The Manitoba government will fund 42 provincial exploration projects to the tune of $2.5 million.
The funding is part of Manitoba’s Mineral Exploration Assistance Program (MEAP), which is designed to attract grassroots exploration and investment in the province’s mining and mineral sector.
The projects approved under the program include exploration programs for copper, zinc, gold, nickel and industrial minerals. The approvals bring to 98 the number of projects being subsidized by the provincial government. The proposed exploration budgets of those projects total $26 million.
The increased exploration activity in Manitoba, according to mines minister Darren Praznik, has resulted in such projects as Hudson Bay Mining’s Photo Lake mine, TVX Gold’s New Britannia mine, Black Hawk Mining’s expanding Lynn Lake operation, and the construction of Rea Gold’s gold mine at Bissett.
Among those companies that received the most funding in this round are Hudson Bay, Inco and Falconbridge. They each received approximately $300,000 for the exploration of copper, zinc and nickel.
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