- $6million awarded to 52 projects
- Three prospectors share $63,000
- Gold shines with 27 projects funded
The security of Western Australia’s mining future received a boost today with $6million awarded under the State Government’s Co-funded Exploration Drilling Program.
Mines and Petroleum Minister Norman Moore said the final round of 2011 funding was awarded to 52 applicants, including three prospectors who received $63,000.
“It is pleasing to see oil and gas projects among the successful applications, with five petroleum projects receiving funding,” Mr Moore said.
“Gold was the most predominant resource featured, with 27 projects listing it as the main target or as one of other commodities sought.
“Gold was followed by copper in 11 projects, nickel in six and uranium in five. Other commodities being explored include platinum group elements, zinc, lead, diamonds and manganese.”
The program is the flagship of the State Government’s $80million Exploration Incentive Scheme, funded by Royalties for Regions, to promote exploration in greenfields and under-explored areas of WA.
The Minister said programs supporting exploration by providing incentives to drill in underexplored areas were the key to the continued economic prosperity for the State’s resources industry by helping find the mines of tomorrow, today.
“Round 4 is the first time a grant has been offered for drilling to be undertaken over a calendar year (January-December 2012), and was in response to industry requests to provide better options to accommodate their exploration cycle,” Mr Moore said.
Round 5 applications will open in February-March 2012 for drilling projects to be undertaken between July 2012 and June 2013.
Recent success at Toro’s Theseus Uranium Prospect was a result of early drilling co-funded in Round 1 of the program, while some drilling from Round 2 identified mineralisation at depth which supported the re-opening of the Mount Magnet Mine. Co-funding of the Encounter Resources drilling in Round 3 intersected extensive zinc mineralisation in the Yeneena project.
Information acquired by the companies is publically released on the Department of Mines and Petroleum website after a short confidentiality period, adding to the geological knowledge of the State and reduces the risk for subsequent explorers.
Information on Co-funded Drilling Program is available at http://www.dmp.wa.gov.au/eisdrilling
- List of successful applicants and a map of project locations is available at
Minister's office - 9422 3000