Exterra Resources Ltd (ASX:EXC) has now been granted prospecting licences over the high-grade Grass Flat Gold Project in Western Australia.
Exterra has commenced a review of the project which confirmed the presence of a large number of potentially economic grade gold intercepts.
Highlights from reverse circulation drilling include: 4 metres at 9.56g/t gold, including 1 metre at 33.47g/t gold; and 7 metres at 9.20g/t gold, including 3 metres at 18.90g/t gold.
The project was identified through a review of historical exploration by previous holders.
Analysis
Exterra's strategy has a focus on high-grade, high-margin gold projects with near term production potential.
The potential has already been identified at Grass Flat.
The next steps will be highly anticipated.
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