Great Western Exploration secures funding for diamond drilling program in WA

Great Western Exploration Limited (ASX: $GTE) has secured funding from the WA Government for the upcoming diamond drilling program at its giant Oval and Oval South Copper-Gold targets in WA. The funding, provided under the Government's Exploration Incentive Scheme (EIS), will cover up to 50% of the drilling costs and up to $5,000 towards drill rig mobilisation costs.

Executive Commentary on the Funding and Exploration Programme

The EIS approval is a significant endorsement of the prospectivity of Oval and Oval South, and Great Western appreciates the support of the Western Australian Government for the Company's Exploration programme to test these two targets. These compelling targets are supported by two separate geophysical surveys, are located on a major crustal scale mantle tapping fault and within favourable stratigraphy; This evidence suggests there is potential for an extremely large discovery.

Summary of Great Western's Exploration and Funding

Great Western Exploration has successfully secured co-funding for diamond drilling under the WA Government's Exploration Incentive Scheme to test the giant Oval and Oval South Copper-Gold targets. The company believes that the EIS co-funding is a strong endorsement of the prospectivity of the targets and appreciates the support from the Western Australian Government for the exploration programme. The targets have been extensively supported by geophysical surveys and are located on a major crustal scale mantle tapping fault, indicating the potential for a significant discovery. The identification of the Yerrida Basin growth fault significantly increases the potential for a giant Winu- Haverion style intrusive related copper-gold discovery to be made. Great Western's exploration ambitions and goals are focused on leveraging the funding to further explore and test the potential of these targets, with the aim of making a significant discovery in the region.