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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.

Successful TARGET Round 1 funding recipients

In an economic and geoscience boost to Victoria, nine projects will share in almost $2 million in grants to explore for copper, other base metals and gold in the state's west - the Round 1 TARGET Area (map below).

The grant funding is provided on an industry-matched basis to mineral exploration companies for the nine 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 five 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
Total $1,990,702

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

Map of TARGET Round 1 area

This is a map of Victoria showing the project area for the TARGET Minerals Exploration Initiative Round 1. The 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.

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 9092 1849
Email: target@ecodev.vic.gov.au

Future Rounds

Details of any future funding rounds will be updated on this website as these are developed. Companies who have previously registered their interest in TARGET will be notified at that time.

Companies can continue to register their interest in TARGET exploration grants, by contacting the Project Manager, TARGET Minerals Exploration Initiative at target@ecodev.vic.gov.au