Caspin Resources (ASX: $CPN) awarded WA Government grants

Caspin Resources Limited (ASX: $CPN) has been awarded two co-funding grants under the WA Government Exploration Incentive Scheme (EIS) totaling $255,000. The grants will be used for diamond drilling at the Brassica Prospect, Yarawindah Brook Project, and a ground gravity survey at the Mount Squires Project in Western Australia. The funding for both programs becomes available from 1 June 2024.

Caspin's Managing Director, Mr Greg Miles, on the grants

We are delighted to have won both a co-funded drilling and geophysics grant through the EIS. The tender process is highly competitive, so we see these grants as an endorsement of the Company's projects and geoscientific capabilities. We are excited by these new targets and look forward to commencing our programs in the second half of the year. I commend the WA Government for continuing the co-funded drilling program and now extending this for the first time to greenfield geophysical programs. The EIS is supporting exploration companies like ours to discover the next generation of mines, particularly during this time of challenging market conditions.

Caspin Resources (ASX: $CPN) outlook

Caspin Resources Limited has been awarded two co-funding grants under the WA Government Exploration Incentive Scheme (EIS) totaling $255,000. The grants will support diamond drilling at the Brassica Prospect, Yarawindah Brook Project, and a ground gravity survey at the Mount Squires Project in Western Australia. The Company's Managing Director, Mr Greg Miles, expressed delight at winning the grants and emphasized the competitive nature of the tender process, viewing the grants as an endorsement of the Company's projects and geoscientific capabilities. The funding for both programs becomes available from 1 June 2024, and the Company looks forward to commencing the exploration programs in the second half of the year. Caspin Resources continues to actively explore the Yarawindah Brook Project and the Mount Squires Project, aiming to make new discoveries and bring new targets to drill readiness by collecting geophysical and geochemical data across the projects. The Company's identification of significant mineralization at both projects underscores its commitment to exploration and development in Western Australia.