Enterprise Uranium granted drilling co-funding

THE DRILL SERGEANT: Enterprise Uranium (ASX: ENU) has been granted two applications for co-funded drilling by the Western Australia Department of Mines and Resources under Round 7 of the co-funded Government Exploration Incentive Scheme (EIS).

Enterprise is to receive a WA Government co-funded drilling grant of up to $75,000 for RC drill testing of palaoechannel uranium targets in the Byro project area, located within the valley of the Murchison River near Wooleen Station.

The company was also granted WA Government co-funding of up to $90,000 for RC drill testing of palaeochannel hosted uranium targets in the vicinity of Lake Yindana at the Ponton project in the Yilgarn Craton.

 

Project location plan. Source: Company announcement

 

“These awards, under independent peer reviewed competitive conditions, are a strong endorsement of the quality of the company’s targets and Enterprise’s technical capability,” Enterprise Uranium said in the company’s ASX announcement.

“The company expects to begin its drilling program at Byro in early July 2013.

“Enterprise also wishes to thank the WA State Government for its strong support of the mineral exploration industry through the Exploration Incentive Scheme.”
Under the terms of the Agreement with the Government, 50 per cent of company funds spent on the approved drilling programs at the Byro and Ponton projects will be refunded, up to the value of each grant.

The Round 7 funds are available for drilling up until 30 June 2014.