The Bowen Basin, Queensland.
The Bowen Basin, Queensland.

Cash boost for explorers to hunt new CQ resource projects

FOUR explorers will receive a share in almost $400,000 to explore potential new resources projects in Glenden, Emerald and Longreach.

The companies will receive a grant to undertake Central Queensland projects in a joint initiative between government and industry, to help drive innovative ways to make new resource discoveries in the state.

Mt Coolon Gold Minesto was awarded $59,000 to conduct an extensive survey over a silver and gold prospective corridor adjacent to the Mt Coolon Gold mine inland from Mackay.

Ten Sixty Four has received $120,000 to help undertake deep drilling to look for gold deposits in its Monteagle Drilling Project northwest of Emerald.

The deposits, if proven, could tap into the well-established supply chain in the Bowen Basin.

Another $40,000 has gone to North X, which is working with CSIRO to conduct a mineral classification study of rare earth element mineralisation in the Peaks Range Volcanics, 75km north of Emerald.

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The study has potential to accelerate Queensland as a major rare earth producer.

Longreach No. 1 will also complete high resolution magnetic and radiometric surveys over a 400km2 area west of Longreach thanks to a $175,000 grant.

Mines Minister Anthony Lynham described all four projects as “genuine regional exploration projects bringing regional jobs”.

Mines Minister Anthony Lynham.
Mines Minister Anthony Lynham.

“The resources sector industry has fared better than others throughout the COVID-19 pandemic and these grants will help to future-proof regional economies as the state continues its economic road to recovery,” Dr Lynham said.

“Exploration is essential for Queensland to keep up with the soaring global demand for tech minerals and these grants are in place to put Queensland’s industry on the front foot.”

North X spokesman Stewart Parker said the land they were studying near Emerald had potential to supply rare earths needed for super magnets and renewable technologies.

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“This funding will enable the first steps towards developing the processing technology to extract these NEM metals from the host rocks,” Mr Parker said.

“Among others, the rhyolites in the southern Peak Ranges area are enriched in rare earth elements, zirconium, hafnium and niobium, all of which are critical metals crucial to green technology and renewable energy production.”