Longreach Mineral Exploration (Longreach) has become a successful recipient in Round 4 of the Queensland Government Collaborative Exploration Initiative (CEI) grants.
As part of the economic recovery measures, the CEI encourages innovative exploration to help explorers discover new economy minerals that are of high demand in the renewable and technology sectors.
A total of 25 projects have been awarded up to $200,000 each to support innovative exploration to help discover new economy minerals.
Longreach plans to use the grant for its Fletchers Awl project (EPM 27423) which is located in Central Queensland.
Longreach believes this area has been underexplored and that the permit area has significant potential for copper and gold mineralisation.
Longreach will acquire a high resolution airborne magnetic and radiometric survey to generate a 3D geological model of the area.
The work will include delineation of major geological and fault systems through advanced processing of the geophysical data and machine learning to generate geological unit extents.
This will enable a better understanding of the potential subsurface mineralisation intrusive and structural history of the area which are key components in exploration and targeting mineralisation.
Longrech director Jan Ostby said the company was delighted to be one of the 24 companies to be awarded the grant.
“The new geophysical data and 3D geological model will significantly add to the understanding of the mineralisation model, generate specific exploration targets, reduce risk in ongoing exploration, and accelerate exploration,” he said.
“We look forward to strengthening our exploration position and supporting future jobs in Queensland’s resource sector by continuing to work with the Department of Natural Resources, Mines and Energy.”
Established in 2005, Longreach Capital Investment has earned a strong reputation in the global petroleum industry through the success of its numerous subsidiaries focused on oil and gas exploration, seismic services, and machine learning technologies.
Longreach Mineral Exploration focuses on copper-gold exploration in Australia.
The company has tenements and applications for mineral exploration permits in the Curnamona Province (NSW and SA), Qld and WA.
Longreach’s strategy is to utilise its experience of superior geophysical imaging of the sub surface in the oil and gas sector and apply this to mineral exploration for identifying deeper targets.
