News release: Hon Tom Koutsantonis MP, Saturday 13 August 2016.
Around $3.5 million in grants have been awarded to 26 mineral exploration projects, predominantly in frontier areas in South Australia’s north, across a wide range of commodities.
The Plan for Accelerating Exploration (PACE) Discovery Drilling program provides direct funding for exploration projects within South Australia with results and data available to all explorers after the close of the program in mid-2017.
Through the program explorers can now access grants of up to $250,000 – up from $100,000 offered in previous rounds. It’s estimated that the grants will trigger a further $5.8 million on exploration expenditure across the State.
The PACE Discovery Drilling program is a key pillar of the State Government’s $20 million PACE Copper initiative, announced in November 2015.
PACE collaborative drilling funding was instrumental in the discovery of the Carrapateena copper-gold deposit north of Port Augusta, a $770 million project OZ Minerals is currently fast-tracking.
Carrapateena has the potential to make a large contribution toward the government’s Copper Strategy, which aims to increase copper production to 1 million tonnes per year within the next two decades and create up to 400 jobs in regional South Australia.
Quotes attributable to Mineral Resources and Energy Minister Tom Koutsantonis
This program offers the resources sector crucial funds at a time when there is limited global capital available for exploration programs.
The high calibre and variety of these projects clearly demonstrates the success of the PACE initiative in continuing to generate world-wide interest in South Australia’s prospectivity.
With such a wide spread of projects across the State, this program will create job opportunities for regional communities and enable proponents to engage the services of local suppliers.
I congratulate these 26 very deserving grant recipients and look forward to seeing what is uncovered through their prospecting.
This is a sector that has enormous potential to contribute more to our economy and by partnering with these explorers we can unlock future investment, discoveries and jobs for this State.
PACE Discovery Drilling 2016 - successful proposals
|Proposal||Proponent company||Project name||Region||Commodity|
|DPY9-05||Macallum Group Ltd||Mount Sarah||Gawler Craton||Iron Oxide, Copper-Gold (IOCG)|
|DPY9-10||Red Metal Limited||Callabonna||Curnamona Province||IOCG|
|DPY9-11||Gawler Resources Pty Ltd||Thurlga||Gawler Craton||Silver, Gold|
|DPY9-12||Teale & Associates Pty Ltd||Prospect Hill||Adelaide Geosyncline||Tin, Copper|
|DPY9-14||White Tiger Resources Limited||Arcoona||Gawler Craton||IOCG|
|DPY9-16||GBE Exploration Pty Ltd||Mt Denison||Gawler Craton||IOCG|
|DPY9-17||Iluka (Eucla Basin) Pty Ltd||Fowler Magmatic Sulphides||Gawler Craton||Nickel, Copper|
|DPY9-18||BHT Minerals Pty Ltd||Woodmurra||Gawler Craton||IOCG|
|DPY9-19||NiCul Minerals Limited||Central Plains||Musgrave Ranges||Nickel, Copper|
|DPY9-20||Sherlock Minerals Pty Ltd||Keilira||South East SA||Copper, Zinc|
|DPY9-21||Peninsula Resources Limited||Eyre Biogeochemical Anomaly||Gawler Craton||Gold|
|DPY9-23||Westernx Pty Ltd||Cootanoorina||Gawler Craton||IOCG|
|DPY9-24||Investigator Resources Limited||Nankivel||Gawler Craton||Copper, Gold|
|DPY9-25||Doray Minerals Ltd||Western Gawler||Gawler Craton||Gold|
|DPY9-27||Endeavour Copper Gold Pty Ltd||Lake Labyrinth||Gawler Craton||Gold|
|DPY9-28||Mingoola Gold Pty Ltd||Kallioota||Gawler Craton||IOCG|
|DPY9-30||Samphire Uranium Pty Ltd||Blue Well Dam||Gawler Craton||Iron sulfite, Copper- Gold (ISCG)|
|DPY9-31||Perilya Freehold Mining Pty Ltd||Red Range||Adelaide Geosyncline||Zinc|
|DPY9-35||Trafford Resources||Mawson Copper||Gawler Craton||Copper, Gold|
|DPY9-41||Minotaur Exploration Ltd||Groundwater Brines||Gawler Craton||Potassium, Lithium, Boron|
|DPY9-42||Minotaur Exploration Ltd||Mt Woods||Gawler Craton||ISCG|
|DPY9-43||SeeSaw Resources Pty Ltd||Brownlow||Adelaide Geosyncline||Copper, Gold|
|DPY9-44||Havilah Resources Limited||Benagerie Dome||Curnamona Province||Gold|
|DPY9-45||Terramin Exploration Pty Ltd||Brind||Adelaide Geosyncline||Gold|
|DPY9-46||Core Exploration Ltd||Yerelina||Adelaide Geosyncline||Copper, Gold, Lead, Zinc|
|DPY9-47||SeeSaw Resources Pty Ltd||Bower||Adelaide Geosyncline||Copper, Gold|