Seven mining companies in Queensland have received funding from the state government to support their exploration activities in the North West.
The companies include Teck Australia, Ripple Resources, Yappar Resources, Footprint Resources, Sector Projects, Red Metal and Mt Dockerell, which received more than $600,000 to support drilling projects for zinc, copper, silver, lead and gold.
Natural resources and mines minister Anthony Lynham said the companies will begin work this month, which will benefit local communities and businesses.
“Boosting investment in exploration is a way of maintaining the pipeline of metals production from the North West mineral province to eventually replace older mines,” Lynham said.
The funds come from the state’s collaborative drilling initiative which has supported nearly $27 million worth of exploration in remote areas in the sate.
“Funding through the Collaborative Drilling Initiative enables companies to undertake projects in frontier areas, projects that may have never seen the light of day due to the costs and risks involved in exploring in remote areas,” Lynham said.
“These explorers are seeking new discoveries in areas that are deeper and more difficult to explore than in the past, using the best science available.”
Around 40 major mineral deposits have been discovered in the state’s remote areas in previous exploration projects.