Applications are open for the latest round of collaborative grants for exploration drilling and geophysics in the Northern Territory, an initiative helping create jobs and provide economic benefits.

The Geophysics and Drilling Collaborations program provides collaborative funding of 50 per cent for up to $125,000 per project of the total costs for drilling and geophysical programs by industry. The projects must be in areas of the NT where there is a lack of geological information.

The collaborative grants program is part of the Northern Territory Government’s $26 million Resourcing the Territory initiative, which includes geoscience and industry stimulus programs to maximise resources exploration in the NT.

With an aim to address gaps in the critical understanding of the geology of the NT, the collaborative grants program will encourage projects that may open up new areas for exploration and ensure the data is made available to the wider exploration community.

Now up to its 12th round of collaborative grants, 2018 saw a record number of applicants received for the program, with 15 projects from 12 different companies potentially receiving more than $1 million in funding.

The Geophysics and Drilling Collaboration project funding is for programs to be undertaken during 2019, and applications will close on 15 April 2019. Guidelines and assessment criteria can be found here.