Funding boost for NSW geophysical surveys

ESG

A new series of New South Wales Government-funded geophysical surveys will take place in the state’s Central West, New England and Far West to gather detailed information that will help to uncover valuable critical minerals buried deep underground.

Deputy Premier and Minister responsible for Resources, Paul Toole, said four surveys will be carried out by air and land, using a mix of cutting-edge technologies to reveal significant clues about minerals buried up to several hundred metres beneath the surface.

He said the new surveys mean the NSW Government is investing in the biggest program of geophysical data acquisition in the state’s history.

“Working closely with Geoscience Australia, we will deliver airborne gravity surveys in the Cobar Basin and New England, an airborne electromagnetic survey in Forbes-Dubbo and a seismic survey between Cobar and Ivanhoe,” he said.

“We know that NSW is rich in critical minerals such as cobalt and zirconium and with the help of some of the world’s most advanced geophysical technology, it is possible to locate more of these highly sought after minerals.

“These new surveys will ultimately boost our knowledge of resource potential across a greater area of the state, and that means we can provide more quality data to industry to spur on new exploration and investment.”

Toole said recent surveys carried out in the Central West have delivered signs of potential deposits of minerals such as gold, copper and zinc as well as what may be untapped groundwater.

“We have received positive feedback from the mining industry about the quality of the survey data, with several companies using the information to carry out licensed exploration programs and even a new discovery of mineralisation,” he said.

“Exploration programs today may lead to a critical minerals project in five to ten years that employs locals and plays a vital role in the manufacturing supply chain for products such as batteries, electric vehicles, and renewables.

“It is an exciting time for mining in NSW.”

Detailed underground mapping through the new surveys form part of a $16 million commitment over 10 years to unlocking the potential of the state’s natural resources and attracting investment.

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