ATLAS DRILLS INTO THICK SALT BED IN EASTERNMOST HOLE AT GREAT ATLANTIC
St. John’s, Newfoundland and Labrador, January 11, 2023 – Atlas Salt (the “Company” or “Atlas” – TSXV: SALT; OTCQB: REMRF), 100% owner of North America’s premier undeveloped high-grade salt project, has intersected a thick bed of salt in the easternmost drill hole at Great Atlantic.
Drill hole CC-9 cut a gross interval of salt over 333 meters (1,092 feet) starting from a depth of 243 meters. The drill hole was collared 250 meters east of CC-4 and is anticipated to be the last drill hole for resource classification purposes subject to final analytical results pursuant to the ongoing Feasibility Study.
Mr. Rowland Howe, Atlas President, commented: “This step-out drill hole adds an exclamation mark to the work completed to date and further demonstrates the scale of this massive homogeneous deposit that begins at unusually shallow depths compared to operating underground mines in the sector. Great Atlantic has extraordinary advantages, all the attributes to become a state-of-the-art ‘Salt Factory’ and a disruptive asset in the heart of the eastern North America road salt market.”
Preliminary Economic Assessment
SLR Consulting (Canada) Ltd. (SLR) has advised Atlas that it is on track to provide the results of a Preliminary Economic Assessment (PEA) of the Great Atlantic Project during the second half of January, 2023. This independent economic assessment is a prelude to the Feasibility Study and will describe the current economic valuation for the project subject to refinement in the final Feasibility Study expected during this first half of 2023.
New Atlas Website
Atlas Salt is pleased to unveil its new corporate website, www.AtlasSalt.com, with a clean, crisp, modern look optimized for a mobile user experience designed with SEO best practices in mind. The new website will assist the company’s upcoming campaign to introduce the Atlas story to international investors.
Click on the following link to view the company’s latest corporate video:
Interview With Rowland Howe
“Why shouldn’t it become the biggest and best underground salt mine in the world?”: Atlas Salt President Rowland Howe discusses Great Atlantic – click on the link below to view.
Patrick J. Laracy, P.Geo, and CEO, is the Qualified Person responsible for the technical contents of this news release as defined in National Instrument 43-101.
About Atlas Salt
Bringing the Power of SALT to Investors: Atlas Salt owns 100% of the Great Atlantic salt deposit strategically located in western Newfoundland in the middle of the robust eastern North America road salt market. The project features a large homogeneous high-grade resource located immediately next to a deep water port. Atlas is also the largest shareholder in Triple Point Resources as it pursues development of the Fischell’s Brook Salt Dome in the heart of an emerging Clean Energy Hub on the west coast of Newfoundland.
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