Lycaon Resources Ltd. (AU:LYN) has released an update.
Lycaon Resources Ltd has received the maximum government co-funding of $180,000 for exploration drilling at their West Arunta Stansmore Niobium-REE Project in Western Australia, with drilling scheduled for mid-year. The project, which is in close proximity to significant recent discoveries, targets magnetic anomalies potentially indicative of Niobium-REE Carbonatite or Iron-Oxide Copper Gold systems. Southern Geoscience Consultants has assisted in the preparatory geophysical review and 3D inversion of magnetic data to refine drill targets for the upcoming maiden drill program.
For further insights into AU:LYN stock, check out TipRanks’ Stock Analysis page.