media 2.3 billion tonnes potash

Transit Holdings (ASX: TRH) has been granted a Right of Way permit over Federal Land, to access and drill State Lease Blocks in Utah, USA.

This will effectively provide Transit with a progression to define an initial JORC/NI43-101 resource.

The permit covers five exploration wells, with Transit already estimating a substantial exploration target of 2.3 billion tonnes of sylvinite at an average grade of 20.8% K2O (32.8% KCI).

Transit has earned 90% of a joint venture covering potash rights over 390 square kilometres at the Paradox Basin Project, which is in close proximity to infrastructure because of surrounding gas fields.

High grade sylvinite is prized among potash explorers which imbues Transit's project with a number of advantages.

The company intends by the end of the June quarter to file an application to the Federal Government agency, to drill a further program of exploration wells on Federal government land administered by the Bureau of Land Management.

This program will complete a very significant exploration and resource delineation exercise now underway.

Highlighting the domestic demand for potash in the USA, currently 85% of potash requirements are imported