17 Jun 2015
Minister for Mines and Energy
A partnership between resources companies and the Territory
Government is set to reveal more about the minerals wealth beneath our feet and
create the next wave of mining jobs.
Grants totalling $850,000 are to be paid to nine companies to carry out 10 minerals exploration projects across the Territory.
The geophysical survey and drilling projects will test news areas for gold, base metals, uranium, manganese, zinc and petroleum.
Mines and Energy Minister David Tollner said the whole Territory will benefit from unlocking its vast mineral wealth.
“Some sectors of the resources industry are facing challenges at the moment, but it’s still a major employer of Territorians and will be one of the long-term drivers of our future prosperity,” Mr Tollner said.
“These grants give companies an incentive to get out there and discover what resources the Territory can count on in the future.
“Exploration is crucial to develop the deposits that will underpin the Territory’s future economy.”
The companies receiving funding under round eight of the Geophysics and Drilling Collaboration program are Emmerson Resources, Cameco Australia, Areva Resources, Core Exploration, Rockland Resources, Pacifico Minerals, Teck Australia, MMG Exploration and Tom Oates.
The program provides funding of 50 per cent of the cost of drilling and geophysical programs in areas of the NT where there is a lack of geological information. Grants are capped at $100,000.
The program is part of the Territory Government’s Creating Opportunities for Resource Exploration (CORE) initiative and is managed by the Northern Territory Geological Survey (NTGS).
All data gained from the program is released to the public six months after the completion of field work to ensure the results are shared with all explorers to encourage further exploration.
The Northern Territory has some of Australia's largest deposits of zinc-lead, bauxite, gold, phosphate and manganese, as well as significant deposits of iron ore, rare earths, tungsten, mineral sands, potash, oil and gas.
More information is available in the Geophysics and Drilling Collaboration section of the Department of Mines and Energy website.
Media contact: Stuart Sherwin 0438 103005