Western Mines Group (ASX:WMG) has received two Exploration Incentive Scheme (EIS) grants, totalling $440,000, for further drilling at the Mulga Tank Project in Western Australia.
As part of the Western Australian Government’s EIS incentive, the company will receive up to $220,000 of co-funding towards 50% of direct drilling costs for a further deep exploration hole within the main body of the Mulga Tank Complex, as well as an additional $220,000 towards two diamond drillholes.
The two diamond drillholes will target the 1.3km-long komatiite body within tenement E39/2134.
Western Mines, which has a market capitalisation of $11.74 million, plans to use the funding to drill another deep more than 1,500m diamond hole into the Mulga Tank Ultramafic Complex as follow-up to the diamond drilling program and hole MTD029 drilled last year.
Chairman Rex Turkington says the first award will be used to drill a deep hole aimed at testing the mobile magnetotelluric target at the base of the Mulga Tank Complex.
“The second award will step out to test the komatiite channels up the belt, looking to capture the stratigraphy of the system and target the basal contact,” Turkington says.
Under the terms of the two grants, Western Mines is able to begin drilling of the EIS holes any time after 1 June 2025 and they will be included in the exploration plans of 2025.
The Mulga Tank Project is a discovery of an extensive magmatic nickel sulphide mineral system. The project is prospective for nickel-cobalt-copper-platinum group elements and is located on the underexplored Minigwal Greenstone Belt.
Western Mines Group is a diversified mineral explorer focused on its portfolio of projects on major mineral belts in Western Australia.
Write to Aaliyah Rogan at Mining.com.au
Images: Western Mines Group
