Million-dollar mission for new economy minerals

Almost $1 million has been awarded to explorers in a funding round focused on 'new economy minerals' in North and North West Queensland. Mines Minister Dr Anthony Lynham said a record number of exploration companies had taken up the State Government’s call to hunt for the minerals needed for advanced electronics and renewable technologies. “From an unprecedented 61 bids, seven projects have been awarded $965,000 to help open up the untapped minerals bounty around Mount Isa, Cloncurry, Julia Creek, and Georgetown,” he said. “Exploration is the essential first step for any mining endeavour, and our investment has encouraged industry to search for cobalt and rare earth minerals needed for wind turbines, generators and batteries.” Dr Lynham said the data collected from the projects would be made available free from January 2021 via the government’s geological database, to encourage further exploration and mining investment in Queensland. “Everything learned will be shared with the whole industry, which could lead to further exploration and more mineral mines, jobs and exports for Queensland,” he said. The following projects have been funded under the Collaborative Exploration Initiative round, with activities to be completed by the end of May 2020: Chinova Resources has been awarded $200,000 to re-analyse existing soil samples to investigate if there are any new economy minerals south of Cloncurry.Mulga Minerals, a subsidiary of Hammer Metals, has been awarded $193,000 to drill an area between Mount Isa and Cloncurry to obtain samples of rocks expected to contain new economy minerals. VECCO Industrial has been awarded $160,000 to re-analyse drill core samples to investigate if there are any new economy minerals north of Julia Creek.Transition Resources has been awarded $112,000 to re-analyse existing soil and drill samples to help determine the distribution, quantity and quality of new economy minerals in the Cloncurry area.SMA Mining has been awarded $98,000 to drill to confirm if there is enough lithium mineralisation in the Georgetown district to suggest a mine could be economically viable.Moho Resources has been awarded $112,000 to test groundwater from existing water bores and drill holes for indicators of new economy minerals south of Croydon.Mt Dockerell Mining, a subsidiary of Hammer Metals, has been awarded $90,000 to conduct an electromagnetic survey to help define the extent of new economy mineral occurrence in the region south east of Mount Isa. Hammer Metals managing director Dan Thomas said the government’s grants were an invaluable contribution to junior explorers. “The ability for these programs to fund specific areas of interest and collaboration is critical in advancing the mineral prospects across Queensland,” he said. “Hammer’s ground in particular holds great promise for a number of the identified critical minerals and whilst we have recognised and promoted this potential, the Collaborative Exploration Initiative grants will assist immensely in accelerating Hammer’s efforts in exploring for these minerals.” The funding is the first part of $3.5 million in industry grants to be delivered over five years under the state’s $13.8 million New Economy Minerals Initiative. https://www.i-q.net.au/main/state-targets-new-economy-minerals https://www.i-q.net.au/main/new-data-released-from-camooweal-survey

Million-dollar mission for new economy minerals

Industry Queensland

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