Strickland Metals Ltd (ASX:STK) has executed a Native Title Land Access and Exploration Agreement (LAEA) with the Tarlka Matuwa Parku Aboriginal Corporation (TMPAC) for the land covering the company’s Yandal Project in Western Australia.
Strickland has been working with TMPAC on the LAEA, which Strickland says will provide continuing development of the Yandal Project and significant benefits to TMPAC and the broader community.
In May this year, Strickland began a merger and acquisition strategy to create the Yandal Gold Project, which has so far helped it to increase its resource base from 150,000 ounces to more than 600,000 ounces of gold in less than three months.
Thanks to TMPAC
Strickland CEO Andrew Bray said the agreement was achieved thanks to a “collaborative and cooperative approach”.
“I’d like to particularly thank the Traditional Owners for their willingness to engage with Strickland in good faith, and for the mutual trust both parties have built throughout the preceding months, I’m very confident this approach will lead to the best outcome for all parties,” he said.
“We are excited to work with TMPAC to add value to our Yandal project and will continue to work in the spirit of cooperatively advancing our targets for the benefit of all stakeholders.
TMPAC has entered the agreement with Strickland on behalf of the Wiluna People who are the recognised Native Title holders of the land covering the Yandal Project area.
Strickland says it has established a collaborative relationship with TMPAC, enabling them to negotiate the agreement that respects the heritage of the area and ensuring ongoing benefits to the local community, whilst providing the company with the certainty required to continue its rapid gold exploration programs.
TMPAC and the broader Wiluna community will receive significant economic, social and environmental benefits, including:
- Annual community benefit payments;
- Community support programs;
- Aboriginal business development and contracting opportunities; and
- Heritage and land management opportunities.
Strickland has also issued 1.85 million of its shares to TMPAC, representing $100,000 multiplied by the 5-day VWAP of the company’s shares immediately prior to September 30, 2021.
Drilling program
The agreement allows Strickland to expedite its ongoing exploration programs.
“Drilling is proceeding very well and the first batch of assays are expected this week,” Bray said.
“Having this agreement in place gives us greater certainty and flexibility when planning follow up drilling.
“As part of this agreement, TMPAC has committed to completing heritage surveys at the Iroquois and Millrose prospects as a matter of urgency, which are expected to be completed in the coming weeks.”
- Daniel Paproth