Western Australia encourages exploration through drilling program
August 23rd, 2019
The Western Australian Department of Mines, Industry, Regulation and Safety has called for applications for round 20 of the exploration incentive scheme’s (EIS) co-funded exploration drilling program.
It is offering $5 million a year to encourage innovative drilling at greenfields and under-explored areas of the state.
Explorers can receive a refund of up to 50 per cent for innovative drilling prospects, with caps of $150,000 for multi-hole projects, $200,000 for single deep holes and $30,000 for prospectors.
At the completion of round 17 drilling in June this year, 71 per cent of projects offered a grant completing drilling, far exceeding the historical completion rate of 59 per cent.
Mines and petroleum minister Bill Johnston said the program would continue to encourage exploration in the state.
“Western Australia’s resources industry is keen to explore, and the state government’s EIS co-funded exploration drilling program can help them find the next big project,” he said.
“The scheme’s success is reflected by the high completion rate of co-funded drilling projects, and in the varied mix of new-energy and traditional exploration projects that were successful in round 19 earlier this year.”
The EIS program, alongside the confidence in the state’s mining sector highlighted at the recent Diggers and Dealers Mining Forum in Kalgoorlie, will benefit the state’s economy, according to Johnstone.
“The EIS program continues to produce major discoveries, which can lead to new mines being developed and more jobs for Western Australians,” he concluded. Read more…