The Queensland Government has awarded 16 exploration projects with more than $1.43 million in grant money for targeted drilling projects through the Collaborative Drilling Initiative (CDI).
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Minister for Natural Resources and Mines Dr Anthony Lynham said the successful projects will target gold, copper-gold, base metals, graphite and phosphate in greenfield and brownfield areas of Queensland.
“The Palaszczuk Government supports the responsible and sustainable development of resource sector projects that will deliver jobs, regional development opportunities and ongoing economic benefits for Queensland,” he said in a media statement.
“Nine of the 16 projects will be in North West Queensland which is globally recognised as a strong and competitive mineral producing region with high-quality copper, silver, lead, zinc, gold and phosphate deposits. A further five projects are in north Queensland while the remaining two are in southern and south-west Queensland.”
He said the projects would boost exploration throughout the state and unlock the resources that will support the jobs of the future in the north-west and other areas of Queensland.
“That is why the government is providing funding to support the test drilling of new exploration targets through the Collaborative Drilling Initiative (CDI) of the $30 million Future Resources Program. A total 38 applications were received and independently assessed for CDI Round 9 with the 16 successful projects to share a total $1,431,275 in grants,” the Minister said.
“The successful projects were chosen by the Geological Survey of Queensland and an independent panel for their innovative exploration proposals or location in under-explored areas of Queensland. Junior explorers in particular will benefit from these collaborative drilling grants which cover half the drilling costs (up to $150,000) of a project.”
The CDI provides funding assistance to drill test innovative exploration concepts that have potential to increase exploration investment in Queensland including expanding exploration into under-explored areas. The Initiative is open to existing mineral, petroleum, gas, coal and geothermal explorers.
More than $5.99 million in government grants have been provided to 52 companies for 72 completed exploration projects since the CDI started in 2006.
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