LYN gets new approval for drilling at WA1 look-alike target
In our latest note on our microcap exploration Investment, Lycaon Resources (ASX: LYN) we detailed the potential geophysical and geological similarities between LYN’s targets in the West Arunta and ASX exploration star WA1 Resources.
WA1 Resources is currently capped at circa $1BN after a large niobium discovery.
Niobium is an emerging high tech resource, with few mines existing in the world and new applications for its use growing in number in the decarbonisation and electrification macro thematics.
Interest in West Arunta exploration is ramping up with a number of LYN’s peers in what could be the “last frontier” for major new discoveries in Australia.
Share prices of West Arunta explorers have been moving over the last few weeks.
Today, LYN announced that it had received an additional permitting approval for its first drilling campaign in West Arunta from the Minister of Mines.
That means that all that’s left to tick off before drilling can commence is heritage surveys and then drilling.
LYN’s drilling will take place just 90 kms away to the north of WA1’s project:
Click here to read are most recent LYN note on West Arunta drilling
What’s next for LYN?
🔄Heritage Surveys (mid-year) - precursor to final permits.
🔄Gravity surveys (next few months) - to refine targets.
🔄Drilling (next few months) - pending heritage surveys.
