Dreadnought Resources (ASX:DRE) has announced its receipt of confirmation the WA government will fund the company $0.3M to accelerate exploration.
The Exploration Incentive Scheme (EIS) program will lend the $300,000 with a view towards both drilling and geophys surveys at Mangaroon and Tarraji, respectively.
The drilling grants are for $150K each to fund RC drilling at the Tiger target within Mangaroon, and, at Tarraji, to fund an induced polarization survey.
That survey the company hopes will highlight additional targets similar to the existing ‘Grant’s Find’ copper-gold anomaly at Tarraji.
As for Mangaroon – the company anticipates to fire up the drills at some point in May of 2024.
The company flagged on Wednesday it was only one of 7 companies to receive EIS grants in the latest round.
“Dreadnought is pleased to continue to receive recognition and support from the Geological Survey’s EIS co-funded drilling program,” company chief Dean Tuck said.
“The program is highly competitive, and the awarding of
these grants further recognizes the technical merits and potential of Tiger and Tarraji.
“We look forward to commencing these
programs and we are already mobilising to Mangaroon Au.”
DRE last traded at 1.7cps.