WA exploration funding

The Western Australian Government’s Industry Drilling Program has attracted 168 applications for drilling projects in 2009-10, WA Minister for Mines and Petroleum Norman Moore has announced.

The drilling program, part of the $80million Exploration Incentive Scheme (EIS) funded through the WA Government’s Royalties for Region Program, will provide up to 50% funding per project with a cap of $150,000 for successful applicants.

According to Moore, the number of applications could lead to more than 800,000 m of exploration drilling would occur in WA’s under explored areas.

“The high number of applications to explore for minerals throughout our under-explored areas clearly recognises the enormous potential for new discoveries across WA,” he said.

The program’s applications targeted a range of commodities, including gold, nickel, iron ore and coal.

A panel of industry experts will assess the applications, with a particular interest in proposals which have potential to advance exploration activity in under-explored areas.

The applications will be ranked, with $3million of funding distributed to the highest ranked projects.

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