LONDON - First Development Resources plc (AIM:FDR) announced today that its subsidiary URE Metals Pty Ltd has been awarded an AU$100,000 grant from the Northern Territory Government’s Geophysics and Drilling Collaborations Programme, according to a press release statement.
The grant will support the company’s Phase I Reverse Circulation drilling programme at the Lander West Gold Target, part of the Selta Project in the Northern Territory, Australia. The award was announced by the Northern Territory Minister for Mining and Energy Gerard Maley on Monday.
The funding is provided through the Northern Territory Government’s Resourcing the Territory initiative and administered by the Northern Territory Geological Survey. The programme supports mineral exploration across the Northern Territory.
The Phase I drilling programme is scheduled to commence in July 2026 and is expected to comprise approximately 2,000 meters of RC drilling, with potential expansion to 3,000 meters depending on results. The company stated that the programme is fully funded and all regulatory approvals have been secured.
First Development Resources stated that previous drilling in the target area focused on commodities other than gold and was generally shallow, with much of the geology remaining untested below 50 meters.
Chief Executive Officer Tristan Pottas said the grant "provides independent validation of the technical work completed to date and highlights the prospectivity of the Lander West Gold Target."
The company’s assets comprise eight granted tenements covering 2,314.4 square kilometers across Western Australia and the Northern Territory. First Development Resources is a UK-based mineral exploration company focused on Australian projects.
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