Buffalo Potash Commences Drilling at Initial Production Module
Buffalo Potash begins drilling at the IPM project, launching the execution phase ahead of its targeted completion in the first quarter of 2027.
Buffalo Potash Corporation (BUFF) has commenced drilling operations at the Initial Production Module (IPM) site of its Disley Project in Saskatchewan. The company spudded the first vertical well, designated the 15-10 Well, on July 16, 2026, as it advances toward the Prairie Evaporite Formation for coring and geological logging.
Site construction is complete for the second vertical well, the 2-14 Well, allowing the rig to move directly to the next location without standby time. Upon completion, both vertical wells will be converted into the operational Source and Disposal Wells for the company’s patented Horizontal Line-Drive (HLD) solution mining method.
The IPM is designed to produce 125,000 tonnes per annum (TPA) of soluble-grade potash, with first production targeted for Q1 2027. The full Disley Project build-out aims for 1,125,000 TPA. Management highlights the transition from preparation to field execution, emphasizing experienced potash teams and efficient rig mobilization.
The company references a Preliminary Economic Assessment (PEA) showing a 12-month payback for the IPM, a US$1.1B after-tax NPV, and a 30% IRR for the full project.
Buffalo Potash Corporation (BUFF) has begun drilling at the IPM, a development that follows the company’s June 2026 financing and the April 2026 Preliminary Economic Assessment and Mineral Resource Estimate releases. This activity confirms management’s stated timeline and execution capability, though it introduces no fundamentally new information or valuation inflection.
The update represents incremental operational progress that validates the capital deployment of the C$14.85M raised in June. It does not alter the project's risk profile or economic assumptions. Given that the market has already priced in the Q1 2027 production target and the PEA metrics, this operational update is considered routine.
Buffalo Potash Corporation is a pre-revenue exploration and development company focused on the Disley Project in Saskatchewan, Canada. The project is located approximately 50 km northwest of Regina, adjacent to major producing solution mines operated by K+S (Bethune) and Mosaic (Belle Plaine).
The company utilizes a patented Horizontal Line-Drive (HLD) selective solution mining method, which applies mature oil and gas horizontal drilling techniques to potash extraction. The development strategy is modular, starting with an Initial Production Module (IPM) targeting 125,000 TPA of soluble-grade potash, with a pathway to scale to 1,125,000 TPA across three facilities. The project holds 100% ownership and benefits from Saskatchewan's premier potash jurisdiction status, existing infrastructure, and transparent regulatory environment.