$2 million in exploration grants allocated

Twenty exploration companies will share in grants of around $2 million for joint industry-government drilling projects throughout the state.

Minister for Mines and Energy Minister Geoff Wilson said the grants were offered under the first round of the State Government’s Collaborative Drilling Initiative.

The Collaborative Drilling Initiative is part of Smart Mining – Future Prosperity, a four-year, $29 million program to increase mineral exploration in Queensland.

“48 applications were received for drilling proposals, which confirms the keen interest in mineral and energy exploration in the state,” Mr Wilson said.

“The main minerals being targeted are gold, copper, lead, zinc and tin, however grants were also awarded for coal, geothermal energy, mineral sands and opal exploration.

“The projects being supported best demonstrated innovative exploration ideas or are located in our under-explored areas,” Mr Wilson said.

Successful projects are located far and wide from Mount Isa to Mareeba and from Quilpie to Cloncurry.

All applications were initially assessed by technical officers within the Department of Mines and Energy and the process was reviewed by an independent panel.

Mr Wilson said that successful exploration, leading to the development of new mines, is a key ingredient for maintaining Queensland’s wealth and sustaining regional communities.

“The number of drilling proposals submitted shows the exploration industry has embraced this program.

“I would like to congratulate the successful applicants and wish them every success,” Mr Wilson said.

Applications for proposals for the second round of the Collaborative Drilling Initiative will close on 7 March 2008, with up to $4 million being made available.

Media inquiries: Brooke Johnson (07) 3224 7332