Mining News: Yukon grants C$1.6M to explorers, prospectors

The Government of Yukon May 18 announced that it has approved 21 placer and 38 hard rock projects to receive C$1.6 million in funding through the Yukon Mineral Exploration Program. Designed to promote and enhance mineral prospecting and exploration in the Yukon, YMEP provides up to C$40,000 per year for exploration work aimed at discovering new placer resources or for exploration work aimed at moving a discovery on a claim to an advanced exploration stage; up to C$25,000 a year for basic exploration work directed at exploring for and appraising a region with known mineral potential; and up to C$15,000 a year for basic operating expenses while prospecting for new mineral occurrences. The Yukon government said the grants provided under this program are expected to leverage additional exploration in the region. Many of the gold discoveries that have recently drawn the interest of major gold producers have previously benefitted from YMEP grants. “The exploration projects funded by the Mineral Exploration Program are a fundamental step in the discovery of mineral deposits, which can lead to advanced exploration projects and mine development that can improve the economy of nearby Yukon communities over the long-term,” said Yukon Minister of Energy, Mines and Resources Ranj Pillai. “For the 2017 field season, this investment by our government is expected to leverage an additional $3.7 million of spending by the grant recipients during the 2017 exploration season.” After the season’s exploration activity is complete, each grant recipient must submit a technical report that is reviewed by the Yukon Geological Survey and used to improve Yukon’s geological information, which ultimately benefits the entire Yukon mineral sector.

–SHANE LASLEY