WA Government to help fund 44 drilling projects
December 7, 2017NewsBen Creagh Australian Mining
The Western Australian Government has announced that 44 projects will benefit from the latest round of its Exploration Incentive Scheme (EIS) co-funded drilling program.
Covering several regions of the state, the round 16 applicants include lithium, gold, copper, base metals, potash, petroleum and nickel projects and will share $4.83 million in grants.
The drilling will take place throughout 2018, with the WA Government to refund up to 50 per cent of direct drilling costs – with caps of $150,000 for a multi-hole project, $200,000 for a single deep hole, and $30,000 for a prospector’s project.
WA Mines Minister Bill Johnston said he was encouraged by the diversity of minerals that were successful in the latest EIS round.
“The EIS supports jobs in our state and it gives an extra incentive for resources companies to drill in under explored areas and find new projects that are vital to our economy,” Johnston said.
“I look forward to seeing what exciting discoveries eventuate from the co-funded round 16 projects.”
The government will launch the application process for round 17 in February next year.
EUR could be able to capitalize on the 25 million shares of CVS for the future build out of Mining Facilities and the additional cash payments and CVS may be able to profit from EUR management skills in attracting new investors. Just my opinion of course.
