WA juniors receive exploration funding

The WA Department of Mines and Petroleum has selected nearly 50 companies to receive funding for exploration drilling in the state.

The State Government is supplying the funding from a pool of $5.14 million, marking the eighth year of the exploration funding which has aided more than 640 projects and produced more than 20 new discoveries.

“[These] successfully completed projects have resulted in more than 470,000 metres of drilling across Western Australia,” the DMP’s co-ordinator EIS Margaret Ellis said.

“Among the program’s successful discoveries is the Nova nickel project which will be an operating mine this year, along with gold at Alloy Resources’ Horse Well project and at Gold Road Resources’ Gruyere discovery in the Yamarna greenstone belt and recent finds such as Panoramic Resources’ Savannah North nickel project and zinc at Millennium by Encounter Resources.”

The Co-funded Drilling Program refunds up to 50 per cent of direct drilling costs with caps of $150,000 for a multi-hole project, $200,000 for a single deep hole, and $30,000 for a prospector’s project.

Refunds are made to successful applicants after completion of drilling and submission of reports which are made available to the public on the department’s WAMEX database after a six-month confidentiality period.

The WA Government has committed to $10 million a year in funding for the program until the end of June 2020.

 

 

 

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