Government injects $2.1 million into resources exploration projects in Queensland

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CloncurryFive new resource exploration projects are getting off the ground thanks to a $2.1 million funding injection from the State Government.

Mr Cripps said the five ‘industry priority’ projects would significantly raise Queensland’s resource exploration investment profile and boost the success rate of exploration in the state.

“All these projects were identified by the resources industry and the Geological Survey of Queensland as having the highest potential for success,” Mr Cripps said.

“They will acquire important pre-competitive geological and geophysical data that will help mineral and energy-related explorers attract investment and better target exploration opportunities.”

The five projects are:

  • A deep-penetrating aerial electromagnetic survey south of Cloncurry over highly prospective ground for gold and copper in the Mount Isa Eastern Succession;
  • A two-year project to provide the mining industry with a series of region-wide calibrated spectral datasets, allowing detection of subtle geochemical signatures of buried mineral systems in North Queensland;
  • A two-year study into advanced bulk mining methods to upgrade the economic viability of ore bodies in the Cloncurry region;
  • A mapping and test-drilling program to uncover a potential new economic mineral sand resource on central western Cape York;
  • A study to identify possible hydrocarbon source rocks in the Adavale and Georgina Basins to determine the likelihood of petroleum and deep gas discoveries in these little-explored basins of north west Queensland.

Mines Minister Andrew Cripps said the State Government’s investment would develop new opportunities for the resources industry – and create more jobs for Queenslanders.

“More jobs are now being created in Queensland than in any other state and our support for exploration aims to ensure we remain Australia’s biggest job creator,” Mr Cripps said.

“Successful resource exploration leads to mines, creating more jobs for Queensland families and pumping more money into our regions.

 

 

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