WA wants to help explorers make the next big discovery

Western Australia is keen to drive further exploration activity to ensure the resources sector is well positioned to assist in the state’s and Australia’s economic recovery.

In light of that, the world’s most appealing jurisdiction for mining and exploration investment, is investing $7m to expand the capacity of the Joe Lord Core Library in Kalgoorlie.

The library stores core samples that contain valuable geoscientific information for explorers and others seeking new petroleum and mineral discoveries.

Researchers and explorers can inspect the samples and review results to reduce the technical and financial risk of exploration activities.

However, the continued interest in the state government’s Exploration Incentive Scheme has resulted in the Kalgoorlie facility being close to capacity, with all of the current storage areas in use.

The expansion will provide better access, more space and improved facilities to view and analyse drill cores.

“The vast repository of information available at the Joe Lord Core Library can help industry find the next big discovery and potentially save mining companies millions of dollars,” Mines and Petroleum Minister Bill Johnston said.

“Measures to reduce exploration risk and attract investment will ensure resource exploration continues to prosper in Western Australia.”

Western Australia has also amended its mining regulations to allow explorers to apply for expenditure exemptions if they are able to demonstrate that the COVID-19 pandemic has affected their ability to meet those conditions.

It’s not just the West doling out the $$$

Other Australian states are also pumping the dollars into their resources industries, with South Australia awarding $2.9m worth of grants in June under its $10m Accelerated Discovery Initiative to push the boundaries of conventional exploration.

Winners of the first ADI round include DGO Gold (ASX:DGO), Havilah Resources (ASX:HAV), Argonaut Resources (ASX:ARE) and Andromeda Metals (ASX:ADN).

Likewise, Queensland has announced $10m in exploration grants to speed up the development of new mines to meet domestic and international demand for new economy minerals such as copper, nickel, cobalt, rare earths and vanadium.

The state will offer grants of up to $200,000 over four years.