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Explorers can receive a refund of up to 50% for innovative drilling projects, with new capped values of A$180,000 for a multi-hole project (previously $150,000), $220,000 for one or two deep hole(s) (previously $200,000) and $40,000 for prospectors (previously $30,000).
WA mines and petroleum minister Bill Johnston said the EIS had facilitated some great finds in WA.
"Most recently, Maximus Resources successfully completed drill holes demonstrating a strong potential for high-grade gold mineralisation and Karora Resources encountered significant nickel intersections, thanks to the EIS," he said.
"WA competes with several other jurisdictions to attract exploration investment so we will continue to support programs that provide the state with competitive advantages in this area."
Association of Mining and Exploration Companies CEO Warren Pearce said greenfield mineral exploration drove the success of WA's mining industry, with discoveries delivering long-term jobs to help keep the country afloat during the pandemic.
"On the back of promising discoveries and government incentives, interest in WA's abundant mineral prospects is still strong, reflected in the continued popularity of programs like the EIS," he said.
"It helps exploration companies leverage matching private funding to undertake innovative greenfield exploration drilling, with capped values for drilling increased this round as government acknowledge the increase in costs associated with exploration, in particular the labour and skills shortages impacting the industry."
Pearce said the initiative gave investors an element of confidence needed to invest.
"As WA faces challenges including labour costs and skills shortages, continuing this support will help to find new discoveries and add more projects to the development pipeline," he said.
