Grants give explorers the drill

Junior explorers keen to make their mark and millions in mining in Queensland have leapt at the chance to take up State Government grants.

Mines and Energy Minister Geoff Wilson said the grants gave junior explorers a helping hand with on-site drilling work, especially in the state’s resource-rich north west.

“A number of junior explorers in the Mount Isa region were given a leg-up with grants of more than $1.5 million for a range of projects,” Mr Wilson said.

“It’s one of the richest resource regions in the world and we’re keen for explorers to tap into its hidden potential.”

Since the second round of drilling grants mid-year, nine exploration companies have used the grants to carry out drilling work in search of minerals.

There are early encouraging signs for Citigold Corporation’s deep drilling program near Charters Towers which has led to the discovery of a significant mineralised intersection close to the Brilliant West structure.

Results from Auzex Resources Limited’s Khartoum drilling program north of Mount Garnet indicate pipe-like bodies with economic tin grades extending to at least 100 metres deep. The size and grade of tin mineralisation could lead to a significant new tin discovery.

From their drilling tests, Renison Consolidated Mines NL found the structure and gold mineralisation on the Agate Creek Fault at their Friar Tuck prospect east of Georgetown was significant and continuous.

The Minister said several collaborative drilling projects – where small companies pool their resources – was turning into a technical success story.

“Drilling has produced new geological information, always a bonus for explorers as it helps them better target new mineral deposits,” he said.

“Explorers are keen to take up the grants. My Department has received 48 applications in the first round and more than 60 applications in the second round. So far, 42 exploration companies have received more than $4.5 million in grants and they have carried out drilling work on around 60 projects.

“Today’s exploration can lead to tomorrow’s mines and that means local jobs and a boost to local economies,” he said.

Applications for the next round of Collaborative Drilling Initiative grants close on 5 December this year.

Media Inquiries: Ellen McIntyre 3225 1819