Grants for exploration drilling will be undertaken in 2020.
|Date:||Friday, 23 August 2019|
Applications for Round 20 of the Department of Mines, Industry Regulation and Safety’s Exploration Incentive Scheme's (EIS) Co-funded Exploration Drilling Program opens today.
The highly popular program provides $5 million a year to encourage innovative drilling in greenfields and under-explored areas of the State.
Explorers can receive a refund of up to 50 per cent for innovative drilling projects, with caps of $150,000 (multi-hole project), $200,000 (single deep hole), and $30,000 for prospectors.
At the completion of Round 17 drilling in June this year, 71 per cent of projects offered a grant completed drilling, far exceeding the historical completion rate of 59 per cent.
Applications for Round 20 close at 5pm on October 4, 2019.
For more information, visit http://www.dmirs.wa.gov.au
Comments attributed to Mines and Petroleum Minister Bill Johnston:
“It was pleasing to see the confidence and optimism displayed by the State’s mining industry at the recent Diggers and Dealers Mining Forum in Kalgoorlie.
“Western Australia’s resources industry is keen to explore, and the State Government’s EIS Co-funded Exploration Drilling Program can help them find the next big project.
“The scheme’s success is reflected by the high completion rate of co-funded drilling projects, and in the varied mix of new-energy and traditional exploration projects that were successful in Round 19 earlier this year.
“The EIS program continues to produce major discoveries, which can lead to new mines being developed and more jobs for Western Australians.”