Yukon gives $1.6M to mineral exploration projects

In a news release, Energy, Mines and Resources Minister Ranj Pillai calls the projects 'a fundamental step in the discovery of mineral deposits.'

Funding program is intended to give a boost to prospecting and exploration in the territory

The Hyland Valley in southeast Yukon, site of Banyan Gold's Hyland project. The project is one of 38 hard rock projects to receive funding this year through the Yukon Mineral Exploration Program. (Banyan Gold)

There's some good news for Yukon miners, just as the annual Dawson City Gold Show gets underway this weekend.

The Yukon government has approved funding for 38 hard rock and 21 placer mining projects, through the Yukon Mineral Exploration Program.

That program is intended to give a boost to prospecting and exploration in the territory.

Mines Minister Ranj Pillai Pillai says the funding is expected to leverage an additional $3.7 million of exploration spending in Yukon, this year. (CBC)

In a news release, Energy, Mines and Resources Minister Ranj Pillai calls the projects "a fundamental step in the discovery of mineral deposits."

The funding totals $1.6 million dollars. Individual projects were eligible for grants up to $40,000.

Pillai says the funding is "expected to leverage an additional $3.7 million of spending by the grant recipients during the 2017 exploration season."

After the season is complete, recipients are expected to submit a technical report to the Yukon Geological Survey, to add to its collected information about Yukon's geology.

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