Intrepid Potash continues to Increase Potash Production as Potash Prices Continue to Rise
Anson Resources Builds on Successful Lithium Pilot at Green River with Commencement of Resource Conversion; 44% increase in LCE Grades and MOU with POSCO Holdings all Recently Announced
American Critical Minerals Corp. (“American Critical Minerals” or the“Company”) (CSE:KCLI | OTCQB:APCOF | Frankfurt:2P3) is pleased to highlight recent positive developments reported by Intrepid Potash, Inc. (NYSE: IPI) and Anson Resources Ltd. (ASX: ANS) at their respective Paradox Basin operations close to the Company’s flagship Green River Project.*
Management Commentary
Simon Clarke, President and CEO stated,“it is highly encouraging to see continuing increases in the Potash Price and to see the ongoing improvements that Intrepid Potash is implementing to optimize its operations with resulting increases in production and improved financial performance. As a near neighbor in the Paradox Basin and targeting the same potash cycles that are being produced by Intrepid at the Moab Mine utilizing latest horizontal solution mining techniques, we are highly encouraged to see strength not only in the Sector, but also in our backyard.
At the same time, Anson continues to make great progress developing and de-risking its lithium projects which could not be closer to our own Green River Project sandwiched between Anson’s two projects. It is now clear that this part of the Paradox Basin holds major amounts of contained lithium which can be successfully extracted to make battery grade lithium at potentially industry leading operating costs. We commend the work that Anson has done and continues to do quickly and efficiently, and we are pleased with our decision to lock up the lithium and bromine rights across our Project area and to ensure that we are permitted to drill for both Potash and Lithium and associated by products. While the process to secure potash permits did take several years, the evolution of the Paradox Basin as a major source of Lithium Brines over the same timeframe means we now have a Project rich in two critical minerals rather than just the original one.”
Potash In America / Recent Developments
Intrepid continues to be the only producer of Muriate of Potash (“MOP”) in the US, producing approximately 3.5% of US annual MOP Consumption. Intrepid was originally formed to acquire the potash operations in Moab in 2000 from the Potash Corporation of Saskatchewan; the Moab mine was originally built in the 1960s and has operated for over 50 years. Intrepid was the first company to utilize horizontal drilling technology commonly used in the oil and gas industry to raise and stabilize potash production at Moab, Intrepid’s first operating mine. Intrepid continues to successfully utilize Solution Mining at Moab targeting Potash Cycles 5 and 9, the same cycles being targeted by American Critical Minerals at our Green River Potash and Lithium Project in close proximity to the Moab Mine. For full details on Intrepid and the above facts see: https://www.intrepidpotash.com*
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