Skyline acquires limestone interest

A purchase agreement with Auspex Gold (VSE) gives International Skyline Resources (TSE) the right to acquire half of an oolitic limestone deposit in Idaho.

Skyline will pay Auspex $500,000 over a year, with the first payment of $100,000 due upon signing of the agreement.

Oolitic limestone is primarily composed of calcium carbonate occurring in a unique, natural prill form.

The prill form (essentially pea-shaped) makes the limestone particularly suitable for use in acidic soil and acidic mine drainage remediation as well as serving as a value-added filler in fertilizer.

Limited production of about 1,000 tons to date is expected to expand to 10,000 tons over the next 12 months. Revenue is forecast at more than $300,000.

Sales are expected to increase at least 20% per year over the foreseeable future, while the reserve of more than one million tons is open to expansion.