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.
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