Mr. Joshua Bleak reports
PASSPORT POTASH CONTINUES TO ENCOUNTER EXCELLENT DRILL RESULTS IN 2012 EXPLORATION PROGRAM
Passport Potash Inc. has received additional analytical results from three holes drilled and cored as part of its 2012 drilling program. Analyses completed at the Saskatchewan Research Council Laboratories in Saskatoon, Canada, returned uninterrupted intercepts of 8.5 feet of 17.52 per cent potassium chloride (KCl) from drill hole 1211, 18 feet of 12.78 per cent KCl from drill hole 1221 and 13 feet of 12.98 per cent KCl from drill hole 1222. Drill intercepts are believed to represent true thicknesses, as the wells were drilled vertically and the potash beds are essentially flat lying.
ADDITIONAL RESULTS FROM HOLBROOK
From To Thickness Thickness
Hole ID (ft) (ft) (ft) (m) K2O (%) KCl (%) MgO (%)
1211 1021.5 1030 8.5 2.59 11.07 17.52 1.49
incl. 1024 1028.5 4.5 1.37 15.92 25.21 1.86
incl. 1025 1026.5 1.5 0.46 28.3 44.8 1.21
1221 1056 1074 18 5.49 8.07 12.78 1.17
incl. 1056 1057.5 1.5 0.46 25.3 40.05 0.26
incl. 1069 1074 5 1.52 9.03 14.29 3.00
1222 1120 1133 13 3.96 8.2 12.98 2.13
incl. 1123 1125 2 0.61 13 20.58 2.39
incl. 1128.5 1129.5 1 0.3 17.4 27.54 2.23
Potassium minerals present in the Holbrook basin are mainly sylvite, subordinately carnallite and minor amounts of polyhalite.
Holes 1211, 1221 and 1222 are part of the continuing expansion and infill drilling program designed to expand the recently released resource as defined in the National Instrument 43-101 technical report prepared by ERCOSPLAN. The primary objectives of the current drilling program are to increase the overall number of drill holes to be included in a future resource calculation and to decrease the spacing between existing drill holes. These actions will lead to an increased level of confidence that the potash mineralization is continuous and to the potential expansion of the future resource calculation.
Passport president and chief executiev officer Joshua Bleak commented: "We continue to be excited about the results of our current drill program. These results will be included in the updated resource coming out this quarter and in the preliminary economic assessment coming out by the end of the year. We are extraordinarily encouraged about the thickness of the potash beds in these holes as well as the average grades. This new drilling helps connect our sections in the south with our sections on the west and is giving us a clearer picture of the potash deposition."
About the Holbrook potash project
Passport is a Toronto Stock Exchange-listed resource company engaged in the exploration and development of advanced potash properties. Passport has acquired a strategic position in the Holbrook basin with landholdings encompassing over 122,000 acres. In addition, Passport has a co-operative agreement with the Hopi tribe, allowing the company to access and conduct certain exploration activities on an additional 12,853 acres of privately held Hopi land (not reservation), while allowing the tribe to share in the study results. For more information regarding the Holbrook basin, please visit the company's website.
Quality assurance and quality control
The standard operating and quality assurance procedures followed by Passport employees have been instituted to make sure that all sampling techniques and results meet international reporting standards. Coring starts when the first significant gypsum interval (upper Supai formation) is intersected. Information about the drill holes and the on-site core descriptions are conducted according to international standards (depth intervals, recovery percentage, lithology, structure, alteration, rock type, weathered profile, sample intervals, remarks). On-site field geologists collect the cuttings, bag and label them, and place a small subsample into a chip tray for further treatment. Directly after being retrieved, the cores are measured, cleaned, filed, logged, packed in plastic poly sheeting, and placed into sequentially numbered and labelled core boxes. Material is temporarily stored prior to transfer to the core facility in Apache Junction, Ariz., where significant intervals are dry cut in half. Half-core samples are then bagged and carefully packed into boxes, and shipped to the Saskatchewan Research Council in Saskatoon.
Passport is utilizing SRC's potash inductively coupled plasma (ICP) analysis package designed for multielement analyses of potash samples. SRC includes blanks, duplicates and their internal potash 003/004 standards in the analyses. SRC's analytical procedures have been more fully detailed in the NI 43-101 technical report, dated March 30, 2012, prepared for Passport by ERCOSPLAN Ingenieurgesellschaft Geotechnik un Bergbau mbH. SRC is an International Organization for Standardization/International Electrotechnical Commission 17025:2005-certified facility.
Tim Henneberry, PGeo, adviser and a qualified person as defined in NI 43-101, has reviewed and approved the technical content of this news release.
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