Uncovering the Mineral Wealth of New South Wales - The Discovery 2000 Initiative

In July 1994 the Premier, John Fahey MP, announced that the New South Wales Government would make available a total of $40 million over six years in new funding for the Department of Mineral Resources. These funds are to be applied directly to the generation of regional geological and geophysical information. The Government's initiative known as `Discovery 2000', is aimed at providing a major boost to the exploration industry. The Government expects new discoveries to be made and new mines to be developed because of the initiative and, perhaps, the first ever commercial oil or gas production in New South Wales. The Government's return will come from increased economic activity, and from the increased royalty return from higher levels of production. Quality information is the key to successful exploration. In the highly competitive business of mineral and petroleum exploration high quality regional geological and geophysical information improve both the efficiency and effectiveness of the area selection or project generation process. Using the `needle in the hay stack' analogy, Discovery 2000 will vastly improve industry's chances of finding the haystacks. It is up to the mineral and petroleum industries to find their respective `needles'. Careful target area selection is probably the most critical factor in mineral exploration. The ability to select the most prospective areas, or to identify prospectivity that others have failed to recognise, can make all the difference between success and failure. Government geological surveys clearly have a crucial role to play in providing the geoscientific information infrastructure that companies must have if they are to make the discoveries this country needs to pay its way in the world. It is the regional information generated by Governments that sets the scene for efficient exploration. This regional information includes regional aeromagnetics and radiometrics and gravity, regional geological mapping and tectonic analysis, and geoscientific databases. The New South Wales Department of Mineral Resources (by various names) has been providing such information for over 100 years and has led the way in many aspects of the generation and dissemination of geological, geophysical and metallogenic Information.