GEO Exploration Limited (AIM: GEO) has secured A$280,000 in government drilling grants to advance exploration at its Gorge and Juno gold projects in Western Australia, with drilling programmes planned for the first half of 2027.
The funding has been awarded through Round 34 of the Western Australian Government’s Co-Funded Exploration Drilling Programme, part of the Exploration Incentive Scheme designed to encourage mineral exploration by sharing drilling costs in underexplored regions.
The Gorge Gold Project has been awarded A$180,000 to support a diamond drilling programme targeting the high-priority Gorge Mine and MAG001 prospects.
The proposed programme comprises seven drill holes totalling approximately 1,200 metres, aimed at testing geological targets identified through the company’s exploration activities.
At the Juno Gold Project, GEO has secured a further A$100,000 to fund drilling at the JUD003 target, where a single diamond drill hole is planned to reach a depth of approximately 650 metres.
Combined, the programmes represent eight drill holes totalling 1,850 metres, providing an opportunity to assess priority exploration targets across both projects.
The grants must be utilised by October 2027, although GEO intends to complete the drilling programmes during the first half of next year, subject to operational arrangements and regulatory approvals.
The funding will help offset direct drilling expenditure, allowing the company to direct more of its available capital towards advancing its exploration portfolio.
Exploration Manager Tom Harris welcomed the awards, highlighting the opportunity to test high-priority targets and acknowledging the support of the Western Australian Government and Geological Survey of Western Australia.
Chief Financial Officer Hamza Choudhry said the grants supported GEO’s disciplined approach to capital allocation and its strategy of prioritising investment in projects with exploration potential.
The company will provide further updates as preparations progress and drilling schedules are finalised.
For investors, the A$280,000 funding package reduces the company’s direct exploration cost exposure, while supporting planned drilling at two of its Western Australian gold projects.
Attention will now turn to securing the necessary approvals, confirming drilling arrangements and ultimately assessing the geological results from Gorge and Juno during 2027.
