Ausgold receives grant from Exploration Incentive Scheme

By Dale Benton
An Australian gold company has become the latest exploration company to benefit from a government grant designed to significantly boost the Australian r...

An Australian gold company has become the latest exploration company to benefit from a government grant designed to significantly boost the Australian resources sector.

Ausgold has announced that it will receive $150,000 through a grant from the Western Australian Government, as part of the countrywide Exploration Incentive Scheme (EIS).

The funds will be used to undertake a drilling programme later this year at the company’s Katanning Gold Project (KGP) in Southwest Yilgarn, Western Austraila.

The company’s application for the grant, which focused mainly on the company’s Datatine prospects and the Dingo-Likin trend within the KGP was successful as it was deemed to meet the criteria of the EIS’s Co-Funded Exploration in Drilling Program.

The program will provide up to 50% of the cost of innovative exploration drilling projects, with funding capped at $150,000.

Drilling is expected to take place in early October 2017.

Ausgold’s Chief Executive Officer, Matthew Greentree, said:

“As a Western Australian-focused explorer, we are pleased the State Government has continued to demonstrate its support for the EIS scheme, which will allow Ausgold to test geological concepts at our Katanning Gold Project.  

Related stories:

“The two prospects selected for the EIS drilling have coincident geophysical and geochemical anomalism combined with a favourable structural setting for gold mineralisation. We look forward to drilling them both as part of a larger drilling program to be undertaken later this year.”

The Exploration Incentive Scheme

EIS of a state government initiative designed to encourage exploration in Western Australia for the long-term sustainability of the resources sector.

The $130mn initiative is aimed to stimulate “increased private sector resource exploration, leading to new mineral and energy discoveries.”

It is made up of five high-level programs, one of which includes the “Innovative drilling promotion.”

The Co-Funded Exploration Drilling Program is a flagship program of the Exploration Incentive Scheme (EIS). It is a competitive program, open for applications twice a year, which offers up to a 50 per cent refund for innovative exploration drilling projects, capped at specific amounts.




Featured Articles

China increases copper import pace, following price plummet

In August, China reached a 26% rise - representing a 100,000+ tonne increase - in copper imports year-on-year, largely driven by product price drops

Ford criticises “inefficient” government mining permissions

In a letter to the US Department of the Interior, the car giant Ford has asked the American government to speed up its current mining permission process

Aggreko and Labyrinth Resources’ sustainable power project

Labyrinth Resources has been working with Aggreko to complete a virtual pipeline power project, which is designed to aid the sustainable energy transition

Despite regional ban, crypto miner Canaan doubles profits

Digital Mining

The future of all-electric sustainable mining technologies


Anglo American first half earnings decline 28 percent

Supply Chain & Operations