Applications open for EIS drilling program and EPA

Applications have opened for round 28 of the Exploration Incentive Scheme’s (EIS) flagship co-funded drilling program and series 6 of the Energy Analysis Program (EAP).

This application round follows the state budget 2023-2024 funding increase of $1m per year. A total of $7m is now available across the two application rounds each year.

Launched in 2009, the EIS program supports innovative exploration in greenfields and underexplored areas of WA.

The EAP program encourages exploration of petroleum and geothermal resources using existing state resources, including drill core, sidewall core, cuttings and existing data.

WA Mines and Petroleum Minister Bill Johnston commented on the funding programs.

“Mineral exploration is one of WA’s most important sectors, which is why the Cook Government will continue to support companies with the backing they deserve,” he said.

“It’s especially pleasing to see successful EIS applicants uncover the critical minerals needed to support our national and global decarbonisation efforts.”

In 2021, Caspin Resources (ASX:CPN) received EIS funding to undertake exploration at its Mount Squires project with work finding a significant molybdenum-lead copper-gold geochemical anomaly.

The company received further funding earlier this year to continue exploration at Mount Squires, including the Duchess East prospect where earlier work uncovered near-surface rare earth element mineralisation.

Norwest Minerals (ASX:NWM) has also benefitted from the EIS funding, completing a maiden 20-hole drilling program at its Arunta West project where it found significant shallow rare earth element mineralisation.

Applications for both programs close on September 1, 2023.