By OGJ editors
HOUSTON, Feb. 21 – Privately held Rio Verde Minerals Corp., Toronto, and geological consultants have identified seven drill-ready potash targets in the Sergipe basin in northeastern Brazil. Rio Verde plans to go public in the spring of 2011.
This basin is home to Brazil's only producing potash mine, Taquari-Vassouras, in operation since the 1970s and operated today by Vale SA. Rio Verde targets sylvinite horizons similar to those at Taquari-Vassouras and potential carnallite horizons.
These targets were selected after extensive basin modeling based on 234 line-km of 2D seismic and the acquisition of geological data from 286 historical oil wells in the area. First to be tested is the Sergi prospect south of the Taquari-Vassouras mine with an initial program of 4,050 m split in three holes of 1,350 m each. Two more seismic lines totaling 15.5 km are to start in the second quarter of 2011.
Dreamstime | © Charles Montgomery.
Photo from SABIC Limburg BV.
