N.W.T. exploration continues to wane

Exploration expenditures in the Northwest Territories are expected to decline by about 13% in 1991, following a 31% drop last year.

Based on the results of a telephone survey of companies working in the area, the Territories’ Chamber of Mines expects 1991 expenditures to be about $33.2 million compared with $38 million in 1990 and a record high of $112.6 million in 1988.

About 83% of the exploration funds will be spent by majors, compared with 53% in 1989. The Chamber attributes the decline in junior exploration to the cancellation of federal government incentive programs.