Exploration and development company MetalsGrove Mining (ASX:MGA) has been awarded a government grant of $69,393.40 to fund upcoming drilling at its Bruce Rare Earth (REE) prospect in the Northern Territory.
The grant was issued under the Geophysics and Drilling Collaborations program, funded by the Northern Territory government’s Resourcing the Territory program.
MetalsGrove says the 2,000m drilling program will begin shortly and will be testing ‘high-priority’ targets, including the broad conductor and ‘large’ intrusive system at the prospect.
Commenting on the successful grant application, MetalsGrove Chief Executive Officer (CEO) and Managing Director Sean Sivasamy says: “We are delighted to have been awarded this funding via the NT Government’s Resourcing the Territory initiative and would like to thank the NT Government for their support of MGA.
“The Arunta region is a world-class mineralised province and, as MGA, we have put in place a clear strategy to fast-track our exploration in the region…”
The Arunta region is a world-class mineralised province and, as MGA, we have put in place a clear strategy to fast-track our exploration in the region and unlock value for MGA shareholders. I look forward to providing the market with regular updates on our progress.”
The Bruce REE prospect is located within the company’s Arunta Project in the Central Desert region of the Northern Territory and covers an area of about 17,722 hectares.
MetalsGrove notes previous work completed within the broader Arunta Project area has confirmed the presence of REE anomalism associated with copper-gold and base metal mineralisation.
MetalsGrove Mining is an Australia-based company focused on the exploration and development of its ‘high-quality’ portfolio of lithium, REE, copper-gold, manganese, and base metal projects in Western Australia and the Northern Territory.
Images: Metalsgrove Mining Ltd
