THE state government has granted almost $2 million to nine prospective mining projects in western Victoria.
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The money was provided through the TARGET scheme that aims to encourage in mineral exploration to help generate investment and jobs in regional Victoria.
This round of grants covers nine projects across five separate mining companies operating around Horsham, Ararat, Mortlake, Nhill and Dimboola.
The grant recipients and projects under TARGET round one are:
- Stavely Minerals to receive $1 million for five projects south west of Ararat and near Mortlake
- Navarre Minerals to receive $626,000 for a project south of Ararat
- GBM Resources to receive $185,000 for a project south west of Ararat
- Murray Basin Resources to receive $74,000 for a project north east of Horsham
- Austpac Resources to receive $53,000 for a project near the towns of Nhill and Dimboola
Minister for Resources Wade Noonan said the grants were a boost to geoscience and the economy in western Victoria
“We have a rich history of mining in Victoria and this program will help determine what minerals really lie beneath the surface so we can further capitalise on our natural resources,” he said.
“Now is the time to boost exploration for future mineral discoveries so we can encourage mining and exploration companies to come and invest in Victoria.
“This program could generate more than 50 new jobs and $20 million investment in the region, with any discovery and subsequent mining creating even more jobs and investment.”
The projects are all in the Stavely geological province in western Victoria, which stretches from Mildura in the north to Mortlake in the south.
The grants will cover up to half the cost of eligible exploration activities, including geophysical surveys,
drilling and sampling analysis , with the companies funding the remaining balance.
The five successful grant recipients are all existing licence holders.
A Geological Survey of Victoria and Geoscience Australia research program has identified western Victoria’s potential for gold, copper and other base metals deposits.