- Round 32 of EIS awards $6.6 million for drilling over the next 12 months
- EIS-backed discoveries continue to drive new opportunities across regional WA
Mines and Petroleum Minister David Michael today confirmed the successful applicants for Round 32 of the State’s long-running and highly successful Exploration Incentive Scheme (EIS) Co-funded Drilling Program.
Thirty-nine applicants will receive grants worth $6.6 million for projects to be drilled before November 2026.
This round has seen a strong focus on gold, with 64 per cent of successful applications targeting the precious metal either alone or in combination with other minerals. This trend reflects the sector’s continued interest, driven largely by record high prices.
The Exploration Incentive Scheme continues to deliver results, with Lord Resources reporting success under Round 31 at its Ilgarari Project, where two co-funded drillholes intersected primary copper mineralisation.
Copper exploration has also yielded promising results for Redstone Resources, which recovered a 10-metre zone of continuous copper mineralisation from a co-funded diamond drillhole at its Chatsworth prospect, part of its West Musgrave Project under Round 29.
Early success is also emerging from the inaugural round of the EIS Co-funded Geophysics Program (Venture 1), with Sipa Resources reporting enhanced prospectivity at its Barbwire Terrace lead-zinc-silver project following a co-funded ground gravity survey.
By sharing the financial risk of early-stage exploration, the EIS enables companies to pursue high-potential projects that may otherwise be considered too risky or cost-prohibitive.
Applications for Co-funded Drilling Round 33, Co-funded Geophysics Venture 3 and Co-funded Energy Analysis Series 9 programs will open Monday, 2 February 2026.
For more information on the EIS and this round’s successful applicants visit: Co-funded Drilling Program.
Comments attributed to Mines and Petroleum Minister David Michael:
“The Cook Government is committed to positioning WA as a global supplier of critical and strategic minerals, with the strong interest in the Exploration Incentive Scheme reflecting growing momentum across the sector to support the world’s clean energy future. “The Exploration Incentive Scheme continues to drive early-stage discoveries, opening the door to new mines, regional jobs and long-term economic growth. “By reducing the financial risks of exploration, the EIS is helping to unlock the next generation of mineral projects that will power the world and deliver benefits for generations of Western Australians.”
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