WHITEHORSE—The Government of Yukon is investing $1.4 million in 62 projects to promote and enhance mineral prospecting and exploration activities in Yukon through the Yukon Mineral Exploration Program (YMEP).
“We received 103 applications for financial assistance for exploration projects, which shows there is a significant interest in Yukon’s mineral potential,” Minister of Energy, Mines and Resources Minister Scott Kent said. “The technical reports received after each year’s exploration activity help document and map Yukon’s geology, which ultimately benefits the entire mineral industry.”
It is expected that the 2015 YMEP funding recipients will spend an additional $4 million in private sector money on their exploration activities this season.
The Yukon Geological Survey assessed each of the applications based on the quality of the project proposal, the ability and experience of the applicants, favourable geology in the target area and the potential to generate additional economic development.
The YMEP supports individuals and companies by providing a portion of the capital needed to locate, explore and develop mineral projects to an advanced exploration stage. Funding is available under three categories:
- Grassroots – Prospecting: Covers basic operating expenses while searching for new mineral occurrences. Eligible for up to $15,000 per year.
- Focused – Regional: For basic exploration work directed at exploring for and appraising the potential of an under-explored area. Eligible for up to $25,000 per year.
- Target Evaluation: Directed at appraising the potential of an under-evaluated occurrence or target. Eligible for up to $40,000 per year.
Funding was approved for 15 placer projects and 47 hard rock projects.
Learn more: Yukon Mineral Exploration Program
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