Davenport unveils Maiden JORC Resource for Ebeleben potash
Davenport Resources (ASX:DAV) this morning revealed a JORC 2012 Inferred Resource of 576.6 million tonnes at 12.1 per cent potassium oxide (K2O) for its Ebeleben licence in Germany's South Harz region.
The Resource, which was confirmed by high-profile mineral industry consultancy, Micon International, based on available historic exploration data.
The Resource comprises mostly sylvinite (324 million tonnes at 15.6 per cent K2O) and carnallitite (252 million tonnes at 7.5 per cent K2O).
Ebeleben is one of three mining licences in the South Harz Basin that DAV recently acquired from German government agency, Bodenverwertungs-und-verwaltungs GmbH (BVVG).
The Ebeleben area was explored during the 1960s and 1980s under former GDR state control, and was at one stage to be developed as an extension of the adjoining Volkenroda Mine, from where 27.4 Mt of potash was extracted.
Location of the Ebeleben mining license area showing adjoining mining license areas, Mühlhausen and Ohmgebirge
Of course, as with all minerals exploration, success is not guaranteed — consider your own personal circumstances before investing, and seek professional financial advice.
Micon continues to model data from DAV’s adjoining South Harz licences, with a view to confirming additional JORC Resources.
DAV is aiming to reinvigorate Germany’s South Harz area as a globally significant potash producing region.
DAV managing director, Chris Gilchrist, said: "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.”
“Whilst Ebeleben is one of our smallest areas, Micon has confirmed a significant resource that compares closely to both the historic resource and the recently-announced exploration target.”
“We are now working to bring our remaining licenses to a similar level recognized by the JORC Code, and, if their exploration targets are also realised, these areas will represent Europe's largest declared potash resource."
Encouragingly, this latest development comes less than a week after DAV’s announcement of a maiden Resource for its Johnnies Reward gold-copper play in the Northern Territory.
S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of Longhou Capital Markets Pty Ltd (AFSL No. 292464). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.
Conflict of Interest Notice
S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.
The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.