Rainy weather dampens Great Western’s gold drilling efforts; shares dip
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Great Western Exploration has been unable to restart phase two drilling at its Yandal West gold project due to prolonged wet weather in Western Australia’s mid-west.
The company (ASX:GTE) is aiming to drill 3000m in the current program but has so far only completed 1852m, which was done prior to the Christmas break.
Shares dipped 6.3 per cent to 1.5c on the back of the news.
“Unfortunately, the wet weather conditions are continuing with heavy rain over the weekend and more forecast for later this week,” Great Western told investors.
“The company is monitoring the situation with the intention to resume drilling as soon as conditions allow.”
Despite delays in the resumption of phase-two drilling, Great Western does not expect it to “greatly affect” the phase three drilling timetable for Yandal West or planned drilling at the Chisel prospect in the Yerrida Basin.