Group 6 Metals (ASX:G6M) has been awarded exploration grants totalling $75,000 by the Tasmanian State Government through the Exploration Drilling Grant Initiative (EDGI).
The company reports the grants will co-fund (50%) direct drilling costs associated with the planned exploration activities on its licence surrounding the Dolphin Tungsten Mine, located on King Island in Tasmania.
Under the timing requirements of the grants, Group 6 Metals plans to mobilise a drill rig to King Island in October 2022 to complete the proposed program.
It plans to drill four diamond drill holes testing the western margin of the Grassy Granite at the Investigator 24 Prospect and north of the Investigator 21 Prospect.
Commenting on the grants, Group 6 Metals Chief Executive Officer Keith McKnight said: “Construction activities at the Dolphin Tungsten Mine are progressing well and the company is focused on the achieving its aim to produce first concentrate in Q1 2023.
“the company is focused on the achieving its aim to produce first concentrate in Q1 2023”
While the mine currently has confirmed Reserves for 14 years of mine life, there is a significant area of 67Km-square under an exploration licence surrounding the Dolphin mining lease, which is relatively underexplored.
The company is very pleased to have received financial support from the Tasmania State Government under the EDGI grant scheme, to undertake exploration drilling at the Investigator 21 and 24 prospects later this year.
The Investigator prospects are located approximately 6km west of the Dolphin Tungsten Mine and drilling completed by the company at Investigator 21 in 2018, identified similar mineralisation to the Dolphin Tungsten Mine, with one significant intersection of 3.3m @ 1.7% WO3.”
Group 6 Metals, previously known as King Island Scheelite (ASX:KIS), is an Australian resources exploration and development company.
The company is focused on the redevelopment of its 100%-owned Dolphin Mine located on King Island. Initially the focus is on producing a ‘high-grade’ of tungsten concentrate, however, plans are to value-add the product for supply into the upstream tungsten industry.
Images: Group 6 Metals Limited
