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Market: TSX
Sector: General Mining
EPIC: AAA
Latest Price: 0.55  (-0.91% Descending)
52-week High: 2.12
52-week Low: 0.49
Market Cap: 125.69M
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Allana Potash
www.allanapotash.com

Allana Potash Corp. is a publicly traded company with a focus on the acquisition and development of potash assets. The Company's flagship project is its Ethiopia Potash Project in the Danakhil evaporite basin which has NI-43-101 compliant Measured + Indicated resources of 673M tonnes containing 126 M tonnes of KCl and additional Inferred Mineral Resources totaling 596M tonnes containing 119M tonnes of KCl. Allana also has potash claims in Argentina adjacent to Vale's Rio Colorado project. Allana has approximately 193 million shares outstanding and trades on the TSX Venture Exchange, under the symbol "AAA."

Full Allana Potash profile here
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Allana Potash intersects over 40% potash at 2.6 metres in Ethiopia

18th Oct 2011, 1:39 pm by Deborah Sterescu
Allana Potash intersects over 40% potash at 2.6 metres in Ethiopia

Toronto-based Allana Potash Corp. (TSE:AAA)(OTCQX:ALLRF) announced Tuesday that it has intersected three zones of strong potash mineralization in hole DK-11-28, located in the northwestern portion of its 154,000-hectare potash concession block in Ethiopia.

The hole, which was targeted to test potash mineralization west of hole 15, returned a strong Sylvinite Zone at a depth of 198.8 metres, which yielded 40.27% KCI (the composite grade of all four potash-bearing beds including sylvinite, upper and lower carnallite and kainitite) over 2.56 metres.

The Kainitite Zone was also intersected deeper in the hole at a depth of 266.43 metres, and returned 21.98% KCI over 8.39 metres.

President and CEO, Farhad Abasov, said: "Allana continues to be encouraged by the continuity and strength of potash mineralization in the northwestern portion of the property as exhibited by the results of Hole 28.

"This area continues to yield high grade potash in the Sylvinite and Kainitite zones which management believes will allow Allana to upgrade mineral resources from Inferred to Measured and Indicated categories as well as add to the Inferred category."

The potash zones remain open to the north and northeast of hole 28, the company said, which bodes well for expansion of the resource.

Abasov continued: "The relatively shallow and high grade nature of the Sylvinite Zone make this area ideal for solution mining with recovery through solar evaporation."

Hole 28 is located in the northwestern part of the concession block west of Hole 15 and east of the historic Musley Deposit, suggesting that potash mineralization at Musley continues.

Exploration drilling is continuing in the western part of the property as part of the infill drilling program designed to add resources and boast confidence by reducing the spacing between holes, allowing more material to qualify for measured and indicated mineral resource categories.

An updated NI 43-101 compliant resource report in late June estimated total measured and indicated resources of 673 million tonnes, with an average grade of 18.65% potash, or KCI, Inferred mineral resources stand at 596 million tonnes with an average grade of 19.96% KCI. A new estimate is expected by year-end.

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