EXPLORATION

Tas govt hands out drilling cash

THE Tasmanian government has announced the recipients of its Exploration Drilling Grant Initiative.

Tas govt hands out drilling cash

The scheme supports miners in identifying greenfield resources as well as those conducting brownfield exploration.

To date, the EDGI has supported nearly 60 drill campaigns.

"The six projects announced under Round 6 will share in more than $270,000 in funding and result in nearly 5km of exploration drilling," minister for resources Guy Barnett said.

The recipients include Yunnan Tin, Stunalara Metals, Henty Gold, and Abx Group. 

All but one of the companies will use the funds for greenfield exploration.

"By opening the program to existing sites we are providing the opportunity to recover even more valuable minerals like gold, copper, zinc, tin, or iron from already developed sites, which would have reasonably modest restart costs and lead-in time if the exploration results prove positive," Barnett said.

ABx Group will use the cash for its Deep Leads rare earths project where it has already had successful drill hits.

Yunnan Tin is similarly hunting for rare earths, lithium, and tin.

Stunalara Metals will focus on copper and gold opportunities, as will Henty.

Mining accounts for 64% of all exports from Tasmania, worth more than $2.7 billion a year, according to state government figures.

The EDGI scheme is expected to drive a 60% increase in greenfield drilling.

The grant program is estimated to generate $3.40 into the economy for every $1 dollar invested by the government.

A seventh round of EDGI project proposal applications is expected to be called in early 2022.

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