LYN to drill in the West Arunta in early 2024

Our exploration Investment Lycaon Resources (ASX: LYN) is planning heritage surveys at its West Arunta rare earths/niobium project.

LYN has already secured land access agreements.

The final steps before the company can drill are heritage surveys and drill permitting.

LYN expects to be drilling in “early 2024”.

Context on the target LYN will be drilling:

LYN’s ground sits next to $492M WA1 Resources and $102M Encounter Resources.

We hope LYN can make a discovery similar to the one made by WA1 Resources in October 2022.

After its discovery, WA1 Resources share price went up by over 100x.

The pre-discovery share price of WA1 Resources was ~13.5c per share; at its peak, it hit ~$14.80 per share.

LYN’s drill targets in the region:

LYN now holds ~173km^2 of ground in the region and has ~six targets it could drill - the most advanced of which is the Stansmore prospect.

The most advanced target is the Stansmore prospect:

What’s next for LYN?

🔄 Permitting and approvals for rare earths/niobium project

Next LYN will be running heritage surveys which are a precursor for LYN to get on ground and drill.