Applications for Round 26 of Western Australia’s Exploration Incentive Scheme’s (EIS) co-funded drilling program and Series 4 of the Energy Analysis Program (EAP) have opened.
The co-funded drilling program encourages innovative exploration in greenfields and under-explored areas of WA, while the EAP promotes the re-analysis of existing data to better understand the state’s energy systems.
Recent successes include Strike Energy’s gas discovery at its South Erregulla 1 well in February 2022. The drilling program extended the known gas field in the North Perth basin.
Tempest Minerals targeted drill program intersected visible copper and semi-massive sulphides. The multiple mineralisation zones are directly comparable to the nearby Golden Grove mine – one of WA’s most successful high-grade copper, zinc and precious metals mining operations.
The State Government increased the capped values for EIS drilling refunds in February 2022. Explorers can now receive a refund of up to $180,000 for a multi-hole project, $220,000 for one or two deep holes, and $40,000 for prospectors.
The co-funded EAP offers refunds of up to $50,000 per application.
Mines and Petroleum minister Bill Johnston said mineral exploration was the core of WA’s resources sector, and the Government would continue to help companies mitigate the costs and risks associated with exploration drilling.
“Since 2017, we have provided nearly $80 million in funding for innovative programs and strategies designed to attract exploration investment,” he said.
“Mineral exploration expenditure in Western Australia reached a record $2.4 billion in 2021, an increase of 34 per cent on 2020.”
Applications for Round 26 and Series 4 close at 4pm on Friday, August 26, 2022.
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