Lycaon Resources Ltd. (AU:LYN) has released an update.
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Lycaon Resources Ltd has announced the commencement of its maiden drill program at the Stansmore Nb-REE/IOCG target, scheduled for early November, with Topdrill contracted to carry out the drilling. The program, bolstered by a $180,000 Western Australian Exploration Incentive Scheme funding, aims to explore the significant magnetic anomaly believed to be indicative of valuable mineral deposits, similar to other major finds in the region. The drilling seeks to capitalize on the area’s history of successful geophysical anomalies exploration and is backed by recent geophysical modelling.
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