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Potash West (ASX:PWN) says East Exploration GmbH, which Potash West owns a significant stake in, has been granted exploration lincenses for Thuringia in Central Germany. These exploration licenses cover areas located within the South Harz potash district.
According to the press release:
PWN is earning 55% of East Exploration Pty Ltd, which owns 100% of EEG.
EEG is working with ERCOSPLAN Ingenieurgesellschaft Geotechnik und Bergbau mbH (ERCOSPLAN) to identify areas that have strong potential to contain significant potash mineralization.
Patrick McManus, managing director, said:
Granting of these licences is an important milestone in the project to develop a new mine in this historic mining region. There is a vast amount of information available from the, over 30 holes drilled on Kuellstedt and in close proximity to it. Evaluation of this data is in progress. This evaluation is being carried out by our consultant, ERCOSPLAN, who have a long standing association with potash mining in the region and their experience will inform the next stage of exploration. We are looking forward to the results of the review, expected within the next six weeks.
Click here to read the Potash West NL (ASX:PWN) press release
Click here to see the Potash West NL (ASX:PWN) profile.