The grant was offered following a competitive application process under Round 26 of the WA government's co-funded Exploration Incentive Scheme (EIS grant). EIS grant applications were assessed by an expert panel of officers moderated by independent industry representatives nominated by the director general, WA Department of Mines, Industry Regulation and Safety.

The scheme preferentially funds applications of high-quality, technically and economically sound proposals that promote new exploration concepts and new exploration technologies. Only 38 EIS Round 25 co-funding grants were offered.

The EIS grant will reimburse Dundas Minerals up to 50% of direct diamond drilling costs and 50% of driller mobilisation costs (to a cap of A$15,000), to a combined maximum amount of $220,000. The EIS grant is specific to the company's Central exploration target, which is currently being drilled.

In accepting the offer of grant funding, Dundas Minerals acknowledges the Western Australian government and specifically the Department of Mines, Industry Regulation and Safety, for its continued investment and support of mineral exploration throughout the State; and especially its support of junior exploration companies.

Diamond drilling commenced at Central in late September 2022. Visual results from the first drill hole (22CEDD001), drilled to 423m which tested the top of AMT anomaly 11000 were announced on 11 October 2022. Results from the hole were extremely promising with an initial intersection of 358m of massive, semi-massive and disseminated sulphides. At Central, five drill holes for a total drilling programme of approximately 2000m is planned. Diamond drill hole two commenced on 8 October 2022, the hole will test AMT anomaly 12250, located to the northeast of hole 11000. The hole is planned to be drilled to beyond 450m and at ~85 degrees, close to vertical.

The Central exploration target is located within the company's northeast prospect area and was initially identified as prospective for mafic-ultramafic associated Ni-Co-Cu mineralisation from a project-wide gravity survey completed by Dundas Minerals in October 2021. Results from the survey were announced on 8 December 2021. A detailed gravity survey (250m spaced lines, 100m spaced reading stations) was conducted across the northeast prospect area in late January/early February 2022. This survey identified the Central target as having correlated gravity, magnetic and SkyTEM (electro-magnetic) geophysical anomalies, and worthy of more detailed exploration.

In March 2022, an audio magnetotellurics (AMT) survey was completed at the Central target. The survey results were announced on 16 March 2022 and were extremely encouraging. Two survey lines were completed, and both lines returned areas of extremely low resistivity (equivalent to high conductivity), where values were less than one ohm-metre (Ω.m).

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