Strong interest anticipated for next round of EIS funding
| Date: | Monday, 07 February 2022 |
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- Strong interest anticipated for next round of EIS funding
- Previous round dominated by the search for battery minerals, including nickel
- Capped values for drilling refunds have increased
Applications for Round 25 of the Exploration Incentive Scheme’s (EIS) highly popular cofunded drilling program and Series 3 of the Energy Analysis Program (EAP) open today.
Explorers can receive a refund of up to 50 per cent for innovative drilling projects, with new capped values of $180,000 for a multi-hole project (previously $150,000), $220,000 for one or two deep hole(s) (previously $200,000) and $40,000 for prospectors (previously $30,000).
The co-funded EAP offers an up to 50 per cent refund for up to $50,000 per application.
The co-funded drilling program encourages innovative exploration in greenfields and underexplored areas of Western Australia, while the EAP promotes the re-analysis of existing data to better understand the State’s petroleum and geothermal systems.
Round 25 and Series 3 close at 4pm on Friday March 4, 2022. For more information, visit https://dmp.wa.gov.au/Geological-Survey/Exploration-Incentive-Scheme-1428.aspx
Comments attributed to Mines and Petroleum Minister Bill Johnston:
“The McGowan Government recognises that ongoing exploration success is essential for the sustainability of Western Australia’s resources sector.
“The increased funding caps will help resources companies further mitigate the costs and risks associated with exploration drilling.
“WA competes with several other jurisdictions to attract exploration investment so we will continue to support programs that provide the State with competitive advantages in this area.
"Most recently, Maximus Resources successfully completed drill holes demonstrating a strong potential for high-grade gold mineralisation and Karora Resources encountered significant nickel intersections - thanks to the EIS."
