The Queensland Government has awarded $1.13 million of exploration grants, helping nine companies find new deposits of copper, gold and base metals in the state’s north west.
The program has generated 48 new mineralisation discoveries over the past 10 years, with 58 companies sharing in funding to launch exploration activities.
Queensland Natural Resources and Mines Minister Anthony Lynham said that while the North West Minerals Province provided a golden opportunity for explorers, the positive flow-on effects for local business and the communities added to the impact.
“Funding through the Collaborative Exploration Initiative allows companies to kick-start projects that may have never have got off the ground due to the costs and risks involved in exploring in remote regions of Queensland,” Lynham said.
“We have to get innovative if we are going to get these projects moving, and the Collaborative Exploration Initiative is an excellent example of how a small investment reaps big rewards for Queensland.
“It’s for this reason that we have expanded the program to include other forms of exploration like geophysics and geochemistry – rather than only the traditional drilling methods.”