VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 16, 2012) - Mesa Exploration Corp. (TSX VENTURE:MSA)(PINKSHEETS:MSAJF) ("Mesa") is pleased to announce it has filed on SEDAR a NI 43-101 Technical Report on the Bounty potash project in the Great Salt Lake Desert of western Utah. The report was prepared in accordance with the guidelines of National Instrument 43-101 by independent consultant and qualified person Dana Durgin. In addition to the property ownership, physiography, and regional geology, Mr. Durgin reviews the technical aspects and potential of the project.
In the report Mr. Durgin stated, "From his review of the available data, it is apparent to the author that there is a substantial potash resource present at the Bounty Project. As shown by the drilling, sampling and mapping done by Quintana Petroleum, the US Geological Survey and the Utah Department of Natural Resources in the area, the geologic and hydrologic setting is directly analogous to that at the Intrepid Potash operation in the Bonneville Salt Flats 25 miles to the south. The size of the drainage basin is somewhat smaller, but dissolved solid (KCl, NaCl, MgCl2) contents of the brine are quite similar."
The author further stated, "The completion of the drilling program, both confirming the Nackowski results and closing the drillhole spacing, should lead Mesa to the point where a new resource estimation can be completed in a NI-43-101 compliant manner. Assuming positive results, this will lead to preliminary engineering studies for the design of a system of drainage ditches, evaporation ponds and processing facilities."
The report recommended an exploration program of at least forty auger holes to be drilled to the base of the shallow aquifer. Drilling will infill and verify the historic sampling and map brine aquifer depth, thickness, lithology and potash content. Additionally a minimum of four reverse circulation drill holes will be drilled to 500 feet to test for deeper brine aquifers typically found in the region. The budget for this program is $118,000 and Mesa is currently working on securing drill permits.
About the Bounty Project
The project is 15 air miles north of Intrepid Potash's Wendover operation, a potash mine which is chemically and physically analogous to the deposit at the Bounty project. The Wendover mine has been in production for 75 years utilizing a system of potash brine collection ditches and solar evaporation ponds, with potash and salt being processed in a simple flotation mill. The Wendover mine has annual production of 100,000 tons of potash and 200,000 tons of magnesium chloride, grossing $60 million per year.
Positive Features of Surface Potash Brine Operations:
The Bounty project consists of 90 square miles of potash prospecting permit applications from the Bureau of Land Management (BLM) and 14 square miles of Potash Leases from the State of Utah.
About Mesa Exploration
Mesa is developing and exploring a portfolio of mineral properties in the United States where it controls significant land holdings. All projects are within proven mining districts with excellent access and infrastructure. Mesa currently has 14 million shares issued and outstanding, 50% of the shares are controlled by insiders and institutions. For further information please visit our website at www.MesaExploration.com.
This Press Release has been prepared and revised under the supervision of Dana Durgin, AIPG Certified Professional Geologist, a Qualified Person as defined by National Instrument 43-101 guidelines.
ON BEHALF OF THE BOARD
MESA EXPLORATION CORP.
Foster Wilson, President and CEO
This news release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, including the likelihood of commercial mining and possible future financings are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include unsuccessful exploration results, changes in metals prices, changes in the availability of funding for mineral exploration, unanticipated changes in key management personnel and general economic conditions. Mining is an inherently risky business. Accordingly the actual events may differ materially from those projected in the forward-looking statements. For more information on the Company and the risks and challenges of its business, investors should review the Company's annual filings that are available at www.sedar.com.
The TSX Venture Exchange has neither approved nor disapproved of the contents of this news release.