Longreach Mineral Exploration has recently announced that it has become a successful recipient in the Round 4 of the Queensland Government Collaborative Exploration Initiative (CEI) grants.
As part of the economic recovery measures, the CEI encourages innovative exploration to help explorers discover new economy minerals that are of high demand in the renewable and technology sectors. A total of 25 projects have been awarded up to AUS$200 000 each to support innovative exploration to help discover new economy minerals.
Longreach plans to use the grant for its Fletchers Awl project, which is located in the Central Queensland, Australia. Longreach believes this area has been underexplored and that the permit area has significant potential for copper and gold mineralisation.
The company will acquire a high resolution airborne magnetic and radiometric survey to generate a 3D geological model of the area. The work will include delineation of major geological and fault systems through advanced processing of the geophysical data and machine learning to generate geological unit extents. This will enable a better understanding of the potential subsurface mineralisation intrusive and structural history of the area which are key components in exploration and targeting mineralisation.
Jan Ostby, Director of Longreach, said, “We are delighted to be one of the 24 companies to be awarded this grant. The new geophysical data and 3D geological model will significantly add to the understanding of the mineralisation model, generate specific exploration targets, reduce risk in ongoing exploration, and accelerate exploration.”
“We look forward to strengthening our exploration position and supporting future jobs in Queensland’s resource sector by continuing to work with the Department of Natural Resources, Mines and Energy,” Ostby added.
Read the article online at: https://www.globalminingreview.com/exploration-development/31072020/longreach-mineral-exploration-receives-cei-grant-from-queensland-state-government/