Applications for Round 26 of WA’s Exploration Incentive Scheme’s (EIS) are now open

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The Government of Western Australia has announced that applications are now available for Series 4 of the Energy Analysis Program (EAP) and Round 26 of the drilling program co-funded by the Exploration Incentive Scheme (EIS).

EIS is managed by the Geological Survey and Resource Strategy Division (GSRSD) within the Department of Mines, Industry Regulation and Safety (DMIRS).

It is a State Government initiative that aims to encourage exploration in Western Australia for the long-term sustainability of the State‚Äôs resources sector, while the EAP supports the re-analysis of current data to better understand the State’s energy systems.

“Mineral exploration is the core of our resources sector, and the McGowan Government will continue to help companies mitigate the costs and risks associated with exploration drilling. Since 2017, we have provided nearly $80 million in funding for innovative programs and strategies designed to attract exploration investment,” said Mines and Petroleum Minister Bill Johnston in a media release.

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“Mineral exploration expenditure in Western Australia reached a record $2.4 billion in 2021, an increase of 34% on 2020.”

Co-funding in application categories is up to 50 % of direct drilling costs that are now capped at:

  • $220,000 for one or two deep hole(s) application (was $200,000 for one deep hole)
  • $180,000 for a multihole application (was $150,000)
  • $40,000 for a prospector application (was $30,000)

Co-funding will be available for exploration drilling only. The following will not be eligible for co-funding:

  • resource definition drilling
  • appraisal, stimulation and development drilling
  • applicants should note that the government will not support the development of new uranium mines

“With WA accounting for 65% of the nation’s mineral exploration expenditure, I’m sure the strength of our mining sector will be showcased at the Diggers and Dealers Mining Forum – which opens today in Kalgoorlie,” Minister Johnston added.

Applications close on Friday, 26 August 2022.

For more information, go to https://dmp.wa.gov.au/Geological-Survey/Exploration-Incentive-Scheme-1428.aspx

Image credit: https://dmp.wa.gov.au/Geological-Survey/Exploration-Incentive-Scheme-1428.aspx