ST. JOHN’S, Newfoundland and Labrador, Jan. 11, 2023 (GLOBE NEWSWIRE) — Atlas Salt (the “Company” or “Atlas” – TSXV: SALT; OTCQB: REMRF), 100% owner of North America’s premier undeveloped high-grade salt project, has intersected a thick bed of salt in the easternmost drill hole at Great Atlantic.
Drill hole CC-9 cut a gross interval of salt over 333 meters (1,092 feet) starting from a depth of 243 meters. The drill hole was collared 250 meters east of CC-4 and is anticipated to be the last drill hole for resource classification purposes subject to final analytical results pursuant to the ongoing Feasibility Study.
Mr. Rowland Howe, Atlas President, commented: “This step-out drill hole adds an exclamation mark to the work completed to date and further demonstrates the scale of this massive homogeneous deposit that begins at unusually shallow depths compared to operating underground mines in the sector. Great Atlantic has extraordinary advantages, all the attributes to become a state-of-the-art ‘Salt Factory’ and a disruptive asset in the heart of the eastern North America road salt market.”
Preliminary Economic Assessment
SLR Consulting (Canada) Ltd. (SLR) has advised Atlas that it is on track to provide the results of a Preliminary Economic Assessment (PEA) of the Great Atlantic Project during the second half of January, 2023. This independent economic assessment is a prelude to the Feasibility Study and will describe the current economic valuation for the project subject to refinement in the final Feasibility Study expected during this first half of 2023.
New Atlas Website
Atlas Salt is pleased to unveil its new corporate website, www.AtlasSalt.com, with a clean, crisp, modern look optimized for a mobile user experience designed with SEO best practices in mind. The new website will assist the company’s upcoming campaign to introduce the Atlas story to international investors.
Click on the following link to view the company’s latest corporate video:
Interview With Rowland Howe
“Why shouldn’t it become the biggest and best underground salt mine in the world?”: Atlas Salt President Rowland Howe discusses Great Atlantic – click on the link below to view.
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 in western Newfoundland in the middle of the robust eastern North America road salt market. The project features a large homogeneous high-grade resource located immediately next to a deep water port. Atlas is also the largest shareholder in Triple Point Resources as it pursues development of the Fischell’s Brook Salt Dome in the heart of an emerging Clean Energy Hub on the west coast of Newfoundland.
We seek Safe Harbor.
For information, please contact:
Patrick J. Laracy, CEO
Email: [email protected]
MarketSmart Communications Inc.
Email: [email protected]
Certain information contained herein constitutes forward-looking information or statements (“forward looking statements”) under applicable securities legislation and rules. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “will be”, or variations of such words and phrases or statements that certain actions, events or results “will” occur. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements do not guarantee future performance and actual results or developments may differ materially from those in forward-looking statements. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.
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A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/7edbecd6-3e78-4772-a38e-c9bd1ac71712