Potash America, Inc. announced the hiring of a consulting firm to evaluate the mineral potential of the company’s properties in the United States. The company expects to receive an initial geological report in late June 2011.
Potash America has contracted with Industrial Mineral Developments, Inc. to investigate the mineral deposits on a mining property in Mineral County, Nevada. The company believes that the property is prospective for montmorillonite and other minerals.
Montmorillonite is a clay that has many agricultural and industrial uses, including a component in drilling fluid used for hydraulic fracturing of oil and gas wells, as well as a soil conditioner. The mineral is also used as a catalyst and additive in medicine and pharmacology.
Potash America said that Industrial Mineral Developments will conduct an assessment of geologic data, sampling and assays at the property as part of the services performed under the contract. The company will also examine existing literature and historical records to determine the economic potential of the properties. Industrial Mineral Developments will also assess the presence of any rare earth or precious metals located on the site.
Potash America signed a letter of intent in May 2011 to acquire thirty nine mineral claims held by the Bureau of Land Management at the Nevada site. The company expects to close the deal at the end of August 2011.
For more information on the company, go to www.potashamerica.com