Australian Potash Limited Executes Land Access Agreement for West Arunta Nexus Project
APC (APC) Share Update September 2024 Tuesday 17th
Australian Potash Secures Land Access Agreement for West Arunta Exploration
Australian Potash Limited (ASX: APC) has announced the successful execution of a Land Access Agreement for exploration in the West Arunta region of Western Australia, marking a significant step forward for the company's Nexus Project.
Instant Summary:
- Land Access Agreement signed with Tjamu Tjamu Aboriginal Corporation.
- Agreement covers large areas of the West Arunta region, including APC's Nexus Project.
- APC granted tenure and access to conduct exploration activities.
- Next steps include heritage clearance assessment and initial non-intrusive exploration.
Agreement Details
Australian Potash Limited (ASX: APC) has successfully executed a Land Access Agreement for Exploration with Tjamu Tjamu (Aboriginal Corporation), the Registered Native Title Body Corporate for the Kiwirrkurra Native Title Determination area. This agreement is a crucial milestone for APC's Nexus Project, located in the West Arunta region of Western Australia.
The Determination recognizes the existence of native title rights and interests over the entire determination area, which includes large portions of the West Arunta region. A significant part of this area is also an Aboriginal Reserve, with access managed by entry permits under the Aboriginal Affairs Planning Authority Act 1972.
Exploration Plans
Under the terms of the Agreement, Tjamu Tjamu AC has granted APC the necessary tenure to conduct exploration activities on the designated tenements. This includes access to the Aboriginal Reserve for exploration purposes. Managing Director & CEO Matt Shackleton expressed gratitude for the respectful and productive meetings with the Kiwirrkurra common law holders, which facilitated the agreement.
APC's next steps involve proposing work programs to Tjamu Tjamu AC for heritage clearance assessment. The company has been collaborating with geophysics consultants to plan air-borne magnetic and ground-based gravity surveys, as well as with geological consultants to design initial on-ground, non-intrusive mapping and rock chipping programs.
Initial Focus and Future Prospects
The initial focus area for exploration is highlighted in a filtered gravity color image over a filtered magnetic image, showcasing regional gravity anomaly highs that coincide with a prospective Neoproterozoic bedrock belt over a 25-kilometer strike length. This area will be the primary target for non-invasive surveys and on-ground exploration following the successful agreement with Tjamu Tjamu AC.
APC also holds a 100% interest in other significant projects, including the Lake Wells Gold Project and the Laverton Downs Project, both located in Western Australia's Eastern Goldfields. These projects are prospective for various minerals, including gold, nickel, and other base metal sulfides.
The execution of the Land Access Agreement is a positive development for Australian Potash Limited, potentially enhancing the company's exploration capabilities in the highly prospective West Arunta region. This agreement may boost investor confidence and positively impact the company's stock price as exploration activities commence and progress.
Investor Reaction:
Analysts are likely to view this agreement favorably, as it opens up new exploration opportunities for APC in a region with strong potential for rare earth and critical mineral element deposits. The respectful engagement with the Kiwirrkurra common law holders also reflects well on the company's commitment to ethical and responsible exploration practices.
Conclusion:
Investors should keep an eye on Australian Potash Limited's upcoming exploration activities and heritage clearance assessments in the West Arunta region. The successful execution of the Land Access Agreement marks a significant step forward for the Nexus Project, and the company's strategic approach to exploration could yield promising results.