Western Australia Introduces Latest Round of Exploration Incentive Scheme

The Cook Government has officially welcomed applications for Round 32 of the Exploration Incentive Scheme (EIS).

In a Monday (August 4) announcement, Mines and Petroleum Minister David Michael said that EIS continues to support innovative exploration across Western Australia.

“By working closely with (the) industry and regional communities, we're accelerating mineral discoveries, supporting local expertise, and creating jobs to ensure WA remains a reliable and trusted global partner,” Michael commented.

He added that the Geological Survey of Western Australia plays a central role in supporting exploration across the state, not only as a co-ordinator of the EIS but also by providing the high-quality geoscience needed to reduce risk and encourage investment.

Tracing back to 2009, EIS is focused on “the long-term sustainability of the State’s resources sector and the demand for critical minerals on the transition to a net-zero energy system.”

The scheme hosts co-funded programs for drilling, geophysics and energy analysis. These programs provide financial support for innovative exploration drilling, greenfields geophysical surveys and energy systems projects.

Last October 2024, the government announced that 50 successful applicants were assisted through Round 30. This included the likes of Constellation Resources (ASX:CR1) and its Fraser Range copper-nickel project, and Mineral Resources (ASX:MIN,OTC:MALRF)and its West Pioneer Dome asset.

Kula Gold (ASX:KGD), who reported a significant gold intercept from the first hole at its Mustang prospect in April, also formed part of Round 30.

Round 31 applications opened in February 2025, while successful applicants were revealed in April.

Forming Round 31’s roster are Wildcat Resources (ASX: WC8, OTC:WDCTF) for its Tabba Tabba lithium project, Torque Metals (ASX:TOR, OTC:TRQMF) for its Paris gold project, and RareX for its Khaleesi REE project.

Tabba Tabba said on July 29 that its pre-feasibility study confirms potential for a long-life lithium mine in Pilbara, while diamond drilling has commenced at Torque’s Paris gold project as of July 28.

The deadline for submissions for Round 32 is August 29. As in previous rounds, an average of 50 companies and their projects are set to be supported by the program.

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Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.