24th August 2016

The Division of Resources and Energy (DRE) Geological Survey unit has finalised the fifteen preferred applicants for the State’s New Frontiers Cooperative Drilling Program, which provides grants to mineral exploration companies that use innovative technologies to search for mineral deposits in untapped areas of NSW.

This round marks the second phase of Cooperative Drilling, following an initial round that ran from 2015 until earlier this year. The Program is a $2 million co-funded Government initiative that provides up to 100 per cent of per metre drilling costs, capped at $200,000 for individual projects.

Successful mineral exploration is critical to the long term economic future of NSW. Resource royalties help fund services such as hospitals, schools and roads.

Mining is vital to the NSW economy with the industry employing around 33,000 people directly and around 132,000 people indirectly through mine and non-mine related services.

Successful drilling programs must be completed and the results, drill samples and reports sent back to DRE before payment.

MAP: Preferred Applicants for Cooperative Drilling round 2 [PDF 4 MB PDF]