Heck, sheib, you ain't even comparing apples to road apples when you try to compare PPI's compliant NI 43-101 technical report to BGM's non-compliant, purportedly compliant NI 43-101 report (go back and read the June 28, 2012, BGM news report and weep).
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 2, 2011) - Passport Potash Inc. (TSX VENTURE:PPI) ("Passport") is pleased to announce that it has received a NI 43-101 compliant technical report on the exploration potential for Passport's Holbrook Basin Project. The Company expects that the report will be filed on SEDAR and will be readily available for public viewing by Friday November 4th, 2011. The report, prepared by SRK Consulting (US) Inc. (SRK), indicates that it is possible to assess the exploration potential for Passport's lands, using only Passport's verifiable drill data as an order of magnitude estimate. In that regard, SRK has reported that:
- Passport's drill hole data shows that evaporite layers containing potash range in thickness from 2.6 to 18.4 meters and range in grade from 3.2% to 9.4% K2O, with an average thickness of 6.4 meters and a weighted average grade of 5.3% K2O.
- The exploration potential for the total areal extent of Passport lands (554 sq. Km.) is estimated to range between 290 and 315 million metric tonnes of K2O using a grade of 2% K2O as a threshold of mineralization, which is equivalent to a range from 460 to 500 million metric tonnes of KCL.
- The exploration potential is not a resource estimate and Passport is not representing this or any other number as a resource estimate for the Holbrook property. The potential quantity and grade is conceptual in nature. There has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource. Additional exploration work is necessary and historical data would have to be verified to report a resource estimate.