State Government dollars are now on the table for explorers in the latest incentive to discovering new mineral deposits in northwest Queensland.
“Our Strategic Blueprint for Queensland’s North-West Minerals Province released last month sets the direction and these are the dollars to drive the next wave of resource development for the region.”
“Exploration is the lifeblood of the resources sector and financial incentives encourage explorers to try new and challenging areas and terrains as well as new technologies.”
The Minister says the added bonus is that the geological information unearthed becomes available to all explorers at the government’s geological ‘libraries’ at Mount Isa and Brisbane.
Grants meet up to half of the direct activity costs, including drilling and geophysical and geochemical surveys, to a maximum of $200,000.
An incentive of up to an additional $100,000 applies to Round 1 if the project is completed by 10 August 2018.
Minister Lynham says the initiative is designed to drive exploration in new and challenging terrains.
“We have to push into deeper and more difficult areas to find new deposits of the many minerals we all use day to day.”
As an example, previous grant recipient Red Metal Limited reinterpreted historical company data at their Maronan prospect near Cloncurry to propose a new geological model in an area that was previously deemed uneconomic.
Base metal explorer put down a deep drill hole and found high lead and silver grades and previously unknown copper mineralization.
“Quite simply this information is pure gold, and adds to Queensland’s extensive geological knowledge.”
For more information visit business.qld.gov.au/industries/invest/mining/exploration-incentives/exploration-grants