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PERTH (miningweekly.com) – The Northern Territory has opened up applications for its first grants programme under its A$26-million Resourcing the Territory initiative.
Minister for Primary Industry and Resources Ken Vowles said the Geophysics and Drilling Collaborations programme will provide collaborative funding for the costs of drilling in areas of the Territory where there is a lack of geological information.
“The resources sector is a major driver of our economy and employs more than 4 000 people. The Territory government is supporting the development of the industry through this initiative.
“The Geophysics and Drilling Collaborations programme will help fill the gaps in our knowledge about the resources potential of certain areas, which could open them up for development and create jobs.”
The programme provides co-funding of up to 50%, to a maximum of A$125 000, for diamond drilling programmes and A$100 000 for non-diamond drilling programmes and geophysical surveys.
“Diamond drilling is more valuable as it produces a solid core of rock that provides the most geological information,” Vowles said.
“The cores are kept by the Northern Territory government for further analysis and to add to our knowledge bank.”
The Geophysics and Collaborations programme has been running for 11 years, but this year it has been enhanced to encourage more exploration and create more Territory jobs.
“Total funding has increased from A$750 000 to A$1-million, and non-diamond drilling programmes are eligible for co-funding for the first time. The programme has also been re-designed to maximise local industry participation by making service and supply by Northern Territory-based companies eligible for co-funding.
“These changes were made based on feedback from explorers as part of an independent review into the Territory’s exploration initiatives,” Vowles said.
The funding is for programmes undertaken in 2018 and applications close on May 24.