A million dollar grant has been announced for the further exploration of Queensland’s North-West metal areas and South-West gas zones, following last month’s 11,000 km² land release for petroleum and gas exploration tenders. The focus for this grant is to improve investment opportunities in the mining and energy fields. Three projects near Cloncurry have been green lit for exploration, as well as one in the Surat Basin.
Cloncurry Area Projects
– $90,000 to develop better geochemical detection methods
– $400,000 to develop new geophysical tools, maps, and datasets to increase exploration success for copper and gold
– $345,000 for advanced computer simulation to predict value of new sites, which will then be validated by ground surveys.
Surat Basin Project
– $200,000 for subsurface geological data modelling and surface mapping to develop environmentally sustainable future projects.
The hope is that this investment will attract exploration investment back to Queensland, and aid the development of future projects in the sector.