TORONTO, Dec. 20, 2011 /PRNewswire/ - IC Potash Corp.
("ICP" or the "Company") (TSX: ICP) (OTCQX: ICPTF) is pleased
to announce the appointment of Ms. Terre
Lane as Senior VP of Engineering and Project Management. Ms.
Lane will be responsible for the execution of the bankable
feasibility study for the Company's 100%-owned Sulphate of Potash
("SOP") Ochoa Project (the "Project") in southeast New Mexico. Ms. Lane is a highly recognized
mining engineer with 28 years of mining engineering experience. Ms.
Lane has played lead roles in nine bankable feasibility studies and
35 pre-feasibility studies. During her career, she has been
involved with the establishment of over 30 fully operational
mines.
Mr. Sidney Himmel, CEO of ICP,
commented: "We are delighted to have Terre
Lane join us as the senior mining engineer for the Ochoa
project. She is an established mine builder with proven
technical and managerial capabilities. Ms. Lane will play an
integral role in leading the execution of the Ochoa Project's
bankable feasibility study. On behalf of the ICP staff and
the Board of Directors, I personally welcome Ms. Lane to our
team."
Ms. Lane has significant experience leading technical teams in
mine development and construction, including surface and
underground mining, mineral processing, and logistics. Her previous
experience includes leading the bankable feasibility study for the
Lisheen lead/zinc project for Minorco, a mine of similar scale to
the one planned for the Ochoa Project, with a capital cost of over
$500 million. Prior to joining ICP,
Ms. Lane was a senior mining engineer with Gustavson Associates,
LLC, a global mining consulting firm consisting of geologists and
mining engineers. In this capacity, Ms. Lane was responsible for
managing multiple teams and projects. Ms. Lane holds a Bachelor of
Science in Mining Engineering from Michigan
Technological University and is an MMSA Qualified
Person.
About IC Potash Corp.:
ICP intends to become a primary producer of
Sulphate of Potash ("SOP") and Sulphate of Potash Magnesia ("SOPM")
by mining its 100%-owned Polyhalite Ochoa property in New Mexico, a highly advanced mineral
deposit containing proven and probable reserves of more than 400
million tons of ore within the proposed mine plan. SOP is a
non-chloride based potash fertilizer that sells at a substantial
premium over the price of regular potash known as Muriate of Potash
("MOP"). MOP contains chloride and is therefore not the
optimal potash for numerous crops and in situations where there is
high soil salinity. ICP is focused on becoming the lowest
cost producer of SOP in the world. The SOP market is towards six
million tonnes per year. SOP is a significant fertilizer in
the fruit, vegetable, tobacco, potato, and horticultural
industries. SOP is also applicable in soils where there is
substantial agricultural activity with varieties of crops and
therefore where the salinity of the soil has increased, and in
areas where soils are dry. SOPM is a highly desirable potash
product for soils with magnesium deficiency, including those found
in Europe and Southeast Asia and has a total global market
size of over one million tonnes. ICP's Ochoa property consists of
over 100,000 acres of federal subsurface potassium prospecting
permits and State of
New Mexico Potassium mining leases.
Forward-Looking Statements
Certain information set forth in this news release may contain
forward-looking statements that involve substantial known and
unknown risks and uncertainties. These forward-looking statements
are subject to numerous risks and uncertainties, certain of which
are beyond the control of ICP, including, but not limited to, risks
associated with mineral exploration and mining activities, the
impact of general economic conditions, industry conditions,
dependence upon regulatory approvals, and the uncertainty of
obtaining additional financing. Readers are cautioned that the
assumptions used in the preparation of such information, although
considered reasonable at the time of preparation, may prove to be
imprecise and, as such, undue reliance should not be placed on
forward-looking statements.
SOURCE IC Potash Corp.
