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Davenport’s potash resource gets bigger - The Pick Online Magazine

Written by Staff Writer | Nov 13, 2018 6:30:08 PM

Germany-focused potash play Davenport Resources has added a further 1.7 billion tonnes of potash for the northern portion of its wholly‐owned Mühlhausen‐Nohra Mining licence in Germany’s South Harz region, increasing its total inferred potash resource to over 3.4 billion tonnes.

Importantly, the resource – which grades at 9.7% K2O – boasts a high-grade sylvinite resource of 101 million tonnes at 14.2% K2O while carnallitite resource comes in 1.6 billion tonnes at 9.4% K2O.

The Nohra‐Elende resources area is also shallow, starting at 447m below surface with an average carnallitite thickness of 26 metres.

Another positive is the resource contains extremely low levels of insoluble minerals (< 0.6%) which augers well for ease of metallurgical processing. The latest resource has seen Davenport boost its total resource to over 3.4 billion tonnes (grading 10.5 % K2O) of JORC Inferred Resources from its Ebeleben and Mühlhausen‐ Nohra Mining Licences, including 1.2 Billion tonnes of Sylvinite grading 13.2% K2O.

We are delighted with yet another large resource update that further confirms the quality of Davenport’s assets in Germany,” Davenport Managing Director Dr Chris Gilchrist said.

“This is the third of the areas where we have sufficient data to support a JORC Inferred Resource. As with the Ebeleben licence area and the Mühlhausen‐Keula sub‐area, Micon International Co Ltd has again confirmed an extremely large and high‐quality resource within the northern part of our Mühlhausen‐Nohra Mining Licence.

“With a current total of now over 3.4 billion tonnes of JORC Inferred Resources under our control, we are one step closer to declaring Europe’s largest potash resource,” he added.

Dr Gilchrist said further review work of historical data from our Küllstedt licence was ongoing and permitting to drill early in 2019 had made satisfactory progress and was now at an advanced stage.

The company will now seek to upgrade its JORC Inferred Resources to Indicated Resources via confirmation drilling in selected areas.

Once Inferred Resources are upgraded to Indicated category during H1 2019, Davenport will complete an economic study by the end of 2019.

Shares in Davenport were trading at 8c on Tuesday.