WA opens new exploration funding round

The WA Government has opened applications for Round 32 of the Exploration Incentive Scheme (EIS), which continues to support innovative exploration across the state.

By co-funding exploration drilling, geophysics and energy analysis, the EIS aims to help companies take on high-risk, high-reward projects in underexplored and remote regions.

WA Mines and Petroleum Minister David Michael says the WA Government is driving mineral exploration across WA to secure the state’s future as a global leader in mining — particularly in the critical minerals essential to the clean energy transition.

“By working closely with industry and regional communities, we’re accelerating mineral discoveries, supporting local expertise and creating jobs to ensure WA remains a reliable and trusted global partner,” he said.

“The Geological Survey of WA plays a central role in supporting exploration across the state — co-ordinating the EIS and providing the high-quality geoscience needed to reduce risk and encourage investment.”

Recent projects backed by EIS funding have delivered promising results across the state.

At the Dante project in the eastern Goldfields-Esperance region, Terra Metals’ (ASX: TM1) early testing has returned high-grade vanadium-magnetite concentrate.

EIS co-funding in the early stages of exploration helped the company progress this project through to metallurgical testing.

Future Metals (ASX: FME) also benefited from Round 29, with maiden drilling at its Eileen Bore site in the Kimberley confirming copper, nickel and platinum group element mineralisation.

Subsequent assays have further supported development of a bulk copper feed source that may be processed at Zeta Resources nearby Savannah plant.

In WA’s South West, Kula Gold (ASX: KGD) reported encouraging early assay results from Round 30 drilling, including a significant gold intercept from the first hole at its Mustang prospect.