Sign up Australia
Proactive Investors - Run By Investors For Investors

Parkway Minerals prepares to drill Lake Barlee for potassium

The work on Lake Barlee is accelerating with recent brine samples showing high potassium levels.
map of western australia
Parkway is commencing surveys across the target areas

Parkway Minerals NL (ASX:PWN) has completed the hydrological targeting exercise for “proof of concept” drilling at its Lake Barlee project, within a salt lake in the mid-west region of Western Australia.

The company has mobilised a field crew to site to commence geophysical surveying over key areas.

The aim of the geophysical survey will be to map the basement to identify potential channel structures which will be the target for the drill testing.

Patrick McManus, managing director, commented: “The work on Lake Barlee is accelerating. Recent brine samples show encouraging potassium levels.

“Non-intrusive, geophysical testing will allow the targeting of deeper sections of the salt lake. Once drill targets are identified the company will carry out drilling as soon as practicable”

Proof of concept drilling

Parkway has completed a review of the open file and government data over the Lake Barlee Project.

This work has generated two target areas for proof of concept drill testing.

Both areas are in the northern part of the project area within the main body of the lake.

The proof of concept drill program is designed to confirm the presence of basal channel sands and determine the potassium concentration in the brines prior to rolling out a full scale exploration program.

Next Steps

Parkway completed a field inspection over the survey areas in early August, and both areas were found to be dry and the surface of the lake reasonably firm which will allow field work to proceed.

Following the grant of the key exploration licences, the company is commencing passive seismic survey across the target areas defined for the proof of concept drilling.

The aim of the survey will be to map the basement to identify potential channel structures which will be the targets for the drill testing.

Well funded

Last month, Parkway received commitments to raise $850,000 via a placement of shares to new and existing shareholders at $0.01 each.

The new share placement was undertaken to fund the exploration program planned for the next 12 months at Lake Barlee.

While the Lake Barlee project is progressing well, Parkway remains focused on its Dinner Hill project, located in the Dandaragan Trough of Western Australia.

The indicated resource delineated at Dinner Hill could be a source of phosphates and potash to the agriculture sector for many decades, with a mine life of over 40 years projected.

View full PWN profile View Profile

Parkway Minerals NL Timeline

Related Articles

Drill rigs in Mongolia
May 04 2018
The recent discovery hole at Zaraa intersected 606 metres at 0.36% copper and 0.32 g/t gold.
Golden Arrow Resources continuing towards production in Argentina
October 04 2017
In May, the group formed a joint venture, which combines the Chinchillas project with Silver Standard's producing Pirquitas operation in Argentina
teal mining
July 26 2018
Arrowhead has valued Intermin shares’ total fair market value at $103.18 million to $109.54 million.

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use