CSIRO Chief Executive Dr Malcolm McIntosh today announced new mineral exploration applications with billion dollar potential.

Dr McIntosh said that innovative technology which had led to the discovery of the world-class Bronzewing and Plutonic gold deposits would be adapted for a new search for diamonds in Western Australia.

Speaking at a Melbourne lunch hosted by the Australia-Israel Chamber of Commerce, Dr McIntosh said that technology developed by CSIRO Exploration and Mining, and more recently the Cooperative Research Centre for Landcsape Evolution and Mineral Exploration (CRC LEME), had already led to the discovery in Australia of gold deposits valued at $2 billion.

"CRC LEME is now negotiating an agreement with Astro Mining NL for a program of diamond exploration in Western Australia," said Dr McIntosh.

"CSIRO techniques are based on sound geoscientific principles," said Dr McIntosh. "The Astro exploration team will be using the most advanced techniques derived from our research findings."

The technology involves using super-sensitive techniques to identify the geochemical 'haloes' of gold- or diamond-rich mineral deposits.

"Today's mineral exploration involves advanced computing, sampling, modelling, and remote sensing by satellite'" he said. "The techniques pioneeered by CSIRO and its industry sponsors have directly contributed to the discovery of a number of major mineral deposits, which have a very large economic benefit for Australia."

Dr McIntosh told guests at the IACC lunch that Australia's future depended on more and better science. "Every aspect of our lives is touched by science," he said. "And science has become absolutely fundamental to international business success."

More information from: Mr Chris Priday 02-9887 8247, 018 416 470