Salt Lake City-Black Hawk Exploration of Fox Island, Wash., says it has picked up three contiguous square mile parcels of southeastern Utah school trust lands that are directly adjacent to a known potash leasing area. Black Hawk was the only bidder Jan. 31 when Utah School and Institutional Trust Lands put up for bid five parcels in the Paradox Salt Basin in San Juan County. Black Hawk CEO Kevin Murphy stated that the company has in its possession oil and gas well data from one of its leases, displaying sections of salts nearly 3,000 feet thick containing multiple potassium beds within the Paradox salts. “The leases encompass nearly 2,000 acres of the SITLA tracts of subsurface potassium rights and include all other associated chloride minerals,” Murphy said. “Lithium was our major target for this project and is covered under our potash lease as chlorides. But having a potentially world class potash property integrated with the asset is a bonus for Black Hawk and its shareholders. Any exploration will allow us to measure lithium and potash as well as the magnesium and born resources in each well we drill.” Murphy said the potash exploration would be joint ventured with an affiliated company ?Çô Universal Potash Corp., also of Fox Island, which had been announced as the bidder. SITLA staff reported that Black Hawk paid nearly $51,000 for the three tracts. They said they were puzzled that the two others were no-bid even though they were sponsored as the procedures require.
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