 32 square kilometres in Nakon Ratchasima province and are adjacent to Thai Kali Company´s Dan Khun Thod potash project.
Vatic´s chief executive officer, Dr. Gerry Wright, commented: "We are pleased to have commenced the first phase of the exploration activities at the Saksrithai project and look forward to starting the field programs in March. The seismic survey will provide the subsurface structural information to enable the company to finalize the scope of its initial drilling program. The completion of these field programs should enable the company to develop and preliminary resource estimate for the project."
The technical content of this release has been reviewed and approved by Dr. Gerry Wright, PEng, the company´s chief executive officer and president.