Applications for round 25 of the WA government’s Exploration Incentive Scheme’s (EIS) co-funded drilling program and series three of the Energy Analysis Program opened this week.
Explorers can receive a refund of up to 50 per cent for innovative drilling projects, with new capped values of $180,000 for a multi-hole project (previously $150,000), $220,000 for one or two deep holes (previously $200,000) and $40,000 for prospectors (previously $30,000).
The co-funded EAP offers an up to 50 per cent refund for up to $50,000 per application.
The co-funded drilling program encourages innovative exploration in greenfields and underexplored areas of Western Australia, while the EAP promotes the re-analysis of existing data to better understand the state’s petroleum and geothermal systems.
Mines and Petroleum Minister Bill Johnstone said the WA government recognised ongoing exploration success was essential for the sustainability of Western Australia’s resources sector.
He continued: “The increased funding caps will help resources companies further mitigate the costs and risks associated with exploration drilling.
“WA competes with several other jurisdictions to attract exploration investment so we will continue to support programs that provide the state with competitive advantages in this area.
“Most recently, Maximus Resources successfully completed drill holes demonstrating a strong potential for high-grade gold mineralisation and Karora Resources encountered significant nickel intersections – thanks to the EIS.”
