Record round 11 uptake for exploration grants
Round 11 of the Geophysics and Drilling Collaboration grant program has seen a record number of grant applicants, and 15 projects from 12 companies approved for grant funding.
In total, 36 grant applications were received, which included 18 diamond drilling applications, six reverse-circulation drilling applications and 12 geophysics applications.
“It is a great show of confidence in the exploration sector in the NT that we have received such a strong number of grant applications this year,” Executive Director Northern Territory Geological Survey Ian Scrimgeour said.
The program provides co-funding assistance of 50% of the program cost up to $125 000 to successful applicants for selected exploration diamond drilling programs and up to $100 000 for selected exploration reverse-circulation drilling and geophysical acquisition projects in areas where there is a paucity of geological information.
Changes made to the initiative this, as part of the new Resourcing the Territory initiative, included increasing the total funding from $750,000 to $1 million, increasing the funding available for diamond drilling programs from $100,000 to $125,000 per project, making additional drilling types such as reverse circulation (RC) drilling eligible for co-funding for the first time, as long as the drilling is in greenfields areas, and allowing up to $10,000 per project in additional funding per project to co-fund service and supply by NT-based companies, through a new Territory Supplier Incentive.
The successful applicants in round 11 of the Geophysics and Drilling Collaboration grant program are:
- Prodigy Gold NL – Capstan Anticline Stratigraphic Drilling
- Marindi Metals Limited – Caranbirini Anomoly B
- MMG Exploration Pty Ltd – Cow Lagoon
- Todd River Resources Limited – Rover Drilling
- Todd River Resources Limited – McArthur Drilling
- Walhallow Creek No 2 Pty Limited – Bowgan Project
- Vista Gold Australia – Wandie-Azaria drilling
Reverse circulation drilling
- PNX Metals Ltd – Woolianna gabbro orthomagmatic mineralisation
- Red Metal Limited – Gosse River Project
- Independence Group NL – Lake Mackay
- Independence Group NL – Raptor
- Gempart (NT) Pty Ltd – Musgrave South West No-Co Project
- Lagoon Creek Resources Pty Ltd – Murphy Project
- Northern Cobalt Limited – Woolongong Project
- Gempart (NT) Pty Ltd – Giles Creek
Visit the Geophysics and Drilling Collaborations page for more information.