VANCOUVER, BRITISH COLUMBIA–(Marketwired – March 16, 2017) – Vatic Ventures Corp. (NEX BOARD:VCV.H) (the Company) is pleased to announce that it has now commenced the first phase of its exploration and development project for the Saksrithai potash project in Thailand: a 2-D seismic survey of the license area.
The seismic programme is designed to demonstrate the continuity of the underlying geological structure and provide information regarding the depth to, and thickness of, the potash-bearing layer. The programme will consist of up to 40 line-kilometres of seismic survey.
The seismic contractor, Geocon Co. Ltd. (Geocon), has mobilised its crew and equipment to the project area and has completed a 1km test line to demonstrate the depth to the target horizons and determine the optimum geophone spacing for the survey.
Geocon is a well-qualified seismic contractor with some 30 years in potash exploration, with particular knowledge of the potash deposits within the Khorat evaporite basin where the Company’s Sakarithai project is situated. Geocon has provided services to a number of potash projects in Thailand and Laos, including Asia Pacific Resources’ successful project at Udon Thani, Thailand.
Dr. Gerry Wright, the Company’s CEO, commented “We are excited to commence the exploration of the Saksrithai potash project. The seismic survey will enhance our technical knowledge of the project area and facilitate planning for the initial drilling programme for the project”.
About Saksrithai Development Co. Ltd: Saksrithai Development Co. Ltd. (Saksrithai), is a private Thai company which is the holder of two contiguous Special Prospecting Licences (SPLs) for potash exploration, issued in 2015. The licenses encompass an area of 32 km2 in Nakon Ratchasima province, northeast Thailand and are adjacent to Thai Kali Company’s Dan Khun Thod potash mine which is currently under construction.
The Company’s 80% shareholding in Saksrithai has now been registered with the Thai Ministry of Commerce. Vatic is entitled to nominate four of the five Directors of Saksrithai and Dr. Gerry Wright acts as Saksrithai’s Managing Director.
ON BEHALF OF THE BOARD OF DIRECTORS
Dr. Gerry Wright, CEO and Director.
“Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.” The information contained herein contains “forward-looking statements” within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be “forward-looking statements.” Forward-looking statements are subject to a variety of risks and uncertainties that could cause actual events or results to differ from those reflected in the forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company’s expectations or projections.
