The hunt for gold was the power behind a 24.8 per cent lift in Australian mineral exploration spending to $1.19 billion last quarter.

Australian Bureau of Statistics data showed that gold dominated exploration expenditure, up 23.6 per cent to $565.6 million during the June quarter.

On a year-on-year basis, gold exploration had jumped 47.8 per cent to $1.93 billion, the Association of Mining and Exploration Companies (AMEC) said.

“These results reveal an extraordinary quarter for Australian gold exploration, with more than half a billion dollars spent searching for gold in just three months,” AMEC acting chief executive officer Neil van Drunen said.

“Gold exploration expenditure has jumped almost $108 million in a single quarter and is now 40 per cent higher than this time last year.

“The strong demand for gold in the market is providing confidence to explorers to get drill rigs on the ground, and we’re seeing that activity confirmed in these ABS figures.”

Greenfields exploration was up 27.3 per cent from the March quarter to $274.5 million and up 7.3 per cent compared to the same time last year.

Greenfields exploration for copper rose 29.2 per cent, and silver, lead and zinc were up 60.8 per cent for the quarter.

Exploration expenditure for uranium lifted 130 per cent to $15.4 million for the quarter.

“These results demonstrate geopolitical events haven’t dampened enthusiasm for exploration, and our industry is finding a way,” Mr van Drunen said.

“From staples like iron ore to the emerging critical minerals market, the most encouraging figure is the 69 per cent jump in greenfields drilling metres.

“It reflects the desire of many of our member companies trying to find new deposits.”