Sage Potash More Than Doubles Utah Resource Estimate

Sage Potash (TSXV:SAGE) announced it has more than doubled the potash resource at its Utah project, putting 226.1 million metric tons in higher-confidence categories after a summer of drilling.

The updated estimate for the Sage Plain project totals about 771.5 million metric tons, up from 298.1 million metric tons from its previous estimate. Measured and indicated resources account for 226.1 million metric tons grading 41.36 percent potassium chloride (KCl). The remaining 545.4 million metric tons is inferred, the lowest-confidence category. Sage's previous estimates fell into the same category.

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Measured and indicated resources can support more detailed mine planning than inferred material. However, these are not automatically considered as reserves and do not show that the potash can be mined profitably.

The company plans to develop Sage Plain as a solution mine, dissolving the potash underground and pumping it to the surface as brine. Relatedly, Sage also announced this month that tests at its Peterson 1 well had confirmed two saline, non-potable water-bearing zones.

"Water is a critical component of solution mining, and these results provide another important piece of the development picture," CEO Patricio Varas said.

The company said it will fold the results of these tests into its engineering studies alongside the new resource estimate.

Moving forward, Sage declared it is targeting an initial operation of 150,000 to 300,000 metric tons a year at Sage Plain, in San Juan County in Utah's Paradox Basin. Following steps include environmental studies as well as permitting and engineering for an expanded throughput design.

The company also said it will file an NI 43-101 technical report on SEDAR+ within 45 days of the October 19 announcement.

​Imports dominate US supply

Sage aims to establish domestic potash production in the US, which relies heavily on imports. US Geological Survey (USGS) estimates the country imported 5.6 million metric tons of potash in 2025, measured by potassium content.

Canada supplied 79 percent of US potash imports between 2021 and 2024, and Russia 12 percent, according to the USGS. Belarus, which supplied 8 percent between 2017 and 2020, no longer appeared as a source.

A 30,000 metric ton cargo of Belarusian potash, the first shipment to the US in four years, left Russia's Bronka port near St. Petersburg on September 15 and reached New Orleans last October 14.

Washington eased sanctions on Belarusian potash in December 2025 and removed state-owned producer Belaruskali from its sanctions list in March 2026, in agreements that included the release of political prisoners.

Similarly, the resource has also entered Canada's trade dispute with the US. Ontario Premier Doug Ford has previously urged federal and provincial authorities to restrict potash shipments to force US concessions.

Conversely, Saskatchewan Premier Scott Moe has rejected export taxes or supply restrictions on natural resources.

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Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.