DENVER--(EON: Enhanced Online News)--Prospect Global Resources Inc. (NASDAQ: PGRX) (“Prospect Global” or the “Company”) is pleased to announce the completion of the Company’s fourth drilling program.
The Company completed 17 holes and multiple wedges during the campaign. The drilling was primarily infill drilling with the holes selected to maximize the potential conversion of inferred resources to measured and indicated resources for inclusion in the Company’s Definitive Feasibility Study. The drilling program was also designed to provide the core samples needed to complete the remaining rock mechanic and metallurgical test work required for the completion of a Definitive Feasibility Study.
The drilling was primarily performed by Boart Longyear, one of the premier drilling companies in the world.
The completion of the drilling program is a critical step towards completion of a Definitive Feasibility Study, and the Company is on track to complete an updated NI 43-101 resource report by the end of 2013.
Regarding Forward-Looking Statements
With the exception of historical matters, the matters discussed in this press release include forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from projections or estimates contained herein. Such forward-looking statements include statements regarding current and future classification of Prospect Global’s potash resources, development of its potash resources and potash mining facility and the Pre-Feasibility Study. Factors that could cause actual results to differ materially from projections or estimates include, among others, potash prices, economic and market conditions, and the additional risks described in Prospect Global's filings with the SEC, including Prospect Global's Annual Report on Form 10-K for the year ended March 31, 2013. Most of these factors are beyond Prospect Global's ability to predict or control. The forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, Prospect Global does not assume any obligation to update any forward-looking statements. Readers are cautioned not to put undue reliance on forward-looking statements.
About Prospect Global Resources Inc.
Prospect Global Resources Inc. is a Denver-based company engaged in the exploration and development of a potash mine located in the Holbrook Basin of eastern Arizona. Prospect Global’s stock is traded on the NASDAQ Capital Market under the ticker symbol PGRX.
Additional details about Prospect Global Resources Inc. can be viewed at the Company’s website, www.prospectgri.com.