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.
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.
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.