Reward Minerals (ASX: RWD) has been granted the key mining lease for its Lake Disappointment Potash project, allowing it proceed with the first stage development.
The award of Mining Lease 45/1227 covering 3,469 hectares by the Western Australia Department of Mines and Petroleum also paves the way for the grant of Miscellaneous Licence L45/302 shortly.
This will allow Reward to begin installation of access roads and camp facilities.
It also forms part of the Mining and Indigenous Land Use Agreement between Reward and the Martu people, allowing the company to register the agreement as an Indigenous Land Use Agreement.
Lake Disappointment has an Indicated Resource of 24.4 million tonnes of Potassium Sulfate based on 30 holes drilled on a 5 kilometre by 5 kilometre grid.
Reward plans to complete infill drilling on 2 kilometre by 2 kilometre grid this year to upgrade resource status for feasibility studies.
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