Parkway Minerals Increases Dinner Hill Resource

THE DRILL SERGEANT: Parkway Minerals (ASX: PWN) has updated the phosphate and potash resources at the wholly-owned Dinner Hill deposit, located north of Perth.

Parkway Minerals’ Dinner Hill deposits is situated within the company’s 100 per cent-owned Dandaragan Trough fertiliser project area.

The Dinner Hill deposit now boasts an Indicated and Inferred Phosphate Mineral Resource of 630 million tonnes at 1.85 per cent phosphorus pentoxide (P2O5).

Within this phosphate resource there is an Indicated Mineral Resource of 160 million tonnes at 2.45 per cent P2O5 and an Inferred Mineral Resource of 470 million tonnes at 1.7 per cent P2O5.

The Dinner Hill Deposit area comprises Exploration Licence’s E70/3987 and E70/4138, which cover a combined area of 332 square kilometres.

Within this, the resource covers an area of approximately 52 square kilometres and the Exploration Target covers an additional 40 square kilometres.

Parkway Minerals explained the principal potash mineralisation is associated with the phosphate Resources within the Molecap Greensand, which contains Indicated and Inferred potash mineral Resources of 630 million tonnes at 4.4 per cent potassium oxide (K2O).

This marks a 250 per cent increase in tonnes and a 16 per cent grade increase compared to the company’s previous estimate published in June 2015.

An additional Indicated and Inferred Mineral Resource of 280 million tonnes 2.6 per cent K2O occurs marginal to the phosphate resource.

“The restrictions to the Resource, caused by metallurgical constraints, has caused the removal of some areas, previously included as Indicated Resource, from the resource inventory,” Parkway Minerals managing director Patrick McManus said in the company’s announcement to the Australian Securities Exchange.

“These have been replaced with areas which have not been drilled to the same density and which are classified as Inferred Resource.

“The Resource area now covers 52 square kilometres within the Dinner Hill project area.

“Based on the positive testwork carried out by KEMWorks we believe that further testwork may allow some of the material removed from the resource to be re-included”

Email: info@parkwayminerals.com.au

Website: www.parkwayminerals.com.au