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

South Australia map
October 17 2018
The drilling program is designed to upgrade resources from an inferred to indicated category.
Witwatersrand Basin Project
The company is advancing its Witwatersrand Basin Project in South Africa and the Mt Cecelia Project in WA's Pilbara region.
October 24 2018
The company’s total mineral resource is now 8.4 million tonnes at 2.08 g/t gold for 562,000 ounces.

© 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