Spending by the pre-revenue exploration sector has surged to a fresh seven-year-high, but experts warn inflationary pressures in the resources sector are contributing to the sharp rise in spending.

Investors pumped a record amount of money into ASX-listed explorers for the fourth consecutive quarter. The $2.55 billion raised continues a golden era for the high-risk sector, which is growing rapidly on a mix of cheap money, high commodity prices and a strong pipeline of initial public offerings (IPOs).