Announcement – Strategic Metals Australia Pty Ltd awarded a Queensland Government Grant for New Economy minerals exploration in North Qld.
The Queensland Government announced in January 2020 a new round of Collaborative Exploration Initiative grants for New Economy and critical minerals development in North Queensland. This round had a very tight timetable and was highly competitive. Companies needed to demonstrate that their “activities will increase the knowledge and prospectivity of New Economy or Critical Minerals in Northern Queensland, accelerate discoveries and potentially lead to the definition of a new generation of mineral resources”.
Strategic Metals Australia Pty Ltd (“SMA”) submitted a comprehensive application titled: Confirmation of the Economic Potential of a recently discovered “new style” of lithium mineralisation, Georgetown, North Qld.
SMA was awarded a grant of $98,000 to drill two stratigraphic diamond core holes to confirm the economic potential of the “new style” lithium mineralisation at the Buchanan’s Creek prospect. A spokesperson for the Geological Survey Qld noted that SMA’s application was “highly ranked”.
The awards were made public by the Qld Government on Wednesday 26th February: Almost $1 million has been awarded to explorers in a funding round focused on ‘new economy minerals’ in North and North West Queensland.
Mines Minister Dr Anthony Lynham said a record number of exploration companies had taken up the State Government’s call to hunt for the minerals needed for advanced electronics and renewable technologies.
“From an unprecedented 61 bids, seven projects have been awarded $965,000 to help open up the untapped minerals bounty around Mount Isa, Cloncurry, Julia Creek, and Georgetown,” he said.
“Exploration is the essential first step for any mining endeavour, and our investment has encouraged industry to search for cobalt and rare earth minerals needed for wind turbines, generators and batteries.” Almost $1 million has been awarded to explorers in a funding round focused on ‘new economy minerals’ in North and North West Queensland.
SMA Mining has been awarded $98,000 to drill to confirm if there is enough lithium mineralisation in the Georgetown district to suggest a mine could be economically viable.
Further information on the DNRM CEI Grant can be obtained online at: