Ringbolt Samples Submitted on Lisbon Valley Potash Project
Sep 01, 2011
OTC Disclosure News Service
Vancouver, BC, Canada –
Ringbolt Samples Submitted on Lisbon ValleyPotash Project
September 1st,2011, Vancouver, BC, Canada – Ringbolt Ventures Ltd. (the “Company” or “Ringbolt”),(TSX-V: RBV – FRANKFURT:3OZ) (OTCQX: RNGTF) The Company has submitted core samples for analysis from itsLisbon Valley Potash Project in the state of Utah.
Sixty-three (63) one-foot composite coresamples were collected from the Ringbolt Venture’s state section RBV-11-36A-1core hole. (from drilling announced on June 21, 2011) These samples were submitted to theaccredited SGS Minerals Services analytical laboratory in Lakefield, Ontarioon August 26, 2011 for the following mineral analysis:
Boron,Bromide, Calcium, Carnallite, Chloride, Halite, Lithium, Magnesium, Potassium,Potassium (total),
PotassiumChloride, Potassium Oxide, Sodium, Sulfate, Sulfur, Sylvite, Moisture andInsoluables, and 31 elemental ICP scan.
The reverse circulation drilling was carried out from surface to adepth of 2,474 feet, where the first drill core point was located. Core drilling was carried out from 2,474 feetto 2,728 feet. The drill then switched back to reverse circulation drillingfrom 2,728 feet to 3,374 feet to the second projected core point. The remainder of the hole was cored to theend of the hole at 3,449 feet.
Mr Simon Tam, President of Ringbolt Ventures stated “With theongoing drilling activities on our Lisbonvalley state section located within the Know Potash Leasing Area (KPLA) we areexcited to validate the potential of our property.”
Potash was first discovered in the Paradox Basinin an oil and gas well in 1924. In 1962, Superior Oil Company drilled the firstpotash at the crest of the Lisbon Valley anticline. Since1964, potash and by product salt have been produced from the Cane Creek mine.The Cane Creek mine was first owned and operated by Texas Gulf Sulphur, and isnow owned and operated by Intrepid Potash Company. Potash was originallyproduced by underground mining and, in 1970, the mine was converted to solutionmining. Solution mining has proven to be the ideal process in the project areabecause of the hot summers and low humidity. The mine has produced nearlycontinuously since 1964, and reportedly has a future mine life of 30 years.
About Ringbolt Ventures Ltd
Ringbolt Ventures Lisbon Valley project consists of nine state mineral leases totalling 6,421 acres andapplications for potash prospecting permits, totalling 24,640 acres. Theproject is located in San Juan County, Utah, within the Paradox Basin,a large sedimentary basin containing rocks of Pennsylvanian to Cretaceous age.The salt and potash beds are in the Pennsylvanian Paradox formation that isover 4,000 feet thick, with 29 separate cycles of salt, potash and clasticsediments.
Technicalinformation in this news release has been reviewed by Derrick Strickland, P.Geo.,a qualified person as defined in NI 43-101.
RingboltVentures Ltd. – please visit www.ringboltventures.comor contact Investor Relations Toll Free at (1-866-944-8674).
On behalfof the Board of Directors
Disclaimer and Cautionary Statement Regarding Forward-LookingInformation
NeitherTSX Venture Exchange nor its Regulation Services Provider (as that term isdefined in the policies of the TSX Venture Exchange) accepts responsibility forthe adequacy or accuracy of this press release. This news release shall notconstitute an offer to sell or the solicitation of an offer to buy securitiesin any jurisdiction.
Allstatements, trend analysis and other information contained in this pressrelease relative to markets about anticipated future events or resultsconstitute forward-looking statements. Forward-looking statements are often,but not always, identified by the use of words such as “seek”, “anticipate”,“believe”, “plan”, “estimate”, “expect” and “intend” and statements that anevent or result “may”, “will”, “should”, “could” or “might” occur or beachieved and other similar expressions. Forward-looking statements are subjectto business and economic risks and uncertainties and other factors that couldcause actual results of operations to differ materially from those contained inthe forward-looking statements. Forward-looking statements are based onestimates and opinions of management at the date the statements are made. The Companydoes not undertake any obligation to update forward-looking statements even ifcircumstances or management’s estimates or opinions should change. Investorsshould not place undue reliance on forward-looking statements.
RingboltVentures Ltd. seeks safe harbor.
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.