Cauldron Energy Limited (ASX: CXU) has announced it has been awarded two co-funded grants totalling up to $217,750 under the Western Australian Government’s Exploration Incentive Scheme (EIS). The grants are designated for uranium exploration activities at the company’s Yanrey Project this calendar year. Cauldron Energy Limited is an ASX-listed uranium-focussed company that wholly owns the Yanrey Uranium Project in Western Australia, covering approximately 1,270 square kilometres.
The grants comprise a co-funded geophysics grant of up to $78,500, which will support follow-up passive seismic surveying to further define the complex palaeochannel network hosting mineralisation at Yanrey. This program involves approximately 200 line kilometres of surveying across the broader region between the Bennet Well and Manyingee North deposits. Additionally, a co-funded drilling grant of up to $89,250 has been awarded for first-pass exploration drilling of specific targets in the Ashburton East region, within a palaeochannel previously defined by trial passive seismic surveying in 2025. An extra $50,000 allowance was included in the total due to higher international costs.
Jonathan Fisher, CEO of Cauldron Energy, expressed his delight at receiving the grants for upcoming drilling and geophysical exploration activities at the Yanrey Uranium Project. “This is the first time that Cauldron has been successful in being awarded an EIS co-funding grant and we understand the first time in several years that a company involved in uranium exploration has been successful,” Mr Fisher stated. He added that the dual grants for geophysics and drilling acknowledge the importance of their uranium exploration work and its potential to contribute meaningfully to the WA economy. The company looks forward to commencing this important exploration work.
