A new government initiative in NSW has been launched to provide exploration companies with grants to fast track their drilling programs, the New Frontiers Cooperative Drilling program. The NSW Government will oversee the investment of up to $2 million in drilling, from the New Frontiers program to encourage exploration, which will support the long-term sustainability of the State’s resources sector.

The NSW government is calling for submissions for drilling programs which demonstrate advanced prospectivity, sound financial planning and a proven technical base.

The New Frontiers Cooperative Drilling program will fund up to 50% of direct drilling costs for individual projects, with a cap of $200,000, within a total government allocation of $2 million in the 2013-14 financial year.

Click Here for more information