A cashed up Great Southern Mining Limited (ASX:GSN) has added further to its exploration was chest with the approval of the first payment of A$109,000 relating to the co-funded drilling campaign at the company’s Cox’s Find Gold Project under the WS government’s 2020 Exploration Incentive Scheme.
The balance of the total grant of A$136,000 is anticipated early in 2021 upon acceptance of the final report.
CEO, Sean Gregory, said the funds will add to the recently completed share placement, which raised A$3.12 million before costs. The first major deployment of these funds is set to be the planned follow-up drilling at Cox’s Find and Mon Ami, which is scheduled to commence next week.
Mr Gregory said previous drilling advanced the company’s understanding of the structural controls on mineralisation at Cox’s Find and included spectacular gold results previously announced to the market of up to 5m @ 80.0 g/t Au from 160m including 1m @ 404 g/t Au.
The company has also been advised that its application to participate in the 2021 Exploration Incentive Scheme has also been successful. This grant will be for up to A$150,000 of direct drilling expenditure matched dollar-for-dollar with the company on the Mt Weld Project, which is immediately adjacent to the Mt Weld Rare Earths Mine, south of Laverton in Western Australia.
I would like to take this opportunity to thank the WA Government for their continued support of the exploration industry through the Exploration Incentive Scheme,” Mr Gregory said.
“The grants are a meaningful contribution that encourages exploration companies such as GSN to think big and go after substantial discoveries. Significant benefits flow to the broader mining and services industry, and WA economy, from the ongoing operation of the EIS.”