The report indicates an inferred resource of 576.6 million tonnes at 12.1 percent potassium oxide at the company’s Ebelen mining license in Germany.
The Joint Ore Reserve Committee (JORC) report indicates an inferred resource of 576.6 million tonnes at 12.1 percent potassium oxide at Ebelen.
The resource includes mostly sylvinite, the most important source for the production of potash in North America, and carnallite, mined for both its potash and magnesium properties.
Ebelen is one of three perpetual mining licences in the South Harz Basin acquired by Davenport from German government agency Bodenverwetungs-und-verwaltungs. Under German mining law, the exploration licenses are granted for a term of five years with an option to renew for a further three years.
“This is the first of several areas in the recently acquired licences where we believe there is sufficient data to support the conversion of historic resources into mineral resources as defined by the Jorc code,” said Chris Gilchrist, Davenport’s managing director.
The JORC resource was prepared by Micon International based on historic exploration data.
“While Ebeleben is one of our smallest areas, Mincon has confirmed a significant resource that compares closely to both the historic resource and the recently-announced exploration target,” said Gilchrist.
Aside from its South Harz project, which includes two exploration licenses in Germany, Davenport is developing the Southern Cross bore project in Australia’s Northern Territory.
“We are now working to bring our remaining licenses to a similar level recognised by the JORC code and, if their exploration targets are realised, these areas will represent Europe’s largest declared potash resource,” Gilchrist added.
On Wednesday (April 17), shares of Davenport Resources were trading up 4.4 percent in Sydney at AU$0.94.
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Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.