Victoria Looks To Find Next Gold Rush With Andrews Govt Grants

Victoria Looks To Find Next Gold Rush With Andrews Govt Grants

Victoria Minister for Resources Wade Noonan

New Grants Target A Gold Rush To Create Jobs

Victor P Taffa

Hunt for gold in northern central Victoria will accelerate minerals exploration and create jobs as companies take advantage of the Andrews Government’s TARGET grants program.

“We have a rich history of gold mining in Victoria, and these grants will help companies invest in the next big discovery.” Minister for Resources Wade Noonan said.

“These are exciting projects in an area considered highly prospective for gold.”

 

Second round of grants will see more than $1.2 Million awarded to Victorian companies for 5 new projects.

$15 Million TARGET program encourages explorers to invest in finding new deposits of gold and base metals, create jobs and get a broader scientific understanding of Victoria’s geology.

Second round of TARGET funding focuses on the northern part of the Bendigo geological province an area of 14,000 sq km stretching from Bendigo to Echuca and Swan Hill on the Victorian border.

This area is considered highly prospective for gold, with researchers predicting significant undiscovered gold deposits could be in the region.

Grant recipients under TARGET Round 2 are:

  • Fosterville Gold Mine to receive more than $139,000 for a project north of its existing mine
  • Kite Gold/Providence Gold and Minerals/Gold Exploration Victoria to receive more than $373,000 for a project north of Bendigo
  • Kite Operations/Navarre Minerals to receive more than $224,000 for a project north of Bendigo
  • Kite Operations to receive more than $312,000 for a project north of Bendigo
  • Providence Gold and Minerals to receive $227,000 for a project northwest of Bendigo

Grants cover up to half the cost of a broad range of eligible exploration activities including geophysical surveys, drilling and sampling analysis.

“We’re driving real investment in minerals exploration to grow local economies and create new jobs for regional communities.” Mr. Noonan said.

TARGET Round One saw $2 Million in grants for copper, other base metals and gold in the Stavely geological province in the state’s west.