A rise in mining industry optimism is expected to be reflected in Round 19 of the Exploration Incentive Scheme’s (EIS) Co-funded Exploration Drilling Program.
Mines and Petroleum Minister Bill Johnston announced the opening of Round 19 at the Geological Survey of Western Australia’s annual Open Day in Fremantle today.
The highly popular program provides $5 million a year to encourage innovative drilling in greenfields and under-explored areas of the State.
Explorers can receive a refund of up to 50 per cent for innovative drilling projects, with caps of $150,000 (multi-hole project), $200,000 (single deep hole), and $30,000 for prospectors.
Applications close on April 5, 2019. For more information, visit https://www.dmirs.wa.gov.au
As stated by Mines and Petroleum Minister Bill Johnston:
“Applications for the co-funded drilling program continue to rise, which is evidence of the growing confidence in our State’s mining industry.
“The scheme, which celebrates its 10th anniversary in April, has a long history of success stories. Most recently, Bellevue Gold discovered the high-grade Viago lode and Independence Group found the impressive Andromeda copper-zinc discovery.
“Exploration is vital to the future as it helps to target discoveries that may lead to the next big mine, leading to job creation particularly in regional areas.
“A previous economic impact study found for every $1 million invested in the EIS generates $10.3 million of exploration activity in WA.”
