The Queensland Exploration Council (QEC) has congratulated the Palaszczuk government after seven mineral and resources companies received funding for drilling projects in North West Queensland.
QEC Chairman Geoff Dickie said the Collaborative Drilling Initiative would deliver $600,000 to both small and large explorers.
“In previous years this initiative has been a staggering technical success for exploration, specifically the discovery of significant mineral occurrences in Queensland,” Mr Dickie said.
“Explorers will be able to start drilling for lead, copper, gold, and zinc mines in the coming weeks.
“The focus on the North West is an important recognition of the region’s extraordinary mineral potential.”
Minister for Natural Resources and Mines Dr Anthony Lynham announced the initiative at the Queensland Resources Council (QRC) annual lunch last year to support the exploration sector after the recent downturn.
QRC Chief Executive Ian Macfarlane said the government’s proactive approach to exploration encourages companies to undertake exploration in remote areas.
“This funding helps reduce the costs and risks involved in exploring and will allow these companies to drill in areas that are deeper and more difficult to explore,” Mr Macfarlane said.
“These explorers will be using the best science available and each new drill hole improves the industry’s knowledge of the resources that belong to all Queenslanders.”
The seven companies are, Ripple Resources, Teck Australia, Yappar Resources, Footprint Resources, Sector Projects, Red Metal and Mt Dockerell Mining.