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Gensource ups potash resource to 261 million tonnes at Vanguard project

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Gensource ups potash resource to 261 million tonnes at Vanguard project

Gensource Potash Corp. said Jan. 3 that it has increased measured and indicated resources at its Vanguard potash project in south central Saskatchewan by 65% and 68%, respectively.

Total measured resource was pegged at 154.2 million tonnes of potash, while total indicated resource was 106.8 million tonnes of potash. The combined measured and indicated resource came in at 261 million tonnes. The company assumed 40% recovery and a K2O cutoff of 15%.

The upgrade resulted in the decrease in inferred resource to 295.5 million tonnes of potash.

In November 2018, Gensource completed a 1,591-meter drilling program at the Vanguard area to expand resources.

"The results of this drilling further confirm the quality and abundance of the potash resource in the Vanguard area, and begin to show that the Vanguard area is capable of supporting several of Gensource's small modules, consistent with the company's business plan," President and CEO Michael Ferguson said.

"We continue to advance our first module in the Vanguard area, the Vanguard project, which is anticipated to move into construction in 2019 — and now, with the completion of this drilling and analysis, we also have the basis for advancing the engineering and design of the next module," he added.