Parkway Minerals NL (ASX:PWN) has been granted a US Patent for its K-Max® potassium extraction process.
The K-Max process was developed to treat potassium rich minerals, including glauconite, to produce sulphate of potash (SOP).
Parkway has a major land holding over one of the world’s largest known glauconite deposits, covering over 1,050 square kilometres in the greensand deposits of the Dandaragan Trough.
Large, near surface deposits with existing infrastructure
The Dandaragan Trough in Western Australia’s Perth Basin contains substantial deposits of greensands, consisting principally of a mixture of quartz sand and glauconite.
Parkway managing director Patrick McManus said: “Granting of this patent, and others in key countries, confirms the potential of the K-Max® process.
“It is particularly valuable to the Dandaragan Trough, where we have very large, near surface deposits, with existing infrastructure, close to export ports in a region that imports 90% of its phosphate and potash needs.”
READ: Parkway Minerals' stake in Davenport Resources increases to 34.3% after meeting potash milestone
The company owns 37.2 million shares (34%) of Davenport Resources, which owns a potash exploration project in the South Harz region of Thuringia, Germany.
Davenport recently revealed an inferred resource of 577 million tonnes at 12.1% potassium oxide within its Ebeleben Mining Licence.