Redcastle Resources (ASX:RC1) has secured funding from the Western Australian Government to undertake diamond drilling north of Queen Alexandra, within its namesake project.
The company is a successful applicant of the 30th round of the government’s Exploration Incentive Scheme (EIS) on the condition that it conducts the drilling between 1 December 2024 and 30 November 2025.
Redcastle will receive up to $67,500 to drill a single diamond hole, which the explorer says will be incorporated into an imminent reverse circulation drilling program.
The technical team is currently examining the availability of a suitable diamond drill rig, down hole induced polarisation (DHIP) equipment and specialist personnel to see whether this complementary scenario is achievable.
Redcastle says the drillhole will test the geophysically interpreted structure to the north of Queen Alexander.
“This result further underlines Redcastle’s commitment to the advancement of the Redcastle Project area and the calibre of its exploration team’s expertise,” the company says.
The diamond drillhole will provide core assays as well as local geological information on the interpreted geophysical structure being drilled.
Redcastle adds that once drilled, the DHIP will be used to explore for sulphides, which may be an indicator of potential gold mineralisation within a radius of up to 1km from the EIS drillhole.
The drill core, alongside other necessary geological information, will be submitted to the Department of Energy, Mines, Industry Regulation and Safety, as part of the EIS agreement.
The Redcastle Project, covering 1,088 hectares, is located 58km east-southeast of the Gwalia Gold Mine in the Leonora-Laverton area — which is an area hosting multi-million-ounce gold deposits within the greenstone belt of the eastern Yilgarn.
Redcastle Resources is a mineral explorer that has an immediate focus on its wholly owned namesake project in Western Australia.
Write to Aaliyah Rogan at Mining.com.au
Images: Redcastle Resources
