EXPLORATION & CORPORATE HIGHLIGHTS
- Tychean continues to maintain a 15% interest in the Tanami Joint Venture with Ramelius Resources, which is free-carried until a decision to mine.
- Ramelius undertook lag and shallow vacuum drill hole geochemical sampling over the western half of the Highland Rocks ELs during the quarter.
- Spargoville Gold Project nearing conclusion for Tychean, whereby Maximus set to acquire 100% interest upon issuing Tychean with remaining number of shares as per new Sale and Purchase agreement.
- Tychean has been successful in its application for participation in the federal government’s Exploration and Development Incentive Scheme (EDI) whereby 100% of the estimated greenfields minerals expenditure applied for, have been made available.
Tychean’s Cash Balance as at June 30 was $0.288 Million.
Tychean continues to conduct detailed due diligence on new project opportunities both within and outside of resource exploration.
Ann: Quarterly Activities and Cashflow Report-TYK.AX, page-2
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