AmerAlia successfully completes core hole drilling and confirms positive findings.COLORADO SPRINGS Colorado Springs, city (1990 pop. 281,140), seat of El Paso co., central Colo., on Monument and Fountain creeks, at the foot of Pikes Peak; inc. 1886. It is a year-round resort and a booming military, technological, and commercial city. , Colo.--(BUSINESS WIRE)--March 21, 1996-- AmerAlia Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :AALA AALA Adventure Activities Licensing Authority AALA American Agricultural Law Association AALA American Association for Laboratory Accreditation AALA American Automobile Labelling Act AALA Asociación de Amigos del Lago de Atitlán ) announced Thursday that the cored drill hole on the company's Rock School Lease in the Piceance Creek Basin in northwestern Colorado has been completed to a depth of 2598 feet. Preliminary assessment of the core indicates that the nahcolite resource intervals were intersected as expected. Detailed evaluation of this core is now commencing and is expected to be completed by the end of May 1996. AmerAlia's management has also been actively coordinating the design and construction schematics with Raytheon Engineers and Constructors in anticipation of breaking ground on their production facility later this year. AmerAlia owns a U.S. Department of Interior lease of 1320 acres in the Piceance Creek Basin. This basin contains the world's largest deposit of Nahcolite (naturally occurring sodium bicarbonate sodium bicarbonate or sodium hydrogen carbonate, chemical compound, NaHCO3, a white crystalline or granular powder, commonly known as bicarbonate of soda or baking soda. It is soluble in water and very slightly soluble in alcohol. which is generally known as baking soda baking soda: see sodium bicarbonate. ). The company's lease has been previously estimated to contain an insitu resource of approximately 600 million tons of Nahcolite. Due to strong, worldwide demand for sodium bicarbonate, coupled with AmerAlia's expected low cost of production, the company anticipates rapidly gaining marketshare by providing a full range of pharmaceutical, food, technical, animal feed and flue-gas desulphurization product grades. -0- NOTE TO EDITORS: In the World Wide Web address noted in this news release, there is a double slash between http: and www.insidewallstreet.com. This symbol may not appear properly in some systems. CONTACT: AmerAlia Inc. Marvin Hudson, VP, Investor Relations Investor relations The process by which the corporation communicates with its investors. , 719/260-6011 or Continental Capital & Equity Corp. Dodi Zirkle, 407/875-1110 http://www.insidewallstreet.com |
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