Now if this is not sweet and funny. Drill results are forthcoming.
Disclosure: I hold Ethiopian Potash.
Good Luck, this looks to be a lower risk play,
Marco G.
++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
Received another update from George Roach: Present drilling is both testing of historic holes and expansion of the resource followed by conversion of a significant component of the current drilling program into indicated and measured categories.
George also reported that FED also wish to quickly start drilling Colluli in the central/eastern area of FEDs land holdings. Colluli is the area near South Boulder where there known mineralization both historically and through recent drilling by South Boulder.
That does not refer to drilling by South Boulder on their own land. Rather, South Boulder apparently did some poor mapping and hit mineralization on FEDs land. Apparently, South Boulder was using an old map to determine where the Eritrea/Ethiopia border and that map proved to be inaccurate. Thus, they moved the drills too far south and hit mineralization on FED land.
South Boulder's Sept. presentation, note p. 7-9 regarding the Colluli Project, resource and targets (Area A and B) practically crossing the border to FED's claims.
http://www.southbouldermines.com.au/images/uploads/110902_Africa_Down_Under_Presentation.pdf
GLTL
Hagai, you are correct. However, the land isn't under dispute any longer. As I wrote, the issue was South Boulder used an inaccurate border map that had since been changed. Doesn't matter what the GPS readings are under that scenario.
http://www.stockhouse.com/News/CanadianReleasesDetail.aspx?n=8282743
Disclosure: I hold Ethiopian Potash.
Good Luck, this looks to be a lower risk play,
Marco G.
++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
RE: RE: RE: Drill program
Received another update from George Roach: Present drilling is both testing of historic holes and expansion of the resource followed by conversion of a significant component of the current drilling program into indicated and measured categories.
George also reported that FED also wish to quickly start drilling Colluli in the central/eastern area of FEDs land holdings. Colluli is the area near South Boulder where there known mineralization both historically and through recent drilling by South Boulder.
That does not refer to drilling by South Boulder on their own land. Rather, South Boulder apparently did some poor mapping and hit mineralization on FEDs land. Apparently, South Boulder was using an old map to determine where the Eritrea/Ethiopia border and that map proved to be inaccurate. Thus, they moved the drills too far south and hit mineralization on FED land.
RE: RE: RE: RE: vectorcan
South Boulder's Sept. presentation, note p. 7-9 regarding the Colluli Project, resource and targets (Area A and B) practically crossing the border to FED's claims.
http://www.southbouldermines.com.au/images/uploads/110902_Africa_Down_Under_Presentation.pdf
GLTL
http://www.stockhouse.com/Bullboards/MessageDetail.aspx?s=FED&t=LIST&m=30148071&l=0&pd=2&r=0
RE: RE: RE: RE: vectorcan
Hagai, you are correct. However, the land isn't under dispute any longer. As I wrote, the issue was South Boulder used an inaccurate border map that had since been changed. Doesn't matter what the GPS readings are under that scenario.
RE: vectorcan
That's what I was told. South Boulder crossed the border and inadvertently drilled a couple of holes on FED land. As I said, there was reportedly good mineralization. STB had admitted it made a mistake.
Unusual but does happen. I have heard heard about this type of situation happening before.
Unusual but does happen. I have heard heard about this type of situation happening before.
http://www.stockhouse.com/News/CanadianReleasesDetail.aspx?n=8282743
EPC Drilling Intersects Potash Horizons on Its 481km^2 Danakil Project, Ethiopia
TORONTO, ONTARIO, Aug 22, 2011 (MARKETWIRE via COMTEX News Network) --
Ethiopian Potash Corp. (the "Company " or "EPC") (TSX VENTURE: FED)(TSX VENTURE: FED.WT) is pleased to announce that it has completed five (5) holes and drilling of Hole 6 is ongoing with total drilling through 1,000 metres to date, of the planned 15,000 metre diamond drill program on its 481km2 Danakil Project, Ethiopia.
All of the holes intersected the regional Danakil Potash Formation and all holes intersected potash mineralization.
The holes were drilled along the western edge of the Danakil and targeted the on strike continuation of the Musley potash deposit. The drill core has been logged and selected intersections have been reviewed by Ercosplan who confirmed the intersection as being part of the Regional Danakil Potash bearing sequence and that potash mineralization was observed in the drill core. The drill core has been sampled and the samples are being processed for analysis. Drilling is continuing is the southwest corner of the Property in an area of historic drilling.
Mr. Wahl President and CEO of EPC stated "I am extremely pleased with the drilling results and looks forward to receiving the assay results which will be released on receipt. Ethiopian Potash looks forward to having a steady stream of news to disseminate in the Autumn."
About Ethiopian Potash Corp.
Ethiopian Potash Corp. (TSX VENTURE: FED)(TSX VENTURE: FED.WT) is a Canadian company based in Toronto, Ontario, and Addis Ababa, Ethiopia. Ethiopian Potash controls 481 sq km of shallow mineralization potash development concessions in the fairway of the Danakil Depression, Ethiopia. The Company has an existing 128 mil tonne resource at 21% potash and is intent on aggressively fast-tracking its properties to production.
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