THE BOURSE WHISPERER: Potash West has been granted three new Exploration Licences covering the central and western portions of the Dandaragan Trough, located 60 kilometres north of Perth in Western Australia.
The tenements, E70/4137, E70/4138 and E70/4139, have a combined area of 620 square kilometres.
Potash West said the new tenements consolidate its 2,905sqkm holding over the Dandaragan Trough.
Dandaragan trough project area showing newly granted tenements. Source: Company announcement
The company is set to immediately commence negotiations with landowners in order to acquire surface rights to the more prospective areas of the tenements.
Once it has received approvals to commence its work programs, the company said it anticipates to be drilling on the newly granted tenure by the end of the year.
“The granting of these three tenements consolidates our dominant land holding in the world-class Dandaragan Trough,’ Potash West managing director Patrick McManus said in the company’s announcement to the Australian Securities Exchange.
“Having such a dominant position enables Potash West to accelerate our regional exploration program.”
June is shaping up as a hectic time for the company with a 2,500m drilling program at Marchagee and Walyoo Hill scheduled to commence in the first week of the month.
In the third week of June the company anticipates up to 10,000m of air core drilling will begin at the Dinner Hill prospect.
The drilling program is designed to test the continuity of the greensand host unit at Dinner Hill and provide sufficient sample density for the definition of a JORC-compliant potash resource.