THE NORTHERN Territory Government has awarded $750 000 to 12 drilling programs and $109 650 to 2 geophysics programs in under explored regions of the Territory.
The Minister for Resources, Kon Vatskalis, says the program forms part of the Government’s four year $14.4 million Bringing Forward Discovery initiative.
Vatskalis says that mineral and exploration are key economic drivers for the Territory which is why we are working very hard to encourage exploration and drilling companies to spend their money here.
Under the Geophysics and Drilling Collaboration program the Government provides 50% of costs - up to $100 000 - to assist companies with the costs of exploration geophysics or drilling in remote areas.
Information gained under the program will be made public three months after completion, becoming part of the significant free data-base available to explorers through the Northern Territory Geological Service.
Vatskalis says the 14 successful projects are located throughout the Territory, including the Barkly, VRD, and Central Australia.
The successful drilling companies were Crosslands Uranium Mines, Bondi Mining, Territory Uranium, AusQuest, TNG, North Australian Diamonds, Southern Uranium, Westgold Resources, Sipa Exploration, Silex Exploration Australia and Anglo Australian Resources.
Funding for geophysical surveys was granted to Quasar Resources and Anglo Australian Resources.
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