Buffalo Potash Corporation (TSXV: BUFF) (the “Company” or “Buffalo”) announces that it has initiated drilling the first confirmation hole 7-10-20-23 W2 (the “7-10 Well”) on its flagship Disley Project (the “Disley Project”) in Saskatchewan. Drilling of this well marks the commencement of Buffalo’s planned drilling program and the first step in the Company’s initial phase of work (the “Confirmation Phase”), during which Buffalo intends to confirm the potash potential of the Disley Project and position the Company for development of a showcase facility.
Mr. Steve Halabura, P.Geo., Chief Executive Officer of the Company, commented: “This is how we convert the big vision into tangible shareholder value – executing a development strategy that implements an updated solution mining approach using proven oil and gas technology. Drilling represents the next step in validating the geology underpinning our strategy as part of a systematic approach to advancing the Disley Project”.
Mr. Halabura commented further: “Geologically, the Disley Project is in Saskatchewan’s Elk Point Basin, which is the foundation of global potash supply. Saskatchewan is also the most established potash jurisdiction globally based on reserves, historic production, regulatory support, workforce knowledge, and infrastructure in place. We are fortunate to have a project in this basin, next to some of the largest potash solution mines in the world and adjacent to rail, road, gas, and power. We know the geology of this area very well and we believe the Disley Project is prospective to host Saskatchewan’s next potash solution mine”.
Saskatchewan’s Elk Point Basin
The Elk Point Basin of Saskatchewan is the world’s largest source of potash, spanning 1.2 million square kilometers, and by some assessments, may contain 40% to more than 50% of the world’s total potash resource1. Since mining began in 1962, companies operating in the Elk Point Basin have produced more than 605 million tonnes of potash1 (KCl), underscoring the basin’s global and geopolitical importance to fertilizer supply and food security.
2026 Confirmation Phase
Buffalo is advancing a series of development milestones to assess the Disley Project as part of the Confirmation Phase in the Company’s systematic development approach. The Confirmation Phase is designed to provide a preliminary economic assessment of the long-term viability of a selective solution potash mining operation on the property using the Company’s patented Horizontal Line-Drive (“HLD”) mining system, subject to the results of ongoing technical work.
Key objectives for the Confirmation Phase include:
- Drilling of Confirmation Well #1;
- Drilling of Confirmation Well #2;
- Testing and analysis of core samples, including the historical pilot (as defined below);
- Completion of additional 3D seismic interpretation;
- Evaluation of resource potential and preparation of a NI 43-101 technical report; and
- Commissioning and completion of a Preliminary Economic Assessment (“PEA”).
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