Great Western Exploration updates market on June qtr activities
Great Western Exploration (ASX: GTE) has provided its June 2019 quarter activities report to the market.
Yandal West Gold Project
· 9 RC drill holes for 1,354m at the Ives Find prospect were completed
· Results from the Duck lode indicate that gold mineralisation continues along strike to the east and remains open in all directions
· The drill hole designed to test the Bell Miner high grade lode deviated significantly and failed to intersect the lode at depth
· Field work continued during the quarter with soil sampling and reconnaissance mapping of a potential copper target commencing.
· Assessment of widespread vanadium mineralisation associated with gossan outcrops that includes high grade Vanadium up to 1.6% V2O5 continued during the quarter
Yerrida North JV
· Sandfire Resources NL commenced detailed geological mapping.
· Non-renounceable Entitlement Issue and subsequent additional placement successfully completed, raising $1.15 million
· Capital raising heavily oversubscribed with strong support from existing shareholders and significant demand from new investors
Net proceeds will be used to continue drilling at the Yandal West Gold Project, the assessment of high-grade vanadium gossans at the Yerrida Project and working capital