Applications have opened for both Round 28 of the Exploration Incentive Scheme’s (EIS) flagship drilling program, and Series 6 of the Energy Analysis Program (EAP), following a $1 million funding increase.
Launched in 2009, the EIS program supports innovative exploration in greenfields, and underexplored areas of Western Australia. The EAP program encourages exploration of petroleum and geothermal resources using existing state resources, including drill core, sidewall core and cuttings, and existing data.
The extra funding for this co-funded drilling round was announced in the Western Australian State Budget 2023-24, resulting in a total of $7 million now available across the two application rounds each year.
Recent success stories include Caspin Resources, who received EIS funding in 2021 for exploration at its Mount Squires project. Drilling found a significant molybdenum-lead copper-gold geochemical anomaly.
The company received further EIS funding in early 2023 to continue exploration at Mount Squires, including drilling its Duchess East prospect, where earlier work uncovered near-surface rare earth elements mineralisation.
Another successful EIS-supported project is Norwest Minerals’ maiden 20-hole drilling program at its Arunta West Project in the Pilbara, which found significant shallow mineralisation of rare earth elements.
Western Australian Mines and Petroleum Minister, Bill Johnston, said that mineral exploration is one of Western Australia’s most important sectors, which is why the State Government will continue to support companies.
“It’s especially pleasing to see successful EIS applicants uncover the critical minerals needed to support our national and global decarbonisation efforts,” Mr Johnston said.
Applications for Round 28 and Series 6 close at 4pm Friday 1 September 2023.
