Territory grants a major boost for exploration

lithium, exploration, drilling, results, assay

The Northern Territory Government has opened a record $3 million round of grants for the Geophysics and Drilling Collaborations program, addressing knowledge gaps and increasing exploration.

The program forms part of the Resourcing the Territory initiative which will also be expanded to $9.5 million per year from July 1, 2022.

The $3 million Round 15 grants will see co-funding assistance provided for up to 50 per cent of an applicant’s program cost – up to $200,000 for greenfields drilling and up to $150,000 for selected brownfields drilling.

Geophysical surveys will also be funded with up to $150,000 for seismic surveys and $100,000 for other techniques.

Mining and Industry Minister Nicol Manison said the government was encouraged by the number of projects underway in the Territory.

“We remain focused on securing investment opportunities for the Territory, and creating more local jobs,” she said.

“The resources sector is playing an enormous role in our comeback, with 20 mining projects working towards a Final Investment Decision in the Territory with a combined value of $6.56 billion and potential to create up to 5000 construction jobs and 3500 ongoing jobs.”

“Our message is clear, if you are looking for the next resource development, come to the Territory.”

The Round 15 funding is almost double that of the previous round which saw 18 projects from 15 companies share in $1.7 million.

The results of the funding will also benefit the wider mining industry, as information gained from any government funded projects will be released to the public six months after the works are completed.

For more information and to apply, visit Applications close on 29 April 2022.

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