Atlas Salt Commences Geotechnical Drilling Program and Finalizes 160 Hectare Crown Land Surface Lease for Great Atlantic Salt Project
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TSXV: SALT
100 New Gower Street, Suite 910
St. John’s, NL A1C 6K3
Telephone: (709) 739-9545
AtlasSalt.com
FOR IMMEDIATE RELEASE
Atlas Salt Commences Geotechnical Drilling Program and Finalizes 160 Hectare
Crown Land Surface Lease for Great Atlantic Salt Project
St. John's, Newfoundland and Labrador – October 22, 2024 - Atlas Salt Inc. (“Atlas
Salt” or the “Company”) (TSXV: SALT; OTCQB: REMRF ) is pleased to announce the
commencement of the geotechnical drilling program at its Great Atlantic Salt Project.
Additionally, the Company has finalized the acquisition of a 160-hectare Crown land surface
lease.
Geotechnical Drilling and Investigation Program Commences
Atlas Salt has appointed Terrane Geoscience Inc. and GEMTEC Consulting Engineers and
Scientists Ltd. to lead the comprehensive geotechnical and hydrogeological investigation for
the proposed decline and box cut at the Great Atlantic Salt Project. Logan Drilling has been
selected to execute the geotechnical drilling program, which will involve approximately 2,700
meters of core drilling along the decline path to evaluate rock conditions and groundwater
behavior.
The program is designed to ensure that the decline and box cut meet the highest standards
of safety and stability. Drilling has commenced and is expected to be completed by Q1 2025.
The investigation’s scope includes:
Geotechnical Drilling: 2,700 meters of core drilling along the decline alignment to
gather data on rock quality, structural conditions, and other key factors affecting
construction.
Hydrogeological Testing : Assessment of groundwater flow and permeability to
support dewatering and design strategies for underground development.
Data Analysis: Development of a 3D geotechnical model to guide detailed design and
construction efforts.
Groundwater Monitoring : Installation of piezometers to continuously monitor
groundwater levels and ensure stability during future underground operations.
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TSXV: SALT
100 New Gower Street, Suite 910
St. John’s, NL A1C 6K3
Telephone: (709) 739-9545
AtlasSalt.com
This program is critical in de-risking the decline construction—one of the key risks for the
project—by providing site-specific data that will inform design decisions and mitigate
potential challenges before construction begins.
Robert Booth, Vice President, Construction & Engineering, stated: “Selecting Terrane,
GEMTEC, and Logan Drilling for our geotechnical program, alongside Sandvik as our
underground equipment partner, demonstrates our commitment to working with top-tier
companies as we advance the Great Atlantic Salt Project. These partnerships are crucial for
the successful development of the project. The geotechnical investigation will provide us with
detailed insights that significantly de-risk the decline construction and ensure a safer and
more efficient execution of this key phase.”
160 Hectare Crown Land Surface Lease Acquired
Atlas Salt has completed the acquisition of an approximately 160-hectare Crown land surface
lease, securing the necessary land for the geotechnical drilling and surface infrastructure
development, including access roads, on-site facilities, and material handling systems. This
lease ensures the Company has the space required to support future development and the
construction phase as the project advances.
CEO Richard LaBelle commented : “The commencement of our geotechnical drilling
program and the finalization of our 160-hectare surface lease are pivotal in the progress of
the Great Atlantic Salt Project. These achievements demonstrate that we are on track to meet
our development objectives and move forward towards constructing Canada’s next major
salt mine.”
For further information and ongoing updates, please visit https://atlassalt.com.
About Atlas Salt Inc.
Atlas Salt Inc. is developing Canada’s next salt mine and is committed to responsible
and sustainable mining practices. With a focus on innovation and efficiency, the
company is poised to make significant contributions to the North American salt
market while upholding its values of environmental stewardship and community
engagement.
For information, please contact:
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TSXV: SALT
100 New Gower Street, Suite 910
St. John’s, NL A1C 6K3
Telephone: (709) 739-9545
AtlasSalt.com
Richard LaBelle, CEO
(709) 739-9545
We seek safe harbor.
Cautionary Statement
Neither the TSX Venture Exchange nor its Regulation Services Provider, (as the term is
defined in the Policies of the TSX Venture Exchange) accepts responsibility for the adequacy
or accuracy of this release. This press release includes certain “forward-looking
information” and “forward-looking statements” (collectively “forward-looking statements”)
within the meaning of applicable Canadian securities legislation. All statements, other
than statements of historical fact, included herein, without limitation, statements relating
to the future operating or financial performance of the Company, are forward-looking
statements. Forward-looking statements are frequently, but not always, identified by
words such as “expects”, “anticipates”, “believes”, “intends”, “estimates”, “potential”,
“possible”, and similar expressions, or statements that events, conditions, or results “will”,
“may”, “could”, or “should” occur or be achieved. Forward-looking statements in this press
release relate to, among other things: obtaining financing, completion, delivery and timing
of project components and requirements, and analysis and assumptions related thereto.
Actual future results may differ materially. There can be no assurance that such
statements will prove to be accurate, and actual results and future events could differ
materially from those anticipated in such statements. Forward-looking statements reflect
the beliefs, opinions and projections on the date the statements are made and are based
upon a number of assumptions and estimates that, while considered reasonable by the
respective parties, are inherently subject to significant business, technical, economic, and
competitive uncertainties and contingencies. Many factors, both known and unknown,
could cause actual results, performance or achievements to be materially different from
the results, performance or achievements that are or may be expressed or implied by such
forward-looking statements and the parties have made assumptions and estimates based
on or related to many of these factors. Such factors include, without limitation: the timing,
completion and delivery of required permits, supply arrangements and financing. Readers
should not place undue reliance on the forward-looking statements and information
contained in this news release concerning these times. Except as required by law, the
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TSXV: SALT
100 New Gower Street, Suite 910
St. John’s, NL A1C 6K3
Telephone: (709) 739-9545
AtlasSalt.com
Company does not assume any obligation to update the forward-looking statements of
beliefs, opinions, projections, or other factors, should they change.