re: Ann: Octagonal Acquires 100% of Hogan'...
Octagonal Awarded West Australian Government Co-Funded Drilling Grant for Diamond Drilling at the Burns Prospect, Hogan's Project, in Western Australia The Directors of Octagonal Resources Limited (ASX: ORS) (“Octagonal” or “Company”) are pleased to announce that the Company has received a Western Australian Government co-funded drilling grant in Round 6 of the Exploration Incentive Scheme Co-funded Drilling Program to help fund the first phase of diamond drilling at the Burns gold-copper-silver Prospect at the Hogan’s Project in Western Australia. The Company has been offered the maximum government assisted funding available of $150,000 to pay for up to 50 per cent of direct drilling costs for a multi-hole project. Octagonal’s Managing Director, Anthony Gray, commented that “this is a fantastic outcome for the Company, with the West Australian Government to assist with funding our first diamond drilling program at the Burns Prospect.”“The submission process to obtain these drilling grants requires the applicant to provide high quality, technically and economically sound proposals that promote new exploration concepts and new exploration technologies, with the proposals assessed by an expert panel of officers in the Department of Mines and Petroleum and moderated by independent industry representatives nominated by the Director General, Department of Mines and Petroleum.” “Octagonal will use this grant to help fund the drilling of four diamond holes, for 2,000 metres, at the Burns Prospect next year to provide lithological, structural, geophysical, and mineralogical data to help us understand and better explore this unique style of deposit.” Additional information relating to Octagonal and its various mining and exploration projects can be found on the Company’s website: www.octagonalresources.com.au For further enquiries, please contact: Anthony Gray (Managing Director) +61 3 9697 9088
ORS Price at posting:
12.1¢ Sentiment: None Disclosure: Held
