Grants bring drilling rigs to North West

FOUR exploration companies will be given Queensland Government grants to help shoulder the cost of bringing drilling rigs to mineral exploration sites in the north-west.

FOUR exploration companies will be given Queensland Government grants to help shoulder the cost of bringing drilling rigs to mineral exploration sites in the north-west.

Mines and Energy Minister Geoff Wilson said around $60,000 would be given to a cluster of companies to help them bring big drilling rigs into the region.

“This will help fast-track drilling in the Mount Isa, Cloncurry and Croydon areas where explorers are searching for copper, gold, lead, zinc and silver,” Wilson said.

Red Metal Limited and Teck Cominco Australia Pty Limited have been granted more than $40,000 to support their exploration work around Cloncurry.

“They plan to bring a drilling rig from South Australia, which will boost the drilling resources in Queensland,” Wilson said.

“The partners Xtreme Resources Limited and Superior Resources Limited will use their grant to drill for minerals around Mount Isa and Croydon,” he said.

The two grants awarded form part of the first round of funding from an $800,000 State Government initiative to encourage the better use of drilling and resources in Queensland.

“It’s open to two or more exploration companies that agree to share drilling and geophysical resources around the same area.

“Applications for the next round of grants will close in April next year and I encourage companies to take advantage of the initiative,” Wilson said.

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