Ontario, BC prospectors get funding

The Ontario government is looking to boost mineral exploration in the province by putting $2 million into the Ontario Prospectors Assistance Program (OPAP).

“We support the mineral exploration industry, and we recognize that prospectors increase Ontario’s wealth by discovering new mineral deposits,” states Chris Hodgson, minister of Northern Development and Mines. “Our government is determined to do everything it can to support the industry, particularly the prospectors and developers, who are fundamental to the industry’s future.”

The OPAP program provides up to $10,000 to qualified individuals. Junior and major companies have optioned at least 225 former OPAP-assisted projects, resulting in a minimum of $35 million in additional exploration expenditures.

OPAP packages were sent to all 1997 applicants April 7, and have since been made available at the ministry’s regional offices.

Meanwhile, in Quebec, the deadline for government assistance to prospectors under the Quebec Mineral Exploration Assistance Program passed April 17.

Prospectors there can receive up to $4,000 for basic prospecting and $15,000 for advanced work. All mineral exploration projects are eligible, with the exception of those involving oil and gas, placer gold and construction materials (sand, gravel and crushed stone).

The Quebec government gave companies exploring in the province until May 1 to submit their projects for funding consideration. Government assistance to exploration companies can go as high as $50,000 per project; projects in the Near-North region (covering the full east-west extent of the province, roughly between Schefferville and Chibougamau, plus almost all land east of Sept-Iles) are eligible for as much as $100,000.

Prospectors in British Columbia are also receiving financial aid.

The province’s Prospectors Assistance Program, renewed in the recent provincial budget, will provide $500,000 in grants for grassroots exploration in the province this year.

“Our program encourages prospectors to do the high-risk exploration work where financing is hard to get,” says Energy and Mines Minister Dan Miller, adding that “grassroots exploration is the lifeblood of the mining industry.” The program provides grants to prospectors of up to $10,000. Successful applicants will receive half the money up front and half after received approval for a prospecting report form. The deadline for applications has passed.