Hamelin Gold prepares to kick off co-funded drill program at West Tanami Project, WA

Hamelin Gold (ASX:HMG) is set to kick off an Exploration Incentive Scheme (EIS) co-funded drilling program in early August at the Le Beau and Schultz prospects within its West Tanami Project in Western Australia. 

Further, in its latest quarterly report, the $15.43 million market capitalisation company says it has been approved for up to $375,338 from the Junior Mining Exploration Incentive (JMEI) of 2023/2024 company tax losses, which may be distributed to eligible incoming shareholders before 30 June 2024. 

The JMEI scheme encourages investment in exploration companies that conduct greenfield mineral exploration in Australia by allowing these companies to give up a portion of their tax losses for potential distribution to eligible investors. 

As of 30 June 2023, the company had $7.7 million cash at hand.

Meanwhile, Hamelin says a regional 160-hole program for more than 10,000m of aircore drilling has begun at the Newkirk, Fremlins, Olsen, and Klinger prospects within West Tanami. 

At Klinger, a single north-south traverse of aircore holes across the interpreted mafic-ultramafic intrusion is planned for August 2023. The aim of this program is to determine the nature of the bedrock geology and uncover any areas of nickel-copper-platinum group elements (PGE) anomalism within the regolith. 

Hamelin says if the evaluation of the nickel-copper-PGE targets generated across the West Tanami Project proves to be ‘successful’, an airborne electromagnetic (EM) survey will be considered to expedite the exploration of the project. 

During the past quarter, a number of priority locations were selected for the initial application of soil sampling and analysis using CSIRO-developed ultrafine technology. 

About 5,000 samples will be collected in the coming months, with the initial trial program to be completed at the Sultan, Newkirk, Olsen, and Far Southwest prospects. The company notes that assay results from these initial trial surveys will be reported during September and October 2023. 

Hamelin Gold is an ASX-listed gold exploration company based in Perth, Western Australia. The company has a landholding of 2,489km-square in the Tanami Gold Province, which is ‘highly prospective’ for ‘high-value and large-scale’ gold deposits.

Write to Aaliyah Rogan at Mining.com.au

Images: Hamelin Gold Ltd
Author Image
Written By Aaliyah Rogan
Relocated from the East Coast in New Zealand to Queensland Australia, Aaliyah is a fervent journalist who has a passion for storytelling. When Aaliyah isn’t writing stories, she is either spending time with friends and family or down at the beach.