carnarvon potash drilling

I think many believe Reward is a one-project company (Lake Disappointment). As I showed in a previous thread, Reward have a heap of high quality potash targets all throughout Australia. Some decent potash hits at our deep drilling MOP targets such as Carnarvon and/or Adavale would send the Reward share price soaring into the dollars range - like we have seen with ELM and STB (market caps of $400-500m). Reward is currently sitting at a very modest $40m MC. This is taken from the announcement on 16/11/09 regarding Carnarvon:


Although evaporites from RWDK0902 and earlier holes in this program contain only low levels of Potassium, the presence of combined water soluble evaporite intercepts of over 100 metres within the Yaringa Evaporite member of the Dirk Hartog Formation which so far spans over 300 metres in thickness in RWDK0902 in combination with (limited) available seismic data, suggest that a substantial evaporite basin exists within Reward's South Carnarvon tenements. Examination of the stratigraphy in the three holes drilled to date also suggests that the evaporite horizon has a shallow dip to the west and thickens in a westerly direction toward the WA coastline. RWDK0902 is located approximately 55 kilometres east south east of Carnarvon and 45 kilometres east of the coast (15 kilometres south of Carnarvon).
The seismic data also suggests that the low point of the Dirk Hartog Formation in an east west direction is close to the WA coastline. Assuming that evaporite deposition has proceeded to the Potash crystallisation stage and remained undisturbed, Potash minerals should be located at the low point of the evaporite basin possibly between the area drilled and the coastline. Reward's tenement holdings cover this area. The Company is currently considering the drilling of a further hole 25 kilometres south west of RWDK0902 some 6 kilometres from the WA coastline.