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Lycaon Resources Ltd. ( (AU:SLA) ) just unveiled an update.
Solara Minerals reported that it has completed Stage 1 of a stepped drilling program at its Degrussa West gold-copper project, with assay results due in the coming weeks, and confirmed that recent surface electromagnetic surveying identified a north-dipping conductive feature coincident at depth with a strong magnetic anomaly. The company also secured a A$180,000 Exploration Incentive Scheme grant to test its Degrussa West VTEM/MLEM targets, finalised an UltraFine soil sampling program over the Wilgeena West tenement, signed a heritage agreement for its Bryah Basin portfolio with the Jidi Jidi Aboriginal Corporation, and continues to review acquisition opportunities aligned with its growth strategy, collectively advancing its exploration pipeline and de-risking future work programs in a highly prospective mining district.
The most recent analyst rating on (AU:SLA) stock is a Hold with a A$0.20 price target. To see the full list of analyst forecasts on Lycaon Resources Ltd. stock, see the AU:SLA Stock Forecast page.
More about Lycaon Resources Ltd.
Solara Minerals Limited is an ASX-listed exploration company focused on gold and copper projects in Western Australia’s Bryah Basin, a district that hosts several significant gold and copper-gold operations such as Fortnum, Peak Hill, Degrussa and Monty. The company’s portfolio includes the Degrussa West Au/Cu project and the Bryah Basin project areas, where it is targeting structurally and stratigraphically favourable zones and untested geophysical and geochemical anomalies prospective for gold and copper mineralisation.
Average Trading Volume: 52,516
Technical Sentiment Signal: Sell
For a thorough assessment of SLA stock, go to TipRanks’ Stock Analysis page.