More than $6 million in co-funded drilling grants have been awarded to 40 project in Western Australian, with copper, gold and critical minerals among the key exploration targets.
The funding of around $6.16 million, provided through round 34 of the WA government’s Exploration Incentive Scheme (EIS), will support 36 applicants exploring prospective and under-explored regions in the state.
Copper features prominently in this round, with around half of the drilling programs targeting the mineral either as a primary focus or within multi-commodity systems.
More than a quarter of applicants are pursuing gold, while 12 projects will target critical minerals including rare earth elements, cobalt, niobium, lithium and tungsten.
Almost two-thirds of successful applicants are based in the Goldfields-Esperance and Pilbara regions.
WA mines, petroleum and exploration minister Daniel Pastorelli said the scheme helped explorers pursue opportunities that might otherwise remain undeveloped.
“That support is particularly important in remote and under-explored parts of the state, where the potential rewards can be significant though the risks are often higher,” Pastorelli said.
“It’s encouraging to see such a diverse range of projects being pursued through this round, reflecting the depth and resilience of WA’s resources sector.”
Recent EIS success stories include Black Canyon, whose drilling confirmed manganese mineralisation over a 3km strike and contributed to a maiden mineral resource estimate.
Co-funded drilling has also returned encouraging gold results for Ausgold Exploration, Great Boulder Resources and Cosmo Metals, according to the state government.
Pastorelli said WA accounted for around 68 per cent of national mineral exploration expenditure and was home to almost 60 per cent of the country’s exploration companies.
“When exploration succeeds, so too does WA which is why investing in early-stage discovery remains so important to continue to grow our economy and create more jobs,” Pastorelli said.