LYN set to begin drilling soon
Our microcap exploration Investment, Lycaon Resources (ASX: LYN) has received all the necessary approvals to commence its maiden drilling program at the high-priority Stansmore prospect within its West Arunta project in Western Australia.
Drilling is planned to start in early November and take 2-3 weeks to complete.
Adding to the kitty for this drill program is an EIS exploration incentive which will see the WA government provide up to $180,000 in non-dilutive funding towards drilling costs.
Recent geophysical modelling by expert consultant Terry Hoschke has refined the drill targeting at Stansmore:
(Source)
And a larger 3km wide anomaly called Volt/Ions:
(Source)
WA1 Resources made a giant niobium/rare earths discovery in the West Arunta and went from a share price of ~13c to $23.20 in less than two years, a ~17,700% gain.
At its peak WA1 Resources market cap was over $1BN.
The past performance is not and should not be taken as an indication of future performance. Caution should be exercised in assessing past performance. This product, like all other financial products, is subject to market forces and unpredictable events that may adversely affect future performance.
What’s next for LYN?
We now look ahead to LYN completing our Objective #2 from our LYN Investment Memo:
Objective #2: Drilling at its niobium & rare earths project in WA.
We want to see LYN get on the ground and drill its project in the West Arunta region.
Milestones
🔲 Commence drilling
🔲 Assay results
Source: “What do we expect LYN to deliver” Section - LYN Investment Memo 30 Nov 2022.
Read our latest note on LYN below:
