09:43 AM EST - Rio Verde Minerals Development Corp : announced the completion of the first drill hole, SED-001-11 at its Sergipe Potash Project located in the Sergipe Basin in northeastern Brazil. Drilling of the SED-001-11 hole was completed on November 12, 2011, when the target depth of 1,350m was reached. The Hole, which is the first of three holes planned at the Sergi Prospect, is a twin hole of an historical Petrobras oil well located 115m to the northwest of SED-001-11. Logging and a preliminary determination of potash content based on hand-held X-ray fluorescence (XRF) analyses on the core of SED-001-11 indicates that significant potash mineralization has been intercepted in two sylvinite-bearing zones with thicknesses of 12.97 metres and 5.05 m, and one carnallitite-bearing zone with a total thickness of 61.0m, for a total of about 79m of potash mineralization. Rio Verde Minerals Development Corp
shares T.RVD are trading even at $0.35.
