Lycaon Resources (ASX:LYN) has received consent from the Minister for Mines and Petroleum to kickstart mining activities at the Stansmore Project, located in the West Arunta region of Western Australia – following recent approval by the Minister for Aboriginal Affairs for exploration activities.
The company’s wholly owned subsidiary, West Arunta Resources Pty Ltd, has been granted permission to access the Ngaanyatjarra Central Australia Reserve, also known as Reserve 24923, to carry out exploration activities in line with the terms and conditions of the tenements.
The Stansmore Project, covering an area of 173km², holds significant potential for Niobium and Rare Earth Elements (REE). Recent Niobium results from WA1 Resources, located approximately 90km south of the Stansmore Project, have been promising, with discoveries demonstrating world-class potential in the West Arunta region.
“Further to the recent approval from the Minister for Aboriginal Affairs, it is pleasing to have received the ‘Consent to Mine’ from the Minister for Mines and Petroleum which now allows us to carry out exploration work programs and organise the necessary heritage clearances ahead of drilling targeted for mid-year. We are extremely excited to get our maiden drilling program underway as soon as possible,” Lycaon Resources Technical Directo Thomas Langley said.
With these approvals in hand, Lycaon Resources has lodged a Program of Works (PoW) with DEMIRS to initiate a helicopter-assisted drill program, pending positive heritage clearances. Heritage surveys are currently being planned with the Central Desert Native Title Services for late May.
LYN has been trading up almost 6% at 30 cents.