Parkway Minerals NL (ASX:PWN) has expanded into Western Australia’s salt lake sector with the establishment of the Lake Barlee Potash/Lithium Brine Project, northwest of Kalgoorlie.
Geoscience Australia in 2013 identified Lake Barlee as having potential to host potassium and lithium mineralisation in the lake sequences.
The company’s exploration strategy will be to locate areas within the lake that may contain commercially significant concentrations of potassium or lithium brine.
Should Parkway’s exploration be successful, the Lake Barlee project holds significant cost advantages as it is close to existing rail and other infrastructure.
Patrick McManus, managing director, commented: “This transaction allows Parkway to accelerate its evaluation programme on Lake Barlee. The region is very prospective as a source of potash from brines.
“Western Australia, Australia and our near regional neighbours are significant consumers of potash so there is a window of opportunity there for new local, low-cost supplies for the agricultural sector.”
Lake Barlee project
The company has secured 10 exploration licenses covering 1,834 square kilometres of Lake Barlee giving Parkway the dominant landholding on the lake.
The opportunity to acquire EL 77/2347 from Dakota Minerals has allowed Parkway to accelerate the project’s exploration program.
The acquisition cost is the payment of $15,000 worth of Parkway shares.
Parkway will shortly undertake a shallow auger sampling program over the recently acquired Dakota tenement and field reconnaissance over the remainder of the area.
A “proof of concept” aircore drill program utilising a specialist lake drill rig is being planned to determine the presence of basal channel sands and the geochemistry of the brine waters.
This work is expected to be undertaken later in the year once key tenements have been granted.