EXPLORATION & DEVELOPMENT

Fresh EIS grants awarded

ANOTHER 42 Western Australian projects will share in $A4.75 million in co-funded drilling grants, with two of the majors seeking copper and gold in the Pilbara.

Kristie Batten
Fresh EIS grants awarded

Rio Tinto Exploration won a grant to drill a copper-gold target near Telfer, in the same neighbourhood as it has committed to spend up to $65 million on Antipa Minerals’ projects.

Nearby, Antipa won two grants for its Citadel and Minyari Dome projects.

Fortescue Metals Group received three grants for Pilbara drilling, though the company is targeting copper-gold, not iron ore.

FMG is spending a small portion of its $40 million exploration on copper-gold exploration in Australia and Ecuador.

Encounter Resources and Chalice Gold Mines won two grants each.

Other notable recipients of grants under Round 14 of the program included developer Gold Road Resources and rumoured Super Pit buyer Minjar Gold.

The Co-funded Drilling Program refunds up to 50% of direct drilling costs with caps of $150,000 for a multi-hole project, $200,000 for a single deep hole and $30,000 for a prospector's project.

"Encouraging exploration is the key to the continuity of Western Australia's vital resources industry, which will underpin the state's economy for decades to come,” Mines and Petroleum Minister Sean L'Estrange said.

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