Australia-based Enterprise Uranium has secured co-funding from WA Department of Mines and Resources for drilling at the company’s Byro and Ponton projects.
The company aims to commence reverse circulation (RC) drill testing of the palaoechannel uranium targets in the Byro project area within the Valley of the Murchison River near Wooleen Station in July.
In addition to a grant of up to $75,000 for RC drill testing at Byro, the co-funding commitment, which was received as part the state government’s exploration incentive scheme, includes up to $90,000 for RC drill testing of the palaoechannel hosted uranium targets at the Ponton project in the Yilgarn Craton.
As per the terms of the agreement, half of the company’s funds spent on the approved drilling schemes at both projects will be refunded, up to the value of each grant.
Enterprise aims to being drilling program at Byro in early July 2013.