King Island Scheelite Limited (ASX: KIS) (“KIS” or “the Company”) is pleased to announce that it has secured an exploration grant amounting to AU$70,000, to assist in undertaking “greenfields” exploration on the Company’s exploration licenses surrounding the Dolphin Mine Lease on King Island, Tasmania (Figure 1).

The Tasmanian Government has introduced an Exploration Drilling Grant Incentive (“EDGI”), designed to stimulate exploration drilling across Exploration Licenses located in Tasmania. EDGI grants provide funding for 50% of direct drilling costs for greenfields drilling projects, demonstrating the Tasmanian Government’s ongoing support for the Tasmanian Mining Industry.

Proposed programs are assessed by Government employed geologists for eligibility, including but not limited to, technical and economic merit, testing knowledge gaps and stimulating new mineral discoveries. The grant is available until April 2022, requiring drilling to be completed in the Summer of 2021-22.

KIS is pleased to report that it was successful in having two grants approved under the EDGI for exploration drilling on the Company’s Exploration License EL19/2001. The EDGI grants awarded will co-fund direct drilling costs associated with the exploration program, testing new conceptual extensions of the known tungsten mineralisation identified in previous drilling Programs (KIS:ASX 23 April 2019).

Under the timing requirements of the grants, KIS plans to mobilise a drill rig to King Island in December 2021 to complete the proposed program.