Fortbridge Media ReleaseTransit Holdings [ASX: TRH] - Company UpdateTransit Holding (ASX: TRH) announces that its maiden drilling program at the Companys flagship Paradox Basin Potash Project (Utah, USA) is scheduled to commence in Quarter 3, 2011.
* Drilling to commence in Paradox Basin in Quarter 3, 2011
* Drilling Contractor selected
* Construction on drill site and roadwork activity started
* Tranche 1 of Placement Completed
The company has reviewed a number of qualified operators and has selected Sabine Storage & Operations Inc of Houston Texas to perform the drilling of 4 exploratory wells on the State lease locations.
Drill site construction and roadwork started for the first State of Utah drill hole on July 1, 2011.
Please find other news in the attached announcement.
For more information, please contact:
Ben Binninger
Chief Executive Officer
Morgan Barron
Company Secretary
Transit Holdings Ltd
Tel: +61 8 9482 0515
Fax: +61 8 9482 0505
Media & Investor Enquiries:
Fortbridge Consulting
Tel: +61 2 9331 0623
Peter- John Lewis
Mob: +61 416 290 604
Email: