Critical minerals a focus for latest round of Tasmanian drilling exploration grants program

Successful applicants under the latest round of Tasmania’s drilling exploration grants program have been announced.

Beginning in 2018, the grants program encourages and supports industry and investors to identify new and potentially lucrative greenfield mining opportunities as well as the re-examination of existing mine or mining lease sites.

It provides up to $50,000 for direct drilling costs and $20,000 for helicopter support, if required, for successful applicants to undertake mineral exploration.

Since 2018, 114 projects have been approved from 33 different companies.

Tasmania Business, Industry and Resources Minister Eric Abetz says mineral exploration is integral jobs, economic activity and building a renewable energy future.

“What we have seen in recent years is a shift to find the minerals needed to build future economies,” he said.

“In this round alone, three of five approved projects are looking for critical and battery minerals such as the rare earth elements and tin.

“These metals are essential as the globe transitions to a future with greater use of renewable energy, and industry knows this is where there will be significant demand and value well into the future.”

All drill core and samples from this round will be stored at the Mineral Resources Tasmania Core Library in Mornington and will be available for public viewing and sampling.

Companies who received funding under this latest round include Flynn Gold (ASX: FG1), Georgina Resources, ABx and Bluestone Mines Tasmania.

All of these companies are targeting category one (metallic) minerals.