The company is focused on developing fertiliser projects that are large-scale, near-market, low-risk and close to existing export infrastructure.
In Western Australia, Parkway is advancing its plus-1,050 square kilometre Dandaragan Trough Fertiliser Project, having established a mineral resource for the Dinner Hill deposit.
The company has also patented its K-Max potassium extraction process which produces sulphate of potash (SOP) from potassium-rich minerals.
Parkway chairman Adrian Griffin said in the company’s recent annual report that the future of the fertiliser industry would be driven by population growth.
He said: “Global population is forecast to increase by between 30-50% in the next 35 years, reducing the proportion of arable land per person by around 40%.
“Improvements in food production and the food supply chain as a whole are imperative if malnutrition is to be reduced and quality of life maintained worldwide.
“Fertilisers represent one of the most cost-effective means of achieving this.”
South Harz JORC resource
Parkway holds a 33% interest in Davenport which has exploration and mining licences in central Germany, including the South Harz project.
Davenport purchased three mining and two exploration licences from the German government, all of which are perpetual and have no expenditure commitment liabilities.
The licences were extensively explored in the pre-unification era and 455-million-tonne Soviet-era resources were examined with a view to converting them to JORC-compliance.
Based on this examination, Davenport established a JORC inferred resource of 324 million tonnes of silvinite grading at 15.6% potassium.
A comparative analysis conducted earlier this year established Davenport's enterprise value (EV) for its attributable potassium oxide resource at just 7 US cents per tonne of potassium.
In September Parkway undertook a resource update for its Dandaragan project, using aircore drilling results from 2011 and 2016, as well as 93 samples taken from four diamond drill holes completed in 2012.
Dandaragan is 175 kilometres north of Perth and sedimentary deposits of greensands within the trough contain glauconite, a potash-rich mica and phosphate nodules.
The main focus at Dandaragan is the Dinner Hill deposit but Parkway is also investigating the highly-prospective Dambadgee exploration target.
The Dinner Hill deposit contains an indicated mineral resource of 160 million tonnes at 2.45% phosphate and 4.2% potassium and an inferred mineral resource of 470 million tonnes at 1.7% phosphate and 4.4% potassium.
An additional indicated mineral resource of 50 million tonnes at 2.65% potassium and inferred mineral resource of 250 million tonnes at 2.6% potassium occurs marginal to the phosphate resource.
Extensive greensands at Dandaragan
A 40-hole aircore drilling program completed in the new financial year at Dandaragan in WA intersected thick, potassium-rich greensands at the Dambadgee exploration target.
The results demonstrated the Dambadee area has extensive and thick sequences of greensands, with a highlighted interval exceeding 50 metres at 3.8% potassium.
They also indicate the potential scale of Dandaragan’s potassium and phosphate resource.
Dambadgee was previously regarded as two areas, however the drilling program confirmed the prospect is one continuous zone.
Drill samples from Dandaragan
Parkway managing director Patrick McManus said: “This drilling has confirmed the potential of the Dambadgee prospect to host a very thick greensand unit, with high values of potassium.
“This will make an excellent target for using our K-Max® process … to produce SOP, phosphate fertilisers and other chemicals.”
The program also returned thick intervals of fresh greensands in the Poison Hill and Molecap formations which are beyond the eastern boundary of the current Dambadgee exploration target.
Significant intersections at Poison Hill include 22 metres at 3.18% potassium and 1.98% phosphate from 58 metres and 5 metres at 6.21% potassium and 1.24% phosphate from 76 metres.
Molecap greensand intersected 57 metres at 3.8% potassium and 1.6% phosphate from 92 metres and 22 metres at 4.41% potassium and 0.68% phosphate from 117 metres.
Concurrently to its exploration activities, Parkway has developed and patented a potassium extraction process which produces SOP, potassium magnesium sulphate (KMS), phosphoric acid, iron oxide and aluminium sulphate.
The process recovers the potassium from glauconite as SOP while phosphates and other chemicals are recovered in the process as by-products.
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.”
Test work carried out by Kemworks Technology Inc, specialists in phosphate process technology, highlighted the ability to use specialised processes to increase phosphate separation from raw ore.
A simpler, lower-energy flowsheet is likely to produce similar metallurgical results and further work is required to confirm this and to quantify the effects.