Premier Sandy Silver announced at the Mineral Exploration Roundup in Vancouver last night that the Government of Yukon has increased funding for the Yukon mineral exploration program (YMEP) to $1.6 million for the 2017–18 fiscal year.
In addition to the three existing program modules for mineral exploration, this year the Government of Yukon is considering a new module specifically for placer exploration.
The program has been very successful over the years. For each dollar invested by the Yukon government, over $3 in private sector investment has been leveraged in the same year, and a number of significant mineral discoveries can be attributed to YMEP-funded exploration work.
“Our government is committed to supporting the exploration industry and sustainable mine development over the long term. The YMEP is one of the clear ways that government can support businesses in the industry. This financial assistance enables exploration companies to leverage additional private funding to carry forward with their plans for the year ahead, and this activity creates jobs and provides benefits for our communities.”
–Minister of Energy, Mines and Resources Ranj Pillai
- The Yukon mineral exploration program, administered by the Yukon Geological Survey, is a funding program designed to support early-stage exploration. It provides a portion of the risk capital required to locate hard rock and placer mineral occurrences.
- Both hard rock and placer projects are eligible for YMEP funding. On average, more than 100 applications are received each year, with requests totalling roughly twice the available funds.
- Applications are due on March 31 each year and are ranked by merit using scoring criteria that are posted on the Yukon Geological Survey website. Only applications that exceed a minimum score are offered grants.
Communications, Energy, Mines and Resources