Seven Queensland mining companies have gained funding from the state government to support their exploration activities in the North West. Teck Australia, Ripple Resources, Yappar Resources, Footprint Resources, Sector Projects, Red Metal and Mt Dockerell, received more than $600,000 to support drilling projects for zinc, copper, silver, lead and gold.
The funds come from the state’s collaborative drilling initiative which has supported nearly $27 million worth of exploration in remote areas in the state. Around 40 major mineral deposits have been discovered in the state’s remote areas in previous exploration projects.
The Collaborative Drilling Initiative funding empowers companies to undertake projects in frontier areas, and create projects that may have never commenced due to the costs and risks involved in exploring in remote areas.
Seeking new discoveries using the best science available will boost investment in exploration and maintain the pipeline of metal production from the North West mineral province to eventually replace older mines.