- NickelX (NKL) has been awarded a drilling grant of up to $180,000 through the WA Government’s Exploration Incentive Scheme
- The company will use the funds for drilling at the Cosmos South nickel project in the Wiluna Greenstone Belt of WA
- The program will include four diamond holes to test recently identified conductive and magnetic anomalies at the project
- NKL shares have ended the day 10.3 per cent in the green at 16 cents
NickelX (NKL) has been awarded a drilling grant of up to $180,000 from the WA Government.
The grant falls under the state government’s Exploration Incentive Scheme which is an initiative aimed at encouraging exploration to support WA’s resources sector.
NickelX will apply the funds to a drilling program at the Cosmos South nickel project which is located in the Wiluna Greenstone Belt of Western Australia.
NickelX will initially drill four diamond holes to test the near-surface and down-dip extension of the conductive and magnetic anomalies which were recently identified through survey work.
Managing Director Matt Gauci said he was thankful for the support of the state’s exploration industry.
“As per our application to the EIS, the results have indicated prospective magnetic characteristics for ultramafic rocks and coincident with existing highly conductive MLEM and FLEM conductors within the project area,” Mr Gauci said.
“The team is very excited to be well funded and are now planning to execute drilling at Cosmos South with the planned program designed to test these new, exciting targets not previously subject to a systematic exploration program.”
The company is in the process of obtaining the necessary access agreements and permits and is looking to engage a drilling contractor.
NKL shares ended the day 10.3 per cent in the green and closed at 16 cents.