Round 16 opens for Co-funded Exploration Drilling Program

Following last month's announcement to continue funding the $10 million a year Exploration Incentive Scheme (EIS), Mines and Petroleum Minister Bill Johnston today opened applications for Round 16 for the Co-funded Exploration Drilling Program.

Now in its 10th year, the highly competitive scheme encourages increased private sector resource exploration that could help find new mineral and energy discoveries.

Exploration increases knowledge of the State's geology and resources, while also helping increase employment opportunities.

Successful Round 16 applications for projects in 2018 will be refunded up to 50 per cent of direct drilling costs - with caps of $150,000 for a multi-hole project, $200,000 for a single deep hole, and $30,000 for a prospector's project.

The program has resulted in major discoveries including the Nova nickel-copper-cobalt mine east of Norseman, which was supported by EIS geophysics data and co-funded drilling.

Other success stories include the Camelwood nickel deposit, the Yeneena copper deposit, Millennium zinc and the Dusk Til Dawn gold discoveries.

Every $1 million invested in the EIS resulted in $10.3 million of exploration activity. 

Applications close on Friday October 20, 2017. For more information, visit http://www.dmp.wa.gov.au

Comments attributed to Mines and Petroleum Minister Bill Johnston:

"The EIS is vital for maintaining investment and exploration activity in the resources sector. It also supports jobs in WA, which the McGowan Government is committed to.

"Applications tend to reflect market changes, two out of the 43 successful applications from Round 15 were for lithium exploration. We're expecting Round 16 applications to be focused on a range of commodities throughout WA's greenfield regions.

"Our continued investment in the EIS helps create economic opportunities for the future."