Applications are open for Round 22 of the Exploration Incentive Scheme’s (EIS) flagship co-funded drilling program.
The EIS is a Western Australian Government initiative that aims to encourage exploration in the State. Open for applications twice a year, the program offers up to a 50 per cent refund for innovative exploration drilling projects, capped at specific amounts.
The latest round follows the State Government’s $5 million EIS funding boost as part of the WA Recovery Plan.
The additional funds will increase the EIS to $15 million in 2020-21, resulting in an extra $3 million being available across co-funded drilling Rounds 22 and 23.
By the end of Round 19, 808 projects had completed 868,300 metres of drilling that resulted in more than 29 discoveries.
Recent successes include Peako’s confirmed copper-silver-gold mineralisation in the East Kimberley and Brightspark Graphite’s discovery of graphite-rich zones near Manjimup.
Mines and Petroleum Minister Bill Johnston said applications for the co-funded drilling program continue to rise, which is evidence of the exploration sector’s resilience.
“A previous economic impact study found that every $1 million invested in the EIS generates $10.3 million of exploration activity in WA,” he said.
Applications for Round 22 close at 5pm on Friday September 18, 2020. For more information, please visit http://www.dmirs.wa.gov.au