THE BOURSE WHISPERER: Parkway Minerals (ASX: PWN) heralded its arrival into the Western Australian salt lake sector with the establishment of the Lake Barlee potash/lithium brine project, located northwest of Kalgoorlie.
Parkway Minerals has secured 10 exploration licenses covering 1,834 square kilometres of Lake Barlee, approximately 200km north of the township of Southern Cross in Western Australia.
Parkway has pegged nine exploration licenses, which are still in the application process, and recently agreed to purchase granted exploration licence 77/2347 from Dakota Minerals (ASX: DKO) giving the company a dominant landholding on the lake.
The company outlined its exploration strategy to be to locate paleo channels and brine volumes within the lake that may contain commercial concentrations of potassium and/or lithium brine.
Parkway said this was a similar exploration model used by existing salt lake potash explorers at sites within Western Australia.
The company believes that, should its exploration be successful, the Lake Barlee project could hold cost advantages to other WA potash brine projects as it is close to existing rail and other infrastructure.
“This transaction allows PWN to accelerate its evaluation program on Lake Barlee,” Parkway Minerals managing director Patrick McManus said in the company’s announcement to the Australian Securities Exchange.
“The region is very prospective as a source of potash from brines.
“Western Australia, Australia and our near regional neighbours are significant consumers of potash so there is a window of opportunity there for new local, low-cost supplies for the agricultural sector.”