(Sharecast News) - Precious and base metals-focussed explorer and developer Greatland Gold has been awarded a grant from the Western Australian government to co-fund exploration drilling and mobilisation costs at its wholly-owned Ernest Giles project, it announced on Thursday.
The AIM-traded firm said the grant was the result of a successful application under the Exploration Incentive Scheme (EIS).
It said it would be eligible to receive up to AUD 0.22m (£0.12m) to co-fund drilling and mobilisation costs, for completion before 30 November next year.
"This drilling grant award for the Ernest Giles project will co-fund the commencement of a new exploration programme," said managing director Shaun Day.
"Ernest Giles is located in the Yilgarn craton, one of the most highly mineralised areas in the world and home to numerous gold deposits.
"With work advancing to finalise access, this grant then enables testing of priority targets at Ernest Giles, an underexplored and prospective part of the Greatland portfolio."
At 1538 BST, shares in Greatland Gold were up 1.82% at 8.4p.
Reporting by Josh White at Sharecast.com.
Greatland Gold (GGP)