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E79 Gold Mines Limited ( (AU:E79) ) has issued an announcement.
Scorpion Minerals has secured up to $196,505 in co-funding under Western Australia’s Exploration Incentive Scheme for a detailed airborne magnetic and radiometric survey and lithostructural analysis over its Pharos Gold Project and the Jungar Flats joint venture. The work, to be flown by MAGSPEC and interpreted by Southern Geoscience, will infill existing high-resolution data and be complemented by expanded high-resolution satellite imagery to refine structural understanding and target generation.
The funding underpins an intensive near-term exploration and development program at Pharos, including infill and extensional RC drilling, diamond drilling at depth, definition of an exploration target and mining studies at Old Prospect, alongside follow-up drilling across regional targets. By advancing these programs and progressing the conversion of Old Prospect tenements to a mining lease, Scorpion aims to solidify its position as a leading explorer in the Murchison and unlock value from its dominant and largely untested ground along the Dalgaranga–Big Bell corridor.
More about E79 Gold Mines Limited
Scorpion Minerals Limited is an Australian exploration company focused on gold and base metal projects in Western Australia, particularly within the highly prospective Murchison region. Through its Pharos Gold Project and the adjacent Jungar Flats joint venture with E79 Gold Mines, the company has assembled the largest landholding along the Dalgaranga–Big Bell shear corridor, a largely underexplored structural belt.
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Technical Sentiment Signal: Sell
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