The South Australian Government has committed a further $11.5 million to its Accelerated Discovery Initiative (ADI) for advancing mineral exploration, extending the program to 2025.
The ADI provides co-financing to mineral exploration activities to attract greater exploration investment, bringing forward new mineral resource discoveries, jobs, Aboriginal employment opportunities and royalties, while focussing on supporting innovative technologies, collaboration and new exploration concepts to fast-track mineral exploration across the state.
The ADI plays an important role in maintaining South Australia’s international leadership in mineral exploration development.
“We expect to receive a high level of interest during round three, with a funding of up to $3 million reflecting the global significance of ADI and the calibre of proposals,” Minister for Energy and Mining Dan van Holst Pellekaan said.
“ADI is Australia’s most diverse exploration co-funding program, offering support for traditional drilling and geophysics, as well as other non-conventional exploration techniques, frontier logistics support, technology and research innovation.”
During the first two rounds of the ADI, funding of $7.4 million was allocated to 36 initiatives.
“Successful projects will bolster activities and support innovative technologies to generate and test new exploration ideas and increase new data sets to help accelerate data sharing between entities within the exploration sector,” van Holst Pellekaan said.
“In addition to innovative exploration programs, ADI initiatives have fostered meaningful employment and upskilling of Aboriginal employees and businesses.”
Barton Gold managing director and chief executive officer Alexander Scanlon said the ADI has allowed his company to accelerate its innovation-driven exploration approach to the central Gawler Craton.
“ADI facilitated a trial of deep ground penetrating radar (GPR) in the region and early results are compelling,” Scanlon said.
“We are looking at an order of magnitude gain in cost and time to target delineation, acquiring these targets for less than $200,000 over a 1–2-month period, versus $2-$3 million of drilling over a 1–2-year period of time.”
The ADI extension will significantly contribute to increased exploration activity and the discovery of new mineral resources to achieve the SA growth state target of $300 million in annual exploration investment by 2025 and $13 billion in exports by 2030.