Jul 05, 2018

Resources grants drive search for ‘next big thing’

Resources grants drive search for ‘next big thing’ The state government is confident a new investment in minerals exploration will unearth significant finds in north west Queensland.

The next big thing in Queensland resources could be unearthed as the latest batch of exploration funds come up for grabs.

Mines Minister Dr Anthony Lynham today put out the call for applications for $2.4 million worth of grants under the joint government-industry Collaborative Exploration Initiative.

“This initiative has generated 48 new mineralisation discoveries over the past 10 years,” he said.

“This includes Red Metal Limited’s deep drill hole, leading to the discovery of the highest lead and silver grades identified on the project to date and previously unknown copper mineralisation.

“I am confident that these grants will lead to more exciting new discoveries.”

Collaborative Exploration Initiative grants are a joint initiative between government and industry encourages explorers to look for innovative ways to make new discoveries.

Dr Lynham said the program had been changed in response to industry feedback so that  successful applicants could choose the calendar year in which their work could be delivered.

“This means Queensland’s wet season can be avoided and on-ground time maximised,” he said.

Dr Lynham said information gained as part of the initiative strengthened Queensland’s overarching geological knowledge.

“With the challenges of discovering new deposits, and at greater depths, the initiative has been expanded to support a broader range of exploration techniques, giving industry a greater range of tools to use.”

Applications will be decided and awarded before the end of this year.

Since it started, 64 companies – most junior explorers – have shared in funding to commence exploration, and invested more than $21 million themselves.

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