EXPLORATION ’95 — Provincial grants used to expand

Mining and exploration companies in British Columbia took advantage of grant incentives offered by the provincial government to expand exploration and mine development in 1994.

Information released by the provincial mines ministry about its $100-million incentive program (launched last year) maintains the program is contributing to an increase in both exploration and mineral production. “Explore B.C.,” a key part of the program, is a 3-year, $13.5 million package “designed to stimulate exploration, to extend the economic lives of existing mines and to contribute to community stability in existing mining regions,” says an annual review issued by the ministry.

Under the program, grants of up to one-third of eligible exploration expenses, to a maximum of $150,000, were awarded to 59 exploration projects and 12 mines.

The Prospectors’ Assistance Grant Program, another component of the program, promotes grassroots prospecting; it contributes up to 75% of eligible costs, to a ceiling of $10,000. Grants totalling $500,000 were awarded to 69 applicants in 1994.