Reward Minerals (ASX: RWD) has received a long awaited recommendation from Western Desert Lands Aboriginal Corporation that Heritage Approval be granted for the Lake Disappointment Potash project.
Heritage Approval will complete the outstanding conditions of the Mining and Indigenous Land Use Agreement and paves the way for the registration and granting of mining licences for the project.
Reward has advised the WDLAC that it will comply with the conditions of the December 2011 agreement and the February 2012 Clearance Area Survey Report and to satisfy the commercial terms previously agreed to under the MILUA in December 2011.
It will proceed with payment of agreed costs and issue of the first tranche of Reward Options to WDLAC as required under the MILUA.
The relevant agreement documents will also be lodged shortly with the Native Title Tribunal for Registration as an Indigenous Land Use Agreement.
Reward has also prepared a Section 18 application for approval to establish an access track, exploration camp, pilot evaporation ponds and to conduct infill drilling of the Lake Disappointment Cleared Area.
The Miscellaneous Licence 45/302 required for the project access track is covered by the company’s recent application for Exploration Licence 45/4090 of 156 square kilometres that will extend its current Lake Disappointment project tenements north to the Talawana Track.
In 2007, Reward Minerals announced a JORC Indicated Resource of 24.4 million tonnes of Potassium Sulfate (Sulfate of Potash – SOP) within Lake Disappointment in the north west of Western Australia.
Lake Disappointment lies wholly within the Martu Lands Determination Area.
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