Skip to content

Exploration

The Reminder is making its archives back to 2003 available on our website. Please note that, due to technical limitations, archive articles are presented without the usual formatting. Thirty-seven new mineral exploration projects representing $17.

The Reminder is making its archives back to 2003 available on our website. Please note that, due to technical limitations, archive articles are presented without the usual formatting.

Thirty-seven new mineral exploration projects representing $17.1 million in total investment are now underway with the help of $1.1 million in financial assistance from the Manitoba government, Industry, Trade and Mines Minister MaryAnn Mihychuk announced today. "With our strong combination of financial incentives and superior geological attributes, Manitoba continues to be a magnet for exploration companies. With this latest offering, five companies approved for funding will be investing in Manitoba for the first time," said Mihychuk. "A robust and healthy climate for mineral exploration is absolutely necessary for the establishment of new mines in Manitoba and the creation of new jobs in Manitoba's minerals sector." Funding is provided through the Mineral Exploration Assistance Program (MEAP), designed to encourage exploration that may result in the discovery and development of mineral deposits and mines. The minister noted that several projects assisted by MEAP have generated exciting news for Manitoba's mining industry in the past year. See 'Discovery' P.# Con't from P.# International Curator Resources Ltd. has reported a new gold discovery at Assean Lake and Bema Gold Corporation continues to explore and add to their gold resource in northeastern Manitoba. In addition, Rare Earth Metals Corporation, another MEAP recipient, has discovered heavy rare earths at Eden Lake, 35 kilometres northwest of Leaf Rapids. Heavy rare earths are essential to many of today's high-tech and environmental applications, such as lasers, permanent magnets, rechargeable batteries, magnetic refrigeration, high-temperature superconductivity, and safe storage and transport of hydrogen. "That makes the discovery of heavy rare earths in Manitoba very significant," Mihychuk said. "The value of refined rare earths used in the United States in 2002 was estimated by the U.S. Geological Survey at more than $1 billion. China currently provides about 80 per cent of North America's rare earth elements. With the discovery at Eden Lake, Manitoba has the potential to become a supplier of these minerals." Bema Gold Corporation and joint venture partner Wolfden Resources Inc. are reporting impressive results from their Monument Bay project located near Red Sucker Lake. In addition to previously established high-grade gold mineralization on the property, the company has found another significant gold discovery, the Twin West Zone. Bema's plan to spend a further $3 million to continue assessment of the property shows confidence in Manitoba's mineral potential and investment climate for exploration and development, Mihychuk said. "Previous gold mining activity in northeast Manitoba dates back to the 1940s. This renewed focus on gold exploration in the region is extremely encouraging. We are delighted with the outstanding results that Bema has reported and their ongoing work in partnership with surrounding communities." The Mineral Exploration Assistance Program provides financial assistance of up to 35 per cent of eligible project expenditures, to a maximum of $400,000 per recipient each fiscal year. Funding of $2.5 million is allocated annually through two offerings that accommodate the spring/summer and fall/winter mineral exploration phases.

push icon
Be the first to read breaking stories. Enable push notifications on your device. Disable anytime.
No thanks