PERTH (miningweekly.com) – The Victorian government has set aside a further A$1.2-million in funding for five new projects hunting for gold in central northern Victoria.
This was the second round of the government’s A$15-million TARGET grants programme, aimed at providing exploration incentives to metals explorers to invest in finding new deposits of gold and base metals, create jobs and get a broader scientific understanding of Victoria’s geology.
The grants cover up to half the cost of a broad range of eligible exploration activities including geophysical surveys, drilling and sampling analysis.
The second round of TARGET funding focuses on the northern part of the Bendigo geological province, an area of 14 000 km2, stretching from Bendigo to Echuca and Swan Hill on the Victorian border.
This area is considered highly prospective for gold with researchers predicting significant undiscovered gold deposits could be in the region.
“We have a rich history of gold mining in Victoria, and these grants will help companies invest in the next big discovery,” said Resources Minister Wade Noonan.
“These are exciting projects in an area considered highly prospective for gold. We’re driving real investment in minerals exploration to grow local economies and create new jobs for regional communities.”