More than $2 million offered for joint exploration projects

Twenty-one exploration companies will share in $2.38 million for joint government-industry drilling projects throughout Queensland, Mines Minister Geoff Wilson said today.

The grants have been offered under the second round of the Queensland Government’s Collaborative Drilling Initiative.

Mr Wilson said the Collaborative Drilling Initiative was part of Smart Mining – Future Prosperity, a four-year, $29 million program which started in 2006-07 to increase exploration in Queensland.

“With 61 applications for drilling proposals submitted for the second round of funding, there is little doubt the exploration industry has embraced this program,” Mr Wilson said.

The projects are located across Queensland, with several in the under-explored western region of the state.

Of the 26 projects to be funded, 25 are for minerals and one is for coking coal.

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

“The resources boom has been a magnet for jobs and job security, particularly in the regions. By investing in mineral exploration we’re investing in regional communities and their continued economic prosperity. We’re investing in their future.”

Mr Wilson said projects funded from round one in August 2007have included two technical successes, with mineralisation present in the drill core.

“While it is too early to determine if these discoveries will be developed into mines, we are unwavering in our goal of maintaining Queensland’s wealth by drilling in these under-explored areas to potentially lead to future mines and future jobs,” he said.

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

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

Applications for proposals for the third and final round of the Collaborative Drilling Initiative are anticipated to close in December 2008.

Details of the successful round two applicants and location of sites are in the table below.

NB - A PDF map showing location of sites and relevant exploration companies is available.

Media Inquiries: Caroline Kaurila 3224 7332.