Lycaon Resources completes heritage clearance survey at Stansmore project

Lycaon Resources Ltd (ASX: $LYN) has successfully completed a heritage clearance survey over its high priority Stansmore Project in the West Arunta region of Western Australia. The survey, which encompassed three high priority drill targets of Stansmore, Volt, and Ions, follows the Company's success under Round 29 of the Western Australian Exploration Incentive Scheme (EIS) to receive a co-funding grant of up to a maximum of $180,000 for drilling at Stansmore.

Executive Commentary

Mr Thomas Langley, Technical Director, expressed gratitude to the Central Desert Native Title Services and Parna Ngururrpa traditional owners for their efforts and cooperation in completing the survey. He stated, 'Subject to the outcome of the final survey report, this survey could allow the Company to start drilling at our high priority Stansmore, Volt, and Ions targets, which is a great achievement within 12 months of signing the land access agreement.'

Summary

Lycaon Resources Ltd (ASX: $LYN) has completed a heritage clearance survey over its high priority Stansmore Project, paving the way for potential drilling at the Stansmore, Volt, and Ions targets. The Company aims to commence drilling as soon as practicable, pending the final survey report and program of works approval. The Stansmore Project, located in the West Arunta region of Western Australia, has shown promising magnetic anomalies, indicating the potential for Niobium-REE Carbonatite or Iron-Oxide Copper Gold (IOCG) mineral targets. The Company's success in securing a co-funding grant for drilling at Stansmore underlines its commitment to advancing exploration activities. With detailed planning for an initial phase of drilling programs underway, Lycaon Resources is poised to capitalize on the survey's completion and move towards its drilling objectives.