Gold exploration licenses granted in Victoria’s northwest

ANOTHER gold rush may arrive in Victoria after the State Government granted new exploration licenses in the state’s northwest

Could Victoria experience another gold rush?

VICTORIA could be set for another mini gold rush with the Government granting new exploration licences in the state’s northwest.

Nine projects have been ticked off by the Victorian Government to search for new copper, gold and other base metals deposits.

The move will see five companies granted $2 million to carry out geophysical surveys, drilling and sampling analysis to see if they can find new mineral deposits.

The winning companies include Navarre Minerals, Stavely Minerals, GBM Resources, Murray Basin Resources and Austpac Resources, who will investigate stretches from Mildura in the north to Mortlake in the south.

Minister for Resources Wade Noonan launched the grants under the $15 million TARGET Minerals Exploration Initiative.

“We have a rich history of mining in Victoria and this program will help determine what minerals really lie beneath the surface so we can further capitalise on our natural resources,’’ he said.

“Now is the time to boost exploration for future mineral discoveries so we can encourage mining and exploration companies to come and invest in Victoria.”

“This program could generate more than 50 new jobs and $20 million investment in the region, with any discovery and subsequent mining creating even more jobs and investment.”