WA Govt backs Dynamic for Goldfields drill campaign with $175k grant

Dynamic Metals has won a $175,000 co-funding grant under Round 32 of the West Australian Government’s Exploration Incentive Scheme (EIS) to support a four-hole diamond drilling program at its Cognac West copper gold prospect which is part of the company’s Widgiemooltha Project in WA’s Goldfields, about 212 kilometres south of Kalgoorlie.

The grant, administered by the Department of Energy, Mines, Industry Regulation and Safety (DEMIRS), covers up to 50% of direct drilling costs and $5000 for mobilization, bolstering Dynamic’s push to unlock the gold and copper potential in a region famed for its multi-million-ounce deposits.

Cognac West, located 500m east of the Republican Thrust fault structure and near a felsic intrusion, has shown promise through historic exploration and Dynamic’s 2024 campaigns.

Past drilling from the 1990s hit a standout 1m at almost 3 ounces to the tonne gold, while recent soil sampling refined gold anomalous zones above 0.1g/t gold – or 100 parts per billion - which, while not an economic level of mineralisation, can be geochemically significant as a gold marker in many areas of exploration.

Rock chip gold assays peaked at a whopping 2040g/t, accompanied by other hits of 53.1g/t and 8.95g/t gold, while geological mapping in 2024 shaped-out cohesive high-priority targets across two anomalies, dubbed anomalies ‘A’ and ‘B’.

We are delighted to receive this highly competitive co-funding grant from the Western Australian Government. The award highlights the strong prospectivity of Cognac West and provides important support as we assess opportunities to further advance exploration at the project.

Phase 1 reverse circulation (RC) drilling at Cognac West, comprising 32 holes for 4800m in March and Phase 2 drilling of 19 follow-up holes delivered compelling results, including 8m assaying 2.78g/t gold and 4m going 5.04g/t gold from quartz veins at Anomaly A, along with 24m running 0.29g/t gold in volcaniclastic rocks at Anomaly B.

The results have been integrated into an updated geological model, setting the stage for the upcoming diamond drilling to definitively test depth and continuity at the prospect.

Dynamic’s Widgiemooltha Project, 212 kilometres south of Kalgoorlie, neighbours Westgold’s Chalice mine (517,000oz produced) and leverages existing roads, rail, and power.

Dynamic has a year from December to drill Cognac West with the goal of refining the resource potential of this structurally complex, gold-rich terrain, with its local geological complemented by the company’s nearby Chalice South drilling campaign, for which results are awaited.

The 12-month timeframe – in this case from December 1, 2025, to November 30, 2026 - is a standard condition of WA’s Exploration Incentive Scheme (EIS) Co-funded Drilling Program where successful applicants must complete all funded drilling activities within this one-year window to qualify for the grant reimbursement, ensuring timely execution and efficient use of public funds.

With WA Government’s $175k in the tin and an incandescent gold market at play, Dynamic Metals is primed to put the rotary truth diviner to work now at Cognac West. Watch this space.

Is your ASX-listed company doing something interesting? Contact: matt.birney@wanews.com.au