Parkway Minerals granted US patent for its potassium extraction process

K-Max process has the potential to lower the cost of sulphate of potash production from glauconite.

The process could be useful for the Dandaragan Trough

Potash Dandaragan

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.

Parkway Minerals’ shares up on back of increase in Davenport Resources’ potash resource

17 Apr 2018

Shares in Parkway rallied 8% after the increase in Davenport’s potash resource was announced.

Parkway Minerals NL (ASX:PWN) is a beneficiary of Davenport Resources Ltd’s (ASX:DAV) increase in its potash resource at the Mühlhausen-Nohra Mining Licence in Germany.

Parkway owns 37 million shares in Davenport, representing a stake of about 34%.

Release of an inferred resource

On April 10, 2018, Davenport announced an historical potassium oxide resource for two additional sub-areas of the Mühlhausen-Nohra Mining Licence, which is part of the South Harz project area.

This adds to the resource announced in November 2017 for the Mülhausen sub-area.

Parkway managing director Patrick McManus said: “Following the recent announcement of an inferred resource on the Ebeleben Mining Licence, this work confirms the potential of the mining licences within the South Harz project.”

115 million tonnes of potassium oxide

Previous work carried out at the Mühlhausen sub-area delivered an historical resource of 234 million tonnes at 14.4% potassium oxide for 33.8 million tonnes of contained potassium oxide.

This brings the total of the known historic resource lying within the Mühlhausen-Nohra Mining Licence to 115 million tonnes of contained potassium oxide.

This data will allow Davenport to prioritise areas for further exploration with the aim of establishing the project as Europe’s largest unmined potash field.

Parkway’s shares traded up 8% in response to the news.