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Transit Holdings drilling ahead at State Hole #2 well at Utah Potash Project

Transit Holdings (ASX: TRH) has drilled the State Hole #2 well at the Paradox Basin Potash Project in Utah to a depth of 1817 metres (6,051 feet), reaching Bed 13.

Coring and analysis of the cores has commenced and the company now plans complete the coring of Bed 13.
Drilling operations will then resume down to about 2030 metres (6,700 feet) to Bed 18 to complete the coring operations.

Transit is in the process of drilling four exploratory wells to augment a database of historical drilling at the project which hosts an exploration target of 3.4 to 5.2 billion tonnes of sylvinite ore at 23% to 34% KCl.

Importantly, the company’s focus is on sylvinite, a high grade form of potash ore that is cheaper and more effective to process to a saleable form than any other form of potash ore.

Transit expects to have a JORC Resource after drilling the four holes and the analysis of subsequent results.

The company and joint venture partner, K2O Utah LLC, are conducting the drill campaign as part of the project’s Pre–Feasibility Study.