2 March 2022
Applications are now open for Round 15 of the Territory Government’s Geophysics and Drilling Collaborations program with a record $3 million in grants available, the largest pool of funding ever made available for exploration in the Territory
Part of the Resourcing the Territory initiative, the program aims to address geoscientific knowledge gaps, advance exploration activity, and support the discovery and development of resources in the Territory.
Round 15 sees a substantial increase in the total pool of funding and the maximum funding available per project, and a broader scope of eligible exploration activities.
The program provides co-funding assistance of 50 per cent of the program cost, up to $200,000 for selected greenfields diamond drilling programs and up to $150,000 for selected brownfields diamond drilling.
The program also co-funds geophysical surveys, with up to $150,000 available for seismic surveys and $100,000 for other techniques.
The increase in funding and the expansion of the grants program into brownfields areas are direct responses to recommendations from the Territory Economic Reconstruction Commission (TERC)
Information gained from collaborative projects are released to the public six months after the completion of field work to enhance publicly available knowledge on the Territory’s geology and resources, and encourage further exploration.
Round 14 (in 2021-22) awarded $1.7 million in funding to 18 projects from 15 companies.
