NEWFOUNDLAND – SPROTT RESOURCE CORP. of Toronto has formed a joint venture with ALTIUS MINERALS of St. John’s to explore for potash in the St. George’s Basin in the southwest part of the province. Sprott may earn up to a 60% interest, and 40% will belong to Altius.
The St. George’s Basin is geologically analogous to the Moncton Sub-basin in New Brunswick. Potash occurs in Carboniferous salt deposits, the flanks of which will be the target of future investigation.
A short description of the St. George’s potash project is available at www.AltiusMinerals.com.