Regener8 Resources (ASX:R8R) will further drill its Hatlifter prospect for nickel-copper thanks to a Western Australian government EIS grant.
The EIS grants – Exploration Incentive Scheme – are “merit-based” pockets of funding handed out by the WA Government in a bid to juice up juniors enough to go find new deposits.
Critical metals or metals of otherwise strategic interest are often of interest and in this instance Regener8 is on the hunt for nickel and more importantly copper in the state’s south-south-east.
While the Hatifter prospect is part of the larger project named East Ponton, it’s of most interest to geotechs and the company at large. A $180,000 payment useable from December will go towards 2025 exploration activities on-site.
In the background, maiden drilling is already underway on-site; it kicked off about a week ago. Results are pending, but the handing over of EIS money from government geos does suggest there’s enough going on geologically to make the CapEx worthwhile.
““The EIS grant enables Regener8 to amplify exploration at the Hatlifter prospect over the next 12 months,” company chief Stephen Foley said.
“We’re continuing to be encouraged through the technical merit of the opportunity and thank the WA Gov EIS in providing support to this exciting project.”
R8R last traded at 15cps.
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