Field work at the Mt Peake lithium project. Source: Australasian Metals
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  • Australasian Metals (A8G) receives a $160,000 exploration grant from the Northern Territory Government
  • The funds will be directed towards the company’s diamond drilling program at its Mt Peake lithium project in the Northern Arunta province
  • The extra money will assist A8G in conducting a more extensive drill program, which is due to start in the third quarter of this year
  • Shares were trading flat today at 39 cents at 11:16 am AEST.

Australasian Metals (A8G) has been awarded a $160,000 exploration grant from the Northern Territory Government.

The funds will be directed towards the company’s diamond drilling program at its Mt Peake lithium project in the territory’s Northern Arunta province.

The company applied for the grant under Round 15 of the state’s Geophysics and Drilling Collaborations Program.

The extra funds will assist A8G in conducting a more extensive drill program, which is due to start in the third quarter of this year.

Managing Director Dr Qingtao Zeng said the grant is a testament to the project’s potential for success.

“These exploration funding initiatives are highly competitive and the fact that Australasian’s application was successful is a fantastic endorsement of our work program and the geological potential of the Mt Peake project,” he said.

Shares were trading flat today at 39 cents at 11:16 am AEST.

A8G by the numbers
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