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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 is now open

The Department invites proposals from existing licence holders in the northern part of the Bendigo geological province. The invitation for proposals closes 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).
  • Either:
    1. 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
    2. 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
    (See Page 4 of the Round 2 TARGET Guidelines for more information on Round 2 eligibility requirements relating to compliance.)
  • Propose to explore for base metals, and/or gold.

Click on the map to view a larger version

This is a map of Victoria showing the project area for the TARGET Minerals Exploration Initiative Round 2. The project area is known as the northern Bendigo geological province and is considered prospective for gold. The province is located in northern Victoria and is shown in orange on the map. It extends from north of Bendigo to the New South Wales border, east to just past Echuca and west to about 50km northwest of Swan Hill. The colours on the map represent lithological units. The dashed lines indicate geological fairways as identified by the Geological Survey of Victoria. The brown line represents the geological basin boundary. The inset map shows the location of the Round 2 project area alongside the Round 1 Project area which is shown in red. The Round 1 project area is known as the Stavely geological province and is considered prospective for base metals and gold. The province is located in western Victoria and is shown in red on the map. It extends from north west Victoria, bordering New South Wales and South Australia, south to the southernmost extent of the province located to the east of Hamilton and about 35km north of Warrnambool on the Victorian coast.  

How to apply

The Round 2 TARGET GuidelinesTARGET Guidelines Round 2 (DOCX 4873.17 KB)DOCX icon contains information about the application process and should be read by applicants prior to applying.

  1. Download Round 2 TARGET  Project Proposal formFINAL TARGET Application Form (DOCX 4858.07 KB)DOCX icon
  2. Fill in the required information in the Proposal form
  3. Email the completed form to: target@ecodev.vic.gov.au prior to 5pm AEDT Tuesday 10 January 2017.
  4. Any queries:

Round 2 applications are now open and will close at 5pm Tuesday 10 January 2017.

Round 2 timetable

StatusDate
Round 2 applications openMonday 14 November 2016
Round 2 applications closeTuesday 10 January 2017
Assessment of proposals completeMarch 2017

More information

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
Total$2,186,702

Read the Media release: Exploration Grants on TARGET in Western Victoria

Map of locations of projects funded under TARGET Round 1

Target Minerals Exploration Initiative Succesful projects - round 1. See table for recipients 

Further details

For further information, please contact:
Project Manager, TARGET Minerals Exploration Initiative
Phone: +61 3 9452 8961
Email: target@ecodev.vic.gov.au

Future Rounds

Details of any future funding rounds will be provided on this website