Lycaon Resources Prepares for Stansmore Drilling

Lycaon Resources Ltd. (AU:LYN) has released an update.

Lycaon Resources Ltd. has announced the scheduling of an Aboriginal heritage survey for its Stansmore Project in Western Australia, to commence on July 11, 2024, with the goal of clearing targets for ground-based geophysics and drilling in Q3 of the same year. The company’s Stansmore Project, which includes high-priority magnetic anomaly drill targets, may be prospective for Niobium-REE Carbonatite or Iron-Oxide Copper Gold mineral systems. Lycaon Resources has received a $180,000 grant for drilling at two of these sites, which aims to uncover significant mineralization beneath the surface.

For further insights into AU:LYN stock, check out TipRanks’ Stock Analysis page.