QLD Government injects $1m in metal and gas exploration projects

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Image credit: www.dmp.wa.gov.au

Minister for State Development and Natural Resources and Mines Anthony Lynham announced a $1 million investment in four geoscience projects to boost exploration growth in Queensland’s prime north-west metals and south-west gas zones.

Image credit: www.dmp.wa.gov.au
Image credit: www.dmp.wa.gov.au

The grants follow last month’s release of 11,000 square kilometres of land for exploration tenders seeking potential investors from around the world to explore the “potentially-rich” petroleum and gas regions of Queensland’s far south-western corner.

Three of the four projects are located near Cloncurry in north-west Queensland and include:

  • A $400,000 program to develop a powerful new suite of geophysical tools, maps and datasets that can be used to lower exploration risk and significantly increase exploration success for copper and gold in the Mount Isa Eastern Succession;
  • A $345,000 program to use advanced computer simulation to predict significant structural sites of new mineralisation in north-west Queensland, which will then be validated by ground surveys;
  • A $90,000 program to develop advanced geochemical detection methods to help explorers better target and discover deep ore bodies.

The fourth project, which is located in the Surat basin and focuses on gas exploration, consists of:

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  • A $200,000 program of subsurface geological data modelling and surface mapping to better understand Surat Basin geology, manage aquifer contamination risks and ensure environmentally-sustainable gas extraction.

Dr Lynham said the projects were targeted because they had the “highest potential” to impact on exploration effectiveness and success.

“They will focus on developing new exploration techniques and geoscientific information to help mineral and energy-related explorers attract investment and better target exploration opportunities,” he said.

“The current investment climate for explorers is extremely constrained so the Queensland Government is playing its part to assist the exploration needed to develop the mineral and energy projects of the future.”

The Minister said the Cloncurry region projects would help discover the next generation of mines in Queensland’s North West Minerals Precinct and contribute to the state’s overall economy.

“This will help attract exploration investment back to Queensland, and support ongoing resource sector growth, jobs, royalties and other significant economic benefits the resource sector delivers for Queensland,” he said.