Applications For Round 13 Of Barnett Govt’s Co-funded Drilling Program Open

Applications For Round 13 Of Barnett Govt’s Co-funded Drilling Program Open

Western Australia Minister for Mines and Petroleum Bill Marmion

Millions On Offer To Support Resources Search

Victor P Taffa

  • Applications open for up to $5 Million in co-funding
  • $23 Million already refunded to explorers, miners and prospectors
  • Open day showcases latest research and high-tech data tools

Mines and Petroleum Minister Bill Marmion today opened applications for Round 13 of the Liberal National Government’s Co-funded Drilling Program, with up to $5 Million available to help drive discoveries and job creation across Western Australia.

Announcing the new funding round at the Geological Survey of Western Australia’s Open Day 2016, Mr. Marmion highlighted the many successes of the flagship drilling program, part of the $130 Million Exploration Incentive Scheme (EIS).

“There has never been a more important time to support exploration.” Mr. Marmion said.

“This innovative program favours under-explored and greenfields areas, helping more than 590 projects and 450,000 metres of drilling since it began in 2009.”

“The stand-out discovery associated with the scheme is the Nova nickel project, which is employing hundreds during construction and is expected to be an operating mine by the end of this year.”

“So far, more than $23 Million had been refunded to miners, explorers and prospectors, yielding dozens of discoveries, including significant recent gold finds.” Mr. Marmion said.

The schemes co-funding helped identify the potential of Gold Road Resources’ Gruyere project in the Eastern Goldfields and Alloy Resources’ Dusk til Dawn gold deposit north-east of Wiluna.

The 2016 open day includes the latest research on Western Australian rare earth deposits, the Eucla region and Yilgarn gold distribution, plus digital tools to help exploration, linked to the new State geological map.

“Through the GeoVIEW app, you can customise your own geological map online and incorporate particular datasets including mines and mineral deposits, petroleum wells and active leases.” the Minister said.

“What we have here today is a smorgasbord of science, aimed at finding new resources and extending existing reserves, to build and sustain our vital mining industry and the communities it supports.” Mr. Marmion said.

Fact File

  • The Co-funded Drilling Program refunds up to 50% of direct drilling costs, with caps of $150,000 for a multi-hole project, $200,000 for a single deep hole and $30,000 for a prospector’s project
  • Co-funding saw a new Australian record set last year for the deepest diamond drill hole, at 3,009 M, drilled by KCGM in Kalgoorlie-Boulder
  • An independently verified economic impact study revealed the EIS generated $10.3 Million in exploration activity and more than a dozen full-time jobs over three years, for every $1 Million invested