TARGET Minerals Exploration Initiative
TARGET is a Victorian Government initiative designed to increase investment in exploration for copper, other base metals and gold in Victoria. It excludes exploration for coal, oil and gas.
TARGET includes grants for companies to conduct co-funded minerals exploration programs.
Round 2 applications are now closed
The department invited proposals from existing licence holders in the northern part of the Bendigo geological province. The invitation for proposals closed on 10 January 2017.
Round 2 eligibility
To be eligible to apply for TARGET Round 2 grant funding, a company must:
- Hold a valid licence issued under the Mineral Resources (Sustainable Development) Act 1990 (MRSDA) in the northern part of the Bendigo geological province (see map below).
- Be fully compliant with its licence requirements and have no outstanding compliance and enforcement notices, directions or prosecutions relating to minerals issued on any licence within Victoria held by the company or a wholly owned subsidiary, or
- If this condition is not met, as part of its TARGET grant application:
- disclose and provide details of any outstanding compliance and enforcement notices, directions or prosecutions relating to the above, and
- provide any rectification plans or commitments
- Propose to explore for base metals, and/or gold.
Click on the map to view a larger version
Round 2 applications closed at 5pm Tuesday 10 January 2017.
Applications are now being assessed in accordance with the TARGET (Round 2) Guidelines.
Round 2 timetable
|Round 2 applications open||Monday 14 November 2016|
|Round 2 applications close||Tuesday 10 January 2017|
|Assessment of proposals complete||March 2017|
- Round 2 TARGET Guidelines TARGET Guidelines Round 2 (DOCX 4873.17 KB)
- Round 2 TARGET Project Proposal form FINAL TARGET Application Form (DOCX 4858.07 KB)
- Round 2 Frequently Asked Questions TARGET Q&A Round 2 (DOCX 4846.05 KB)
- Template Grant AgreementTARGET Minerals Exploration Initiative Template Grant Agreement Round 2 (DOCX 94.8 KB)
Successful TARGET Round 1 funding recipients
In an economic and geoscience boost to Victoria, 10 projects will share in over $2 million in grants to explore for copper, other base metals and gold in the state's west - (map below).
The grant funding is provided on an industry-matched basis to mineral exploration companies for the 10 exploration projects approved under the first round of the TARGET program.
TARGET grants will cover up to half the cost of eligible exploration activities, including geophysical surveys, drilling and sampling analysis, with the companies funding the balance by their own means.
The 6 successful grant recipients are all existing licence holders whose co-funded projects will further enhance the understanding of potential mineral deposits in western Victoria, in and around the Stavely geological province.
This investment will generate jobs, economic and other flow on benefits to the regions in western Victoria.
A collaborative geological research program by the Geological Survey of Victoria and Geoscience Australia has identified this region as having potential for copper, other base metals and gold mineralisation.
These grants will spur on the search for copper, other base metals and gold in this important part of Victoria.
The successful projects funded under the TARGET Minerals Exploration Initiative (Round 1) are:
Company (Licence Number)
TARGET grant allocated
|Austpac Resources (EL5291)||$53,300|
|GBM Resources (EL5423)||$184,950|
|Murray Basin Resources (EL5484)||$74,360|
|Navarre Minerals (EL5476)||$626,150|
|Stavely Minerals (EL3019/EL5403)||$273,560|
|Stavely Minerals (EL4556)||$539,682|
|Stavely Minerals (EL4758)||$69,870|
|Stavely Minerals (EL5470)||$51,420|
|Stavely Minerals (EL5478)||$117,410|
|Stawell Gold Mines (EL3008)||$196,000|
Read the Media release: Exploration Grants on TARGET in Western Victoria
Map of locations of projects funded under TARGET Round 1
For further information, please contact:
Project Manager, TARGET Minerals Exploration Initiative
Phone: +61 3 9452 8961
Details of any future funding rounds will be provided on this website.