Raytec Metals Corp. Granted Second Exploration Permit on KP452 Potash Claimadmin
Raytec Metals Corp. is pleased to announce the receipt of its second exploration permit from the government of Saskatchewan on the Company’s KP452 Potash claim in south-central Saskatchewan.
The KP452 exploration permit grants the Company the right to explore approximately 36,113 acres of prospective potash ground. The claim is located in the south-eastern portion of Saskatchewan’s Prairie Evaporite formation, approximately 380 kilometres southeast of the company’s KP441 package of claims and lies approximately 42 kilometres southwest of the Mosaic Company-Compass Mineral Group’s K-1 and K-2 potash-salt mines. It is also located 53 kilometres west of Potash Corp. of Saskatchewan’s Rocanville potash-salt mine.
Data from the Saskatchewan Ministry of Energy and Resources indicate that EPAA KP452 is underlain by both the Belle plain and the Esterhazy potash members. The Company is currently researching if past exploratory drilling has been conducted on the claim.
“We are very pleased with the pace at which we are receiving the permits,” states Brian Thurston, President of Raytec. “At this rate, we may be able to receive all of our exploration permits by the end of the summer, giving us the ability to formulate a comprehensive potash exploration and drilling program for the fall of 2008 and into 2009.”
The company is now awaiting the receipt of exploration permits on its KP455, KP466, KP467 and KP500 claims which are contiguous with the KP441 potash claim. The company will be making announcements as each is received.
Raytec Metals Corp. is a dynamic Canadian exploration company focused on the development of nearly 250,000 acres of potash claims located in Saskatchewan, Canada — the largest producing region for potash in the world. The potash claims are located near several world-class potash mines in production since the 1960s and are directly adjacent to claims held by BHP Billiton. The company also holds iron ore projects in Ontario and uranium projects in the Athabasca Basin of Saskatchewan. Active work programs are planned for all projects in the fall of 2008.
On behalf of the Board, RAYTEC METALS CORP.
“Brian Thurston,” President
Contact: Raytec Metals Corp. Brian Thurston Email: email@example.com
Source: Raytec Metals Corp.