Great Western Exploration (ASX:GTE) has cleared the path for an aggressive exploration blitz across its Yerrida North Copper-Gold Project in Western Australia.
The company announced it has received binding commitments to raise approximately $3.8 million through a strategic two-tranche share placement.
By issuing roughly 208 million new ordinary shares at $0.018 per share, Great Western is now fully funded to test several high-priority targets located in the shadow of the world-class DeGrussa VHMS deposit.
The primary focus of this capital injection is a series of "DeGrussa-style" drill programs.
Activities are slated to begin imminently at the Oval VHMS Copper-Gold target, with the company confirming that drilling is expected to be underway within the coming weeks.
Once the rigs finish at Oval, the exploration campaign will systematically progress to the Diorama prospect, followed by the six Juggernaut targets and the Baroo target area.
Managing Director Shane Pike described the funding as a pivotal milestone, noting that the placement ensures the company can aggressively pursue a "significant discovery" within its 100% owned tenure.
At the time of reporting, Great Western Exploration's share price was $0.022.