WA Mines and Petroleum Minister David Michael has announced the successful applicants for Round 31 of Western Australia’s Exploration Incentive Scheme (EIS) Co-funded Drilling Program, Series 8 of the Energy Analysis Program (EAP), and Venture 2 of the Co-funded Geophysics Program (CGP), with a combined $11.2 million in funding allocated across the three initiatives.
A total of 77 projects will benefit from the latest round of grants, aimed at unlocking new mineral and energy discoveries across the state.
Forty-nine projects will receive $7.8 million to support drilling, 25 geophysics ventures will share $3.2 million, and three EAP projects will receive a combined $200,000.
Encouragingly, about 50 per cent of the successful drilling applicants are targeting critical minerals, reflecting the state’s strategic focus on resources essential for the energy transition.
Meanwhile, 75 per cent of CGP ventures are dedicated to uncovering new deposits, further cementing Western Australia’s position at the forefront of global resource development.
The EIS has a proven track record of supporting significant discoveries.
Recent success stories include Ora Banda Mining’s identification of high-grade gold mineralisation at its Little Gem discovery, with co-funding from Round 29.
The company has since completed a five-hole diamond program, intersecting multiple mineralised zones, including the Diamond Lode and Ruby Lode.
Other notable outcomes include significant gold mineralisation at Yandal Resources’ New England Granite prospect (Round 28), high-grade niobium intercepts from Dreadnought Resources’ Stinger prospect (Round 28), and the discovery of a new rare earth element lode at Kingfisher Mining’s MW2 prospect (Round 29).
Minister Michael emphasised the long-term vision and impact of the EIS, stating: “The [WA government’s] Exploration Incentive Scheme is helping to shape a future where the benefits of our mineral wealth will last for generations.
“The EIS plays a pivotal role in overcoming the financial barriers that often prevent early-stage projects from reaching their full potential, and we are committed to ensuring these opportunities prosper.
“I encourage all eligible companies to take advantage of the EIS and continue their valuable work in researching, exploring, and developing the minerals that are shaping our future.”
Applications for Round 32 of the Co-funded Drilling Program will open in August 2025, while Series 9 of the Energy Analysis Program and Venture 3 of the Co-funded Geophysics Program will open in February 2026.
For more information on the EIS and this round’s successful applicants, visit the Geological Survey of Western Australia’s website.
