Round 10 Co-funded Drilling

A new round of grants to boost Western Australia’s mining exploration investment has opened.  

A new round of grants to boost Western Australia’s mining exploration investment has opened.

Round 10 funding under the Exploration Incentive Scheme’s (EIS) Co-Funded Drilling Program, will be offered to exploration drilling projects to be undertaken in 2015.

The program encourages drilling programs in underexplored areas to ensure the continued economic prosperity of the State’s resources industry.

The latest round of Co-funded Drilling was opened yesterday by Mines and Petroleum Minister Bill Marmion

Since its inception in 2009, it has offered almost $50 million in grants to more than 460 exploration drilling projects.

The State Government’s commitment to explorers under the EIS is expected to reach approximately $130 million by 2016-17.

Co-funding in all categories of applications will remain at up to 50 per cent of direct drilling costs and will be capped at:

• $150,000 for general multi-hole applications,
• $200,000 for a single deep hole application
• $30,000 for a Prospector application.

Co-funding will be available for exploration drilling only. Resource definition drilling and appraisal, stimulation or development drilling will not be eligible for co-funding.

Applications can only be made using the online system at www.dmp.wa.gov.au/eisdrilling.

The application period closes at 5pm WST October 3, 2014.

Media contact DMP: Ph 9222 6102