Advancing newly acquired Utah project, Sage Potash shares now listed on TSX

Mark Milam


HOUSTON (ICIS)–Canadian potash developer Sage Potash Corporation, which recently acquired a potash land portfolio in Utah consisting of over 83,000 acres of leases and prospecting permit applications, announced its common shares have commenced trading on the TSX Venture Exchange.

The company said it based on historical exploration, which includes an important discovery drill hole by a previous operator with core samples identifying two flat potash beds it has defined a mineral resource of 159.3m tonnes in the upper potash bed with a potash grade of 42.67 % with the lower potash bed at 120.2m tonnes with a grade of 35.77 %.

The resource is situated in the Paradox Basin of Utah, known to host extensive underdeveloped world-class potash resources, approximately 2bn short tons according to the government surveys, and will benefit from close proximity to modern infrastructure, low-cost power and electricity, skilled workforce and development supplies and services.

Next for Sage potash will be to complete a step out geological hole that will further define the resource estimates and may double as a possible cavern development test well, to advance preliminary engineering and preliminary economic assessment for the project.

“Given the current sanctions against Russia and Belarus, which together constitute 40% of the world’s potash supply, the US currently imports nearly all its annual potash requirements from Canada. Having its own domestic supply only makes sense for the US,” said Peter Hogendoorn, Sage Potash CEO.

“Reliable and local supply chains are key to achieving national food security in this post-COVID and inflationary era. Even with what appears to be a somewhat more rational market this year over last, shipping costs from Saskatchewan and lower barge capacity due to low water levels of the Mississippi River, can still add $150 – $225/ton that would not be incurred by having local production.”


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