No limits for Exploration Incentive Scheme success

Applications for Round 29 of the Exploration Incentive Scheme's (EIS) co-funded drilling program and Series 7 of the Energy Analysis Program (EAP) open today alongside two new geophysics initiatives.

The inaugural Co-funded Geophysics Program (CGP) provides $2 million to generate new geophysical information to support greenfields exploration with a focus on critical minerals.

A further initiative involves the EAP providing an additional $500,000 for a new geophysics acquisition category to seek a better understanding of energy and geothermal systems.

The two new geophysics initiatives follow a State Budget funding increase for 2023–24.

Recent EIS success stories include Gateway Mining intersecting a significant new zone of gold mineralisation at the company’s Montague project in the Murchison.

Kalgoorlie Nickel also reported success at its Highway deposit with the company confirming nickel sulphide prospectivity and lithium-caesium-rubidium bearing intrusives.

Round 29 of the co-funded drilling program will likely see ongoing interest in the search for critical minerals with 58 per cent of the projects awarded in Round 28 hunting for these important minerals.

Applications for Round 29, Series 7 and Venture 1 (geophysics) close at 4 pm on Friday, 1 March 2024. For more information visit: Exploration Incentive Scheme (EIS).

Comments attributed to Mines and Petroleum Minister David Michael:

“The Cook Government’s ongoing support of mineral exploration underpins our efforts to position WA as a global supplier of future battery minerals and materials.

“Resources exploration remains a leading driver of WA’s economic success, so it is pleasing to see the Exploration Incentive Scheme deliver so many outstanding results.

“I look forward to learning more about the research and technology behind the new geophysics programs and how these tools will help uncover the next big mineral discovery.”

Media contact: Stuart McKinnon 0498 371 597 or 6552 8974