Calling all explorers – innovative drilling projects wanted

Explorers keen to uncover Queensland’s richest resources are being urged to apply for a share in $2 million to undertake exploratory drilling projects in under-explored areas of the state.

The grants are being offered under the third round of the Queensland Government’s Collaborative Drilling Initiative.

Mines and Energy Minister Geoff Wilson said the initiative was part of Smart Mining – Future Prosperity, a four-year, $29 million program which started in 2006-07 to increase exploration in Queensland.

“This program is designed to encourage companies to work in frontier areas that would be considered high-risk under normal circumstances,” Mr Wilson said.

“We know exploration can be costly and we want to give these explorers are leg up in their search for undiscovered resources.

“The Bligh Government is committed to supporting industry in its quest to discover new mineral deposits to become the sustainable mining ventures of the future.

“Because today’s exploration will yield tomorrow’s mines and jobs.”

Mr Wilson said in the first two rounds of the program, 37 exploration companies had received $4.3 million in collaborative drilling grants to carry out 47 drilling projects.

Twenty-one of these projects were either underway or completed, with several already showing results, he said.

“Many have already been a technical success, with the discovery of mineralisation prompting further drilling in their respective areas.

“These explorers have then been able to do more drilling, having used the grant funding to tackle what were considered high-risk projects,” he said.

Companies can access grants to recover up to half their actual costs, with a limit per proposal of $150,000. Applicants are required to have granted tenure enabling them to be eligible for a grant.

Proposals for the third round close on Friday 5 December 2008.

Guidelines on how to apply for grants are available at www.dme.qld.gov.au or by emailing: minerals@dme.qld.gov.au

Media contact: Minister’s office 3224 7332.