HOUSTON (ICIS)--Acron Group, through its subsidiary North Atlantic Potash (NAP), and the Rio Tinto Group announced on Thursday the two were going to utilise their joint venture company to further develop the Albany Potash prospect site in Saskatchewan.
In December 2013 North Atlantic Potash announced it had delineated a potash resource on the joint venture's potash permit in southern Saskatchewan. Rio Tinto's 2013 annual report lists the property as a Tier 1 discovery with encouraging potash grades and thickness.
The joint venture currently holds nine potash permits in the southern region of the district. The work undertaken to this point has focused on getting permits and the completion of a drilling and seismic surveying campaigns as well as the preparation of a resource study.
The Albany Project area contains an inferred resource of 1.4bn tonnes with a total recoverable amount estimated at 329m tonnes. Officials said the deposit will be developed using a solution cavern mining design.
The joint venture is working to finalise the project’s environmental assessment and commence efforts towards the pre-feasibility study.