The Northern Territory Government has officially opened its Geophysics and Drilling Collaborations (GDC) grant program.
Round 18 of the program will see up to $3 million provided to co-fund projects that address geoscientific knowledge gaps, advance exploration activity, and support the discovery and development of resources across the Territory.
“The NT Government is backing our resources sector because we know this is what will underpin our economy, creating opportunities for businesses and for local jobs across the Territory,” NT Minister for Mining and Energy Gerard Maley said.
“This investment in our exploration sector is instrumental for our economy, and with the potential for Territory’s critical minerals set to increase, a minimum of $2 million of this funding will be directed into projects targeting critical minerals.”
The NT Government has increased the capped amount of co-funding for regional-scale geophysics from $100,000 to $150,000.
Some recent co-funded drilling projects have contributed to the discovery of a new graphite resource at the Leliyn project and a new rare earths, vanadium and gallium resource in the Barkly.
The GDC program awards co-funding of up to 50 per cent of the cost of drilling, regional scale geophysical surveys, innovative exploration targeting and advancing critical minerals projects.
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