Sixteen mining and exploration projects will share in approximately $780,000 in grants from the fifth round of the Tasmanian Government’s Exploration Drilling Grant Initiative (EDGI) program.
Since 2018, the EDGI initiative has provided more than $1.5 million to industry and investors to help identify new greenfield mining opportunities, as well as now supporting exploration of existing mine or mining lease sites.
The EDGI program provides up to $50,000 for direct drilling costs and $20,000 for helicopter support, if required, for successful applicants wanting to undertake mineral exploration with a view to opening viable operations.
Successful fifth round grant recipients include Spero Resources, Moina Gold, Stellar Resources, Rockwell Minerals and Flynn Gold.
Minister for Resources Guy Barnett said Tasmanian mining and minerals processing supports more than 5600 jobs and contributes more than $2 billion a year into the state’s economy through exports alone.
“The 16 projects announced under Round 5 will share in approximately $780,000 in funding, with 11 grants supporting greenfield exploration and five re-examining existing sites,” he said.
“These projects will involve more than 12 kilometres of exploration drilling. By opening the program to existing sites we are providing the opportunity to salvage even more valuable minerals like gold, copper, zinc, tin or iron from already developed sites which would have reasonably modest restart costs and lead-in time if the exploration results prove positive.
“Growing this sector will provide a vital boost for our regional communities, small businesses and families, especially in regions like the North-West Coast and West Coast.”
Barnett said the aim of the funding is to facilitate the discovery of new projects which are necessary for the long-term future of Tasmania’s mining industry.
“All up, our Exploration Drilling Grant Initiative is expected to drive a 60 per cent increase in greenfield drilling to open up sites that may not have previously been economically attractive for exploration,” he said.
“The Tasmanian Government continues to deliver for the mining and minerals processing sector with applications for Round 6 of the EDGI grants expected to open late this year.”