Parkway Minerals (ASX: PWN) Commences POC Drilling On Lake Barlee

KEY TAKEAWAYS:

• In its latest update released on 6 June, 2018, Parkway Minerals revealed its plans to commence Proof of Concept drilling program on Lake Barlee.
• To be able to dig deeper into the channel of the lake, Parkway has hired a rig specialized
  in lake drilling from Ausdrill and with men and machine likely to be deployed to the site
  on 11 th June, the operation is scheduled to begin within the next two weeks.
• After the ground water sample having provided encouraging results, MD of Parkway, Patrick McManus said that the company was looking forward to test samples acquired from deeper channels.

Parkway Minerals released an update on 6 June, 2018, announcing its plans to commence the
POC – Proof of Concept – drilling program on Lake Barlee, over which the company enjoys
100% ownership. Referred to as the ‘Salt Lake Project’, the site is located halfway when you
travel from Sandstone to Southern Cross and vice versa.

Lying to the east of the well-known Wheat Belt in Western Australia, this site is not just replete
with minerals, but is also equipped with excellent infrastructure and transport facilities, courtesy
of being in close proximity with major roadways and rail depots. Over the expanse of 1956 square kilometers of Lake Barlee that Parkway owns, the company intends to look for potash in the brine entrapped within the basement rock. As per the report submitted by the consulting hydrologist, there are likely to be deposits on seismic lines placed between 2-8 kilometres and comprising of 10 holes.

Owing to Parkway’s intention of digging into deeper channels, for this project, the company has
opted for a specialized rig from Ausdrill, which is apt for undertaking drilling of lakes. With men
and machine scheduled to being moved to the site on 11 June, the operation is likely to commence in two weeks time.

Patrick McManus, Managing Director of Parkway Minerals said that the intention underlying this project was to confirm if Lake Barlee could be regarded as a potential source of sulphate of potash. He went on to say that the company is looking forward to evaluating the samples which would be retrieved from a deeper channel, after the sample of ground water having provided encouraging results.

About Parkway Minerals (ASX: PWN)

Focused on fertiliser feedstocks, both potash and phosphates. Projects are large, promising long-term supply within regions that are currently importing their fertiliser needs. The company has exploration assets at different stages of maturity, from early stage to feasibility, and an active programme to develop them. Parkway has cash plus shares valued at $4M.

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