AEON GETS GOVERNMENT BOOST

AEON GETS GOVERNMENT BOOST
LISTED minerals explorer Aeon Metals Ltd (ASX: AQR) has been given a helping hand by the government in its plan to unlock potential riches in far north-west Queensland.

The Bundall-based company has been awarded a grant totalling $107,250 which it will apply to test drilling at the company’s Walford Creek Project.

The grant has been made by the Queensland Department of Natural Resources and Mines under its Future Resources Program.

“We are very pleased to have the support of the department and grateful for the funding,” says Aeon’s managing director Hamish Collins.

“It is a testament to the exploration potential of the region and specifically the strike potential of the mineralised Fish River Fault structure.”

Aeon is targeting about 6000 metres of drilling through its current program which will finish in September.

It plans to drill a further 6000 metres in 2015 with a view to outlining the parameters of a pre-feasibility study for the resource by the end of next year.

It expects results of its early stages of drilling to be released this month.

Aeon last month said it was sufficiently funded to proceed with the drilling program to the end of 2015.

The company bolstered its position in the base-metals sector earlier this year after acquiring Aston Metals (Qld) Ltd from receivers.

Aeon heralded the acquisition as a “company-transforming, value accretive acquisition providing Aeon with significant scale, specifically with the large Walford Creek Project, which has the potential for a world scale base metals operation”.


Help us deliver quality journalism to you.
As a free and independent news site providing daily updates
during a period of unprecedented challenges for businesses everywhere
we call on your support

Advertisement

Related Stories

Ardent Leisure expects wild ride to continue all year

Ardent Leisure expects wild ride to continue all year

Dreamworld operator Ardent Leisure's (ASX: ALG) fortunes cont...

Queensland reopening to Melburnians from Saturday

Queensland reopening to Melburnians from Saturday

With Queensland's health officials to lift a hotspot declarat...

How to scale up and scale well: Transform your business with tailored solutions

How to scale up and scale well: Transform your business with tailored solutions

Software hairball syndrome is common for companies as they pivot ...

Brisbane officially in the box seat to host 2032 Olympic Games

Brisbane officially in the box seat to host 2032 Olympic Games

Six years of lobbying has paid off for Brisbane after the city wa...