Greatland Gold PLC (AIM:GGP, OTC:GRLGF) is to receive a grant of up to A$200,000 (£113,000) under the Western Australian government's Exploration Incentive Scheme (EIS).
The grant will be used to co-fund exploration at Greatland's 100%-owned Rudall licence, which is located 20km southeast of Greatland's Havieron gold-copper resource in Western Australia.
"The drilling grant for the Rudall licence will accelerate our programme to test targets in this area of the Paterson,” said Shaun Day, managing director of Greatland.
“Testing of priority targets delivers the opportunity to unlock the exploration option value of the portfolio."
The Rudall licence covers an area of approximately 65 square kilometres. Rudall is considered to be prospective for Havieron and Telfer style gold-copper occurrences.
Greatland has already completed geophysical modelling to enhance preliminary targets identified at the Rudall licence, including on the Ramses magnetic anomaly.
The modelling suggests the depth to top of the magnetic anomaly is approximately 700 metres.
Further geophysical survey work is being planned this year to refine the Ramses anomaly before an exploration drill program is undertaken, utilising the EIS grant to co-fund the drilling component of the 2022 exploration work programme.