Source: Universal Potash Corp. via

Universal Potash Corp. will be aggressively bidding at the upcoming Trustlands Auctions to be held in Utah on the 27th of January, 2011, and the Bureau of Land Management land auctions in New Mexico to be held on 19th of January. UPCO plans to target lithium, as well as potash which potentially occur together in the same salt horizons. The areas being targeted are known for historic oil and gas drill logs which contain potash as well as lithium brines. Currently active bids and budgets are being prepared. UPCO plans to re-enter abandoned oil drill sites in search of potash and lithium using modern technology not available at shut down. Previous logs will be analyzed for economical valuations for potash, as well as lithium brines, with a focus on the salt horizons containing the lithium and potash.

Potash and lithium are both in great demand on world markets at this time and are projected to increase due to their unique properties. Potash is used internationally as a fertilizer increasing crop yields by as much as 50 percent. World population growth and the rise of the standard of living around the world continue to put a strain on world food supplies. Potash is one of the most economical ways to increase world food yield. Lithium is a white metal used in the manufacture of ultra light weight batteries for cell phones, power tools and in electric cars. Demand for lithium ion batteries for electric vehicles is projected to soar in the next 10 years. 

Original news release