Accelerated Discovery Initiative – May 2021

On 19th May WTR Group was advised by the Department of Energy and Mining that two of its proposals had been successful in gaining Government funding – up to a total of $367,500.

  1. Red Tiger Resources Limited project proposal for the Mulgathing Project, ID ADI:RD02/ 257-GP was successful in securing funding to the level of $ $175,000
  2. Tigers Dominion Group Pty Ltd project proposal for the Mount Brady Project, ID ADI:RD02/ 293-ED was successful in securing funding to the level of $192,500

This funding is provided through the ADI program, which forms part of the South Australian Government’s Growth State Agenda, with the aim to accelerate mineral discovery through innovative exploration and research projects in regional and frontier terrains throughout South Australia.

The proposals were assessed and ranked against the merit criteria listed in the ADI Investment Guidelines by an independent expert review panel. Each proposal was scored on its ability to meet as many of the eligibility criteria as possible.

South Australian Government Minister for Energy and Mining announced the awards on 20 May 2021:

“The resources sector underpins South Australia’s economy and the latest round of the Accelerated Discovery Initiative (ADI) funding is designed to position our state as a leading supplier of the critical minerals of the economy of the future.

Copper is a central component of the development of the renewable technology that is sweeping the world, driving the electric vehicle revolution and South Australia’s world-leading home battery uptake.

Funded through the Economic Business Growth Fund (EBGF), the ADI supports innovative technologies, collaboration and new exploration ideas to fast-track responsible mineral exploration activities across our state.

Announcing the 22 successful recipients today, the Minister for Energy and Mining said the ADI continues to play an important role in maintaining South Australia as an internationally-recognised leader in mineral exploration development.

It is Australia’s most diverse exploration co-funding program, with the inclusion of geophysics as well as drilling and other exploration techniques, frontier logistics support, technology and research innovation, and Aboriginal employment.” Ends.