WA Government funds to unlock new exploration opportunities
The WA Government has announced that it is allocating $11.2m in funding to the successful applicants of its 31st round of the Exploration Incentive Scheme (EIS).
The EIS aims to encourage exploration for the long-term sustainability of the resource sector by helping overcome the financial barriers that early-stage projects often face.
The latest round of funding will support 77 projects across WA, 49 projects of which will receive a total of $7.8m to support drilling programs.
There are also 25 geophysics ventures that will receive $3.2m and three energy analysis program (EAP) projects that will receive a total of $200,000.
Approximately half of successful applicants that are receiving funding for drilling projects that target critical minerals and 75% of geophysics ventures are focused on uncovering new deposits.
Ora Banda Mining (ASX: OBM) is a recent success story that attests to the benefits of the scheme. The company received funding from the scheme in a previous round and was able to identify high-grade gold mineralization at its Little Gem discovery as a result.
Mines and Petroleum Minister David Michael announced the successful applicants of this round saying that the EIS is helping shape a future where the benefits of WA’s mineral wealth will last for generations.
“The EIS plays a pivotal role in overcoming the financial barriers that often prevent early-stage projects from reaching their full potential, and we are committed to ensuring these opportunities prosper,” he said.
“I encourage all eligible companies to take advantage of the EIS and continue their valuable work in researching, exploring and developing the minerals that are shaping our future.”
The co-funded drilling program will open for the next round of applicants in August of this year. Applications for the next series of the EAP and the co-funded geophysics program will open in February of 2026.