Great Western Exploration has obtained financial support from the Government of Western Australia (WA) for its forthcoming diamond drilling programme at the Oval and Oval South copper-gold targets.
This initiative is part of the state’s Exploration Incentive Scheme (EIS).
The latest funding from the WA Government will contribute to the costs of diamond drilling at these copper-gold targets.
Great Western will benefit from a subsidy covering up to 50% of the drilling expenses, capped at A$113,000 ($73,671), in addition to A$5,000 towards the costs of drill rig mobilisation.
Currently, Great Western is finalising the necessary access approvals to commence drilling.
The company’s progress in securing government backing underscores the potential economic and strategic importance of these mineral targets in the region.
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By GlobalData
The company views this co-funding as a strong validation of the prospectivity of the Oval and Oval South targets.
This funding aims to bolster exploration activities within the Yerrida North Project, situated nearly 800km north-east of Perth.
The targets are also adjacent to the DeGrussa and Monty Cu-Au volcanic hosted massive sulphide deposits.
Geophysical studies suggest these sites could host substantial mineralised systems similar to the Winu and Haverion deposits.
In the late 1990s, a Rio Tinto Tempest airborne electromagnetic survey defined the Oval and Oval South targets.
Rio Tinto drill-tested the Oval target, drilling a hole to a depth of 232m and terminating the hole within black shale with disseminated pyrite, considered at the time to be the source of the conductor.
