Western Australia to Fund 77 Mining Projects Through Exploration Grants

Western Australia’s Exploration Incentive Scheme (EIS) has announced another round of successful applicants.

In an April 23 statement, Mines and Petroleum Minister David Michael said 77 projects will benefit from total funding of AU$11.2 million. The projects are divided into three EIS programs: Round 31 of the Co-funded Drilling Program (CDP), Series 8 of the Energy Analysis Program (EAP) and Venture 2 of the Co-funded Geophysics Program (CGP).

A total of AU$7.8 million will be awarded as drill funding to 49 projects, while AU$3.2 million will be spread across 25 geophysics ventures. The remaining AU$200,000 will be divided between three projects under the EAP.

"The EIS plays a pivotal role in overcoming the financial barriers that often prevent early-stage projects from reaching their full potential, and we are committed to ensuring these opportunities prosper,” Michael said.

Among the 49 drill funding recipients are Wildcat Resources’ (ASX:WC8,OTC Pink:WDCTF) Tabba Tabba project and Western Mines Group’s (ASX:WMG) Mulga Tank, which are targeting critical minerals such as lithium, nickel and copper.

According to the government, approximately half of the drill funding recipients are targeting critical minerals, while 75 percent of CGP ventures are focused on uncovering new deposits.

Major diversified miner BHP's (ASX:BHP,NYSE:BHP,LSE:BHP) West Musgrave project, which is part of its Western Australia Nickel division, is among the latest recipients of CGP funding.

The project has been suspended since October 2024, and the new funding is expected to help advance development.

The EIS has assisted in advancing various projects over the years. Recently, Ora Banda Mining (ASX:OBM,OTC Pink:ESGFF) from Round 29 of the CDP identified high-grade gold mineralisation at its Little Gem discovery.

This round’s number of CDP recipients falls only one company short of the 50 successful applicants in Round 30, which was dedicated to projects drilling between December 2024 and November 2025. Round 32 of the CDP will open on August 4, 2025, while submissions for Series 9 of the EAP and Venture 3 of the CGP will have to wait until February 2026.

"I encourage all eligible companies to take advantage of the EIS and continue their valuable work in researching, exploring, and developing the minerals that are shaping our future," said Michael.

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