Over $3m Awarded in Record Resource Grants
The Territory Government is continuing to drive economic development and maximise resource exploration in the Territory with more than double the projects awarded funding in the latest round of resource grants.
$3.06 million has been awarded by the Territory to support 29 projects from 23 companies under the Geophysics and Drilling Collaboration program.
The grants program is part of the $9.5 million per annum Resourcing the Territory Initiative which is designed to attract and support mineral exploration, drive more mining development and create more jobs across the Territory.
The Territory Government will increase its annual funding to the Resourcing the Territory Initiative to $9.5 million from July 2022 to increase exploration activity and help bring forward resource development in the Territory.
The expanded program has been designed to meet recommendations in the Territory Economic Reconstruction Commission final report.
The projects funded under the Geophysics and Drilling Collaboration program include 6 greenfields drilling programs, 8 greenfields geophysics programs, 7 brownfields drilling programs and 8 brownfields targeting programs.
These projects are targeting a wide range of commodities including gold, copper, lithium, vanadium, nickel, zinc and uranium.
The greenfields drilling programs are targeting copper, gold, lithium and vanadium in areas with little existing previous drilling in the Barkly Tableland, Tennant Creek region, Tanami region and central Australia.
The brownfields drilling programs are testing at or near known mineral deposits in the Tennant Creek region, Pine Creek region and central Australia, primarily targeting gold as well as lithium and possible nickel and copper.
