Sign up Australia
Proactive Investors - Run By Investors For Investors

Parkway Minerals to benefit from German potash resource

Parkway Minerals owns 19.3 million shares in Davenport Resources.
Close-up of colored map of Europe zoomed in on Germany
Davenport Resources listed on the ASX in January 2017

Parkway Minerals (ASX:PWN) has a 26% stake in Davenport Resources (ASX:DAV) which owns a potash exploration project in the South Harz region of  Germany.

The 650+ square kilometre South Harz Potash Project consists of three perpetual mining licences recently purchased from the German government and two exploration licences.

Historical drilling and mining in the South Harz potash basin demonstrate that the licences are underlain by a continuous potash horizon.

As part of the ongoing review of the historical data, Davenport has confirmed a resource of 221 million tonnes at 16.7% potassium oxide under the non-JORC C2 classification.

The detailed information supporting this historical resource estimate will allow Davenport to fast track cost-effective brownfields evaluation of the area with the aim of reinvigorating the South Harz as a globally significant potash producing region.

Davenport anticipates that a minimum number of carefully located confirmation drill holes can readily validate these historical resources to allow conversion to JORC 2012 standard.

Further historical resources on the other mining licences within the project will be released as the data is reviewed.

Patrick McManus, managing director, commented: ”The Davenport announcement is the first of several expected from the very significant amount of exploration data that has come as part of the purchase of three perpetual mining licences by Davenport. Further reports will be released in the weeks ahead.”

READ NOW: Parkway Minerals defines drill targets with seismic survey

View full PWN profile View Profile

Parkway Minerals NL Timeline

Related Articles

Wolf quarterlies highlight progress with Hemerdon tungsten project
January 31 2017
Wolf has restructured debt and secured a firmer hold on its operating Hemerdon tungsten project in Devon
Tesla,_electric_car,_battery,_Lithium.png
March 23 2017
Having both lithium and graphite resources places Noram at a considerable advantage in the lithium-ion battery sector.
Kin Mining's Trevor Dixon talked release of the company's Definitive Feasibility Study at Proactive'
September 15 2017
Trevor Dixon talked pending DFS and gold ounce growth strategy at Proactive's CEO Sessions.

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 2017

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