First Development Resources plc has received a AU$100,000 (£52,600) grant to support drilling the Lander West gold target on the Selta project in the Northern Territory, Australia.
PRIORITY
The company’s subsidiary URE Metals Pty Ltd received the grant under Round 19 of the Northern Territory Government’s geophysics and drilling collaborations (“GDC”) programme.
The fully funded, inaugural phase I reverse circulation drilling programme, scheduled to start in July 2026, will test the “broader gold system at depth”.
First Development will initially drill 2,000 metres and possibly up to 3,000m, subject to results.
The company said that “much of the prospective geology remaining effectively untested below 50m”.
Operations will evaluate “several high-priority gold targets” associated with the Stafford gold trend, which lies immediately south of the project area.
First Development added that the award represented both non-dilutive funding and independent recognition of the technical merit of First Development’s exploration strategy at Lander West.
“Over the past seven months, the company has adopted a systematic and methodical approach to advancing Lander West from an initial concept to a drill-ready opportunity,” said chief executive officer Tristan Pottas.
“This [drilling] programme will provide the first meaningful test of the Lander West gold target at depth and marks an important milestone in the development of what we believe could become a significant gold discovery for the company and its shareholders.”