Queensland exploration funding announced

Several projects in Queensland will benefit from $1.035 million worth of investment from the state in metals and gas.

Minister for State Development and Natural Resources and Mines Dr Anthony Lynham said the projects attracted funding due to their high potential to have impact on exploration success.

“They will focus on developing new exploration techniques and geoscientific information to help mineral and energy-related explorers attract investment and better target exploration opportunities,” he said.

“The current investment climate for explorers is extremely constrained so the Queensland Government is playing its part to assist the exploration needed to develop the mineral and energy projects of the future.”

Lynham said the projects were nominated by the Queensland Exploration Council and the Association of Mining and Exploration Companies.

“This will help attract exploration investment back to Queensland, and support ongoing resource sector growth, jobs, royalties and other significant economic benefits the resource sector delivers for Queensland,” he said.

The projects include three located in north-west Queensland to assist mine generation near Cloncurry, and one in the Surat Basin.

The Cloncurry project funding includes a $90,000 program to develop advanced geochemical detection methods to help explorers better target and discover deep ore bodies.

A $400,000 program has also been established to develop a powerful new suite of geophysical tools, maps and datasets that can be used to lower exploration risk and significantly increase exploration success for copper and gold in the Mount Isa Eastern Succession.

The third is a $345,000 program to use advanced computer simulation to predict significant structural sites of new mineralisation in north-west Queensland, which will be then be validated by ground surveys.

The Surat Basin program focusses on gas reserves, with $200,000 in funding allocated to subsurface geological data modelling and surface mapping to better understand Surat Basin geology, manage aquifer contamination risks and ensure environmentally-sustainable gas extraction.