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Great Western Exploration Limited (ASX:GTE)

ALERT: Price-sensitive ASX Announcement for GTE
Current share price for GTE : $0.010 0.001 (11.11%)+
Announcement
Release
18 Aug 2026 8:05AM
Price at Release
$0.009
Full Release
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Summary
Great Western Exploration Limited has entered into an agreement to earn into the highly prospective McKinlay Copper-Gold and Silver Project, located in the Cloncurry region of north Queensland. The project is situated within the Mt Isa Eastern Succession, near significant deposits like Ernest Henry and Cannington. Great Western can earn a 51% interest in the project by spending $500,000 on exploration, followed by an additional 29% interest upon further $2 million expenditure, and ultimately achieving full ownership with a payment up to $2 million. The agreement, subject to shareholder approval, includes an aggressive exploration campaign with air core and RC drilling planned across the tenements EPM27957 and EPM27958, where previous exploration identified Ernest Henry-style copper-gold targets. This project enhances Great Western's existing portfolio, including the Yerrida North Project, presenting significant discovery potential using modern exploration techniques.
Key Points
  • GTE to earn into McKinlay Copper-Gold and Silver Project in Cloncurry, Queensland.
  • Project located near major deposits like Ernest Henry and Cannington.
  • Great Western can earn 51% interest by spending $500,000 on exploration.
  • Additional 29% interest with further $2M expenditure, and 100% with up to $2M payment.
  • Aggressive exploration program planned including air core and RC drilling.
  • Project spans tenements EPM27957 and EPM27958.
  • Previous exploration identified Ernest Henry-style targets.
  • Project enhances GTE's portfolio alongside Yerrida North Project.
  • Shareholder approval required for acquisition.
  • Potential for significant discoveries using modern techniques.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.