The Northern Territory is expanding new exploration opportunities and continuing to drive investment and jobs, with a record $1.7m in grants under the latest Geophysics and Drilling Collaboration program.
A total of 18 projects from 15 companies have now been awarded.
For the first time since the Resourcing the Territory initiative was launched, projects have also been able to access co-funding to support brownfields drilling programs.
In brownfield exploration, geologists look for further deposits near a known mineral deposit or already operating mine. As these areas are known to have high potential for minerals and associated infrastructure, the risk in brownfield exploration is considerably lower.
One of the companies awarded co-funding is Vista Gold Australia, which owns the Mount Todd mine – 55km northwest of Katherine – that was recently given the green light to recommence mining operations.
The projects that have been awarded funding are targeting a wide range of commodities, including gold, copper, tungsten, nickel, natural gas and helium.
