Western Australia’s long-running Exploration Incentive Scheme (EIS) is set to inject fresh momentum into the search for new mineral deposits, with the Cook government awarding A$6.6-million in co-funding grants for 39 projects under Round 32 of the programme.

Mines and Petroleum Minister David Michael on Thursday confirmed the successful applicants, with projects to be drilled before November 2026.

Gold dominated the latest round, accounting for 64% of successful applications, either as a standalone target or in combination with other minerals.

Michael said the EIS continued to play a pivotal role in driving early-stage discoveries and sustaining Western Australia’s leadership in resources exploration.

“The Cook government is committed to positioning WA as a global supplier of critical and strategic minerals, with the strong interest in the EIS reflecting growing momentum across the sector to support the world’s clean energy future,” he said.

“The EIS continues to drive early-stage discoveries, opening the door to new mines, regional jobs and long-term economic growth.

“By reducing the financial risks of exploration, the EIS is helping to unlock the next generation of mineral projects that will power the world and deliver benefits for generations of Western Australians.”

The scheme, which shares the financial risk of early-stage exploration, has already delivered notable results. Lord Resources intersected primary copper mineralisation at its Ilgarari project under Round 31, while Redstone Resources recovered a 10-m zone of continuous copper mineralisation from a co-funded drillhole at its Chatsworth prospect, part of its West Musgrave project under Round 29.

Meanwhile, early success from the inaugural Co-funded Geophysics Program (Venture 1) has also emerged, with Sipa Resources reporting enhanced prospectivity at its Barbwire Terrace lead/zinc/silver project following a co-funded gravity survey.

Applications for the next rounds – co-funded drilling round 33, co-funded geophysics venture 3, and co-funded energy analysis series 9 – will open on February 2, 2026.