Geophysics and Drilling Collaborations grants
Stimulus for the exploration industry as Geophysics and Drilling Collaborations grants announced.
More than $0.9 million has been committed to support 12 exploration projects proposed by 10 companies as Round 13 of the Geophysics and Drilling Collaborations program grants are announced.
The program provides collaborative funding of 50 percent, up to $125,000 per project of the total costs for drilling and geophysical programs by industry in areas of the Northern Territory (NT) where there is a relative lack of geological information.
A total of $935,000 has been awarded to three diamond drilling, two reverse-circulation drilling and seven geophysical surveys.These projects are targeting a wide range of commodities including gold, copper, uranium, lithium, zinc and nickel.
The successful applicants are Inca Minerals Ltd, Icopper Pty Ltd, Ismins Pty Ltd, Strategic Energy Resources Ltd, IGO Ltd, Gempart (NT) Pty Ltd, Core Lithium Ltd, Prodigy Gold NL, King River Resources Ltd and Viva Resources Pty Ltd.
Many of the co-funded drilling projects will also provide work for locally based contractors providing services such as earthworks, drilling and laboratory analysis.
All data and drillcore from the program becomes publicly available after six months, and makes a valuable contribution to the growing body of knowledge on the Territory’s geology and resource potential.
The program is part of the Northern Territory Government’s $26 million Resourcing the Territory initiative, which includes geoscience and industry stimulus programs, to increase exploration activity and success rates, and open up new areas of the Territory for exploration.
The resources sector, both in exploration and production, creates jobs, helps build our regions, grows wealth for Territorians, and contributes to improving essential infrastructure such as transport corridors.
Find out more about the Geophysics and Drilling Collaborations grant recipients