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$1.5 million in collaborative drilling grants issued to boost exploration

Collaborative DrillingSixteen resource companies will share in $1.5 million in collaborative drilling grants issued by the Queensland government as part of a program to boost exploration in the state.

Mines Minister Andrew Cripps said junior explorers in particular would benefit from the collaborative drilling grants, which cover half the drilling costs of a project, up to a maximum of $150,000.

The successful exploration projects will focus on gold, copper-gold, zinc-lead-silver, uranium and coal deposits in greenfield and brownfield regions of Queensland.

The 16 successful projects from round eight of the Collaborative Drilling Initiative are part of the Queensland Government’s $30 million Future Resources Program and will share $1,581,350.

“More jobs are now being created in Queensland than in any other state and supporting exploration projects will help ensure we continue to lead Australia in job creation,” Mr Cripps said.

“I want Queensland to become Australia’s leading state for both exploration investment and jobs growth,” Mr Cripps said.

Since the Collaborative Drilling Initiative started in 2006, more than $5.56 million has been provided to 48 companies to carry out 67 exploration projects.

More information about the Collaborative Drilling Initiative is available at: http://mines.industry.qld.gov.au/mining/collaborative-drilling.htm