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Favorable Seismic Data Prepares Atlas Salt For Great Atlantic Drilling

15.10.2021 | 17:00 Uhr | GlobeNewswire
ST. JOHN'S, Oct. 15, 2021 - Atlas Salt (the "Company" or "Atlas" - TSXV: SALT) is pleased to report that as its Great Atlantic Feasibility Study accelerates into a new phase, seismic data for the project has favorably impacted the strategy for upcoming drilling which will help determine mining methodology.

Highlights:

  • Based on seismic information for the homogeneous and high-grade Great Atlantic deposit, the drill program will step out 500 meters toward the deep water port from the existing northernmost hole (CC-4) drilled by the Company which returned 335.3 meters grading 96.8% salt starting only 190 meters downhole. The top 125 meters of that intercept graded 98% salt (NI-43-101 Apex Resource Estimate Report, 2016). The new step-out hole will be collared approximately 3.5 km from the port in an area where seismic data suggests that the deposit thickens;
  • One of the key issues being addressed by the Feasibility Study is whether the deposit can be accessed via an inclined ramp or a vertical shaft. Ramp access is anticipated to require less capital and operating costs while providing infrastructure efficiencies. Upcoming drilling will assist with this determination;
  • Full permitting has been received from the Newfoundland and Labrador Government for the Atlas drill program designed to acquire geotechnical data and further delineate the deposit.

Mr. Rowland Howe, President of Atlas, commented: "Having managed Goderich into the largest underground salt mine in the world, and after six months of guiding this project, I'm more confident than ever in describing Great Atlantic as a very advantaged asset. This deposit has all the right attributes, including the necessary infrastructure surrounding it, in one of the best locations in the world for mining.

"We envision an environmentally friendly 'salt factory' with straightforward, chemical-free processing using state-of-the-art technology given the apparent predictable homogeneous nature of this deposit," Mr. Howe continued. "The core from the northernmost hole is exceptional in grade and consistency and we look forward to following up on this result shortly.

"We are into a very active period for Atlas Salt with plenty of news flow this quarter. Security of supply issues in the large eastern North America road salt market highlight the importance of Great Atlantic, strategically located in the middle of this market."

PRmediaNow Interview With Rowland Howe

"A massive amount of salt at very high grade": Atlas Salt President Rowland Howe discusses this news release with PRmediaNow's Cyndi Edwards - click on the link below to view.

Rowland Howe Interview

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b85c5b00-01d8-4972-b768-3cfa28570840

Qualified Person

Patrick J. Laracy, P.Geo, and CEO is the Qualified Person responsible for the technical contents of this news release as defined in National Instrument 43-101.

About Atlas Salt

Bringing the Power of SALT to Investors: Atlas Salt owns 100% of the Great Atlantic salt deposit strategically located near a port in western Newfoundland in the middle of the robust eastern North America road salt market. The project features a large homogeneous high-grade resource. Atlas also owns the Fischell's Brook Salt Dome with plans to spin out that asset into a separate company as a potential renewable energy storage opportunity.

We seek Safe Harbor.

For information, please contact:
Patrick J. Laracy, CEO MarketSmart Communications Inc.
(709) 754-3186 Adrian Sydenham
laracy@atlassalt.ca Toll-free: 1-877-261-4466
AtlasSalt.ca Email: info@marketsmart.ca

Not for release in the United States or to U.S. newswire services

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.

 
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