Canasia gets option on 450,000 acres of K claims

Vancouver-Canasia Industries Corporation, another Canadian company dipping its toes in the potash market, announced last week that it had received government approval for potash permit applications that encompass 453,058 acres of land located on the Saskatchewan/Alberta border. “This is fabulous news,” said Graeme Sewell, a director of the company. “Canasia may be one of the smallest capitalized public companies that have exposure to government approved potash claims. This may offer the shareholders tremendous leverage into a fast growing sector. When you also factor in our gold/copper upcoming summer drill programs and our potential coal claims, Canasia has exposure to multiple prospects that alone may offer significant shareholder value. The summer is going to be an extremely active period of potential corporate growth for Canasia.” A work program on the potash permit area will now be formulated with the goal of establishing a NI 43-101 compliant report in the near future, the company said. In February, Canasia announced that it had signed on option agreement to acquire a 100 percent interest, subject to regulatory approval, in the Eyehill Creek Potash Property, which consists of 20 Metallic and Industrial Minerals Permit Applications located in east-central Alberta along the Saskatchewan border. The company at that time said that it believed there was potential for the discovery of “significant potash occurrences within the Eyehill Creek Property.”