Parkway Minerals NL (ASX:PWN) has a 26% stake in Davenport Resources (ASX:DAV) which has today posted its maiden JORC resource.
Davenport's Ebeleben mining licence, part of the South Harz project area in Germany has produced an inferred resource of 577 million tonnes at 12.1% potassium oxide.
The resource comprises 324 million tonnes of silvinite at 15.6% potassium oxide and 253 million tonnes of carnallatite at 7.5% potassium oxide.
Demonstrates the South Harz region’s potential
Parkway’s managing director Patrick McManus said: “The prospectivity of the South Harz region is demonstrated by this announcement, which is the result of the review and analysis of data received via the purchase of mining licences from the German Government.
“The geological appraisal of the large amount of data received is still in progress.
“Importantly, the grade and tonneage of the Ebeleben Resource demonstrate the capability of the South Harz region to host very large deposits of silvinite and carnallatite”
The South Harz region of Thuringia in central Germany has been a potash producing area for over 100 years.
Ebeleben is the first of several areas in the recently acquired licences where Davenport believes there is sufficient data to support the conversion of historical resources into mineral resources as defined by the JORC Code.
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Parkway Minerals is focused on developing the Lake Barlee Salt Lake Potash Project northeast of Southern Cross in Western Australia.
It also owns the Dandaragan Trough Project north of Perth, containing extensive greensand deposits rich in potash and phosphates in Western Australia’s Perth Basin.