The Queensland Exploration Council (QEC) has welcomed the Palaszczuk Government’s roll out of exploration grants under the joint industry-government Collaborative Exploration Initiative (CEI).
QEC Chair Brad John said the grants would deliver $2.4 million in funding to help reduce the costs and risks involved in exploration.
“I’m pleased to say this initiative has been an outstanding technical success for exploration. It encourages explorers to apply innovative techniques to explore in areas of perceived lower prospectivity,” he said.
“Explorers will be using the best science available and each new drill hole improves the industry’s knowledge of resources that belong to all Queenslanders.
The CEI has been running for over 12 years reaching more than 60 companies and achieving close to 50 significant mineral deposit discoveries in underexplored areas of the State.
“As well as Government funding for the initiative, companies have invested about another $21 million to maximise the benefit of the investment for Queenslanders,” he said.
Mr John said the QEC supported the Government’s decision late last year to extend the CEI to include other exploration techniques such as geophysics and geochemistry, not just drilling.
“It’s an important conduit for research and development in the sector,” he said.