September 29, 2004
Province Provides $1.1 Million for Mineral Exploration
Province Provides $1.1 Million for Mineral Exploration- - -
Assistance Expected to Support Almost $20 Million in Industry Expenditures
A total of 50 new exploration projects proposed by 37 companies will benefit from $1.1 million in assistance from the province's Mineral Exploration Assistance Program (MEAP).
“These new exploration projects create jobs and bolster the economy of our province and our North in particular,” said Industry, Economic Development and Mines Minister Scott Smith. “Our exploration incentives, combined with Manitoba's mineral potential for gold, nickel, diamonds, and other precious and base metals, continue to make the province an attractive target for exploration.”
Six of the companies receiving assistance have not explored in Manitoba before. More than half of the 50 projects are in the Lynn Lake/Leaf Rapids, Bissett, Northern Superior and other northern regions where more assistance—up to 35 per cent of eligible expenses—is available. Based on estimates the support will leverage about $20 million in exploration.
“The program has helped to further several advanced gold exploration projects that underscore Manitoba's exceptional potential for new gold discoveries,” said Smith.
Some key developments in gold exploration:
· West of Snow Lake, Foran Mining Corp. is proceeding with exploration and underground development and looking to produce gold at its North Star Gold property in 2005.
· At the Bissett Gold Mine, Rice Lake Gold Corp. continues to expand its gold resource in and around the former producing mine.
· Bema Gold Corp. and Wolfden Resources Inc. are finding high-grade gold values throughout the property at their Monument Bay Project, 100 kilometres east of Gods Lake.
· Bema recently announced that $5 million in proceeds from flow-through share financing will be used for further exploration on the property.
· At Assean Lake, 120 km northwest of Thompson, Canadian Gold Hunter Corp. and joint-venture partner Rare Earth Metal Corp. have announced that a major drilling program is underway. It will follow a winter program that resulted in the best gold values to date.
Manitoba's nickel potential is also being explored just 40 km from Thompson at the Mel property where MEAP recipient Nuinsco Resources Ltd. has significantly increased the property's estimated nickel resource.
MEAP also assists companies such as Diamonds North Resources Ltd. and Geodex Minerals Ltd. that continue to explore Manitoba's remote Hudson Bay Lowland for kimberlites and Canada's next diamond mine.
“These exploration projects help generate interest for other companies such as Falcon Ventures Inc. in acquiring prospective properties in Manitoba's under-explored frontier regions,” said Smith. “New and ongoing exploration in the region is a big boon to northern communities like Gillam and Churchill.”
Manitoba's mining industry contributes about $1 billion to the provincial economy annually through mineral production.
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Mineral Exploration Assistance Program
Approved MEAP Projects by General Region of Exploration
April 1, 2004 Offering
| | Area/Company | Commodity | Assistance Allocation $ |
|
| NORTHERN SUPERIOR |
|
|
| * | 4270828 Manitoba Ltd. | Gold | 2,464.32 |
|
| Bema Gold Corporation (2 projects) | Gold | 90,107.41 |
|
| BHP Billiton Diamonds Inc. (2 projects) | Nickel, copper | 33,591.81 |
|
| Buhlmann & Associates Inc. | Silver | 5,231.51 |
| * | Diamonds North Resources Ltd. | Diamonds | 14,278.58 |
|
| Donner Minerals Ltd. (2 projects) | Nickel, copper, PGE | 75,330.32 |
|
| Explorateurs Innovateurs de Québec Inc. | Zinc, copper, gold | 9,017.47 |
| * | Falcon Ventures Inc. | Gold | 13,216.45 |
| * | Geodex Minerals Ltd. | Diamonds | 19,360.03 |
|
| Gossan Resources Limited | Gold | 15,524.68 |
|
| NDT Ventures Ltd. | Gold | 5,879.43 |
|
| Placer Dome Canada | Gold | 27,089.67 |
|
| Tanqueray Resources Ltd. | Gold | 27,233.11 |
|
| Torch River Mines Ltd. | Gold | 27,540.72 |
|
| ValGold Resources Ltd. (2 projects) | Nickel, copper, PGE | 36,794.82 |
|
| FLIN FLON / SNOW LAKE |
|
|
|
| Athapap Gold Inc. | Gold | 3,570.85 |
|
| Aurora Pacific Consulting & Development Corp. | Diamonds, platinum | 13,343.06 |
|
| Buhlmann & Associates Inc. | Gold | 13,207.23 |
|
| Foran Mining Corporation | Gold | 44,869.18 |
|
| Hudson Bay Exploration and Development Co. Ltd. | Copper, zinc | 6,150.08 |
|
| Pioneer Metals Corporation | Gold | 9,845.96 |
|
| Strider Resources Limited | Gold | 6,270.19 |
|
| W. Bruce Dunlop Ltd.( 2 projects) | Gold, diamonds | 25,168.96 |
|
| LYNN LAKE / LEAF RAPIDS |
|
|
| * | 4865902 Manitoba Ltd. | Nickel, copper, PGE | 46,826.98 |
|
| Rare Earth Metals Corp. | Rare earth elements | 27,595.79 |
|
| Trans America Industries Ltd. | Gold | 46,826.98 |
|
| W. Bruce Dunlop Ltd. | Gold | 30,945.93 |
|
| SOUTH CENTRAL MANITOBA |
|
|
|
| No projects for south central Manitoba |
|
|
|
| SOUTHEASTERN MANITOBA |
|
|
|
| Exploratus Ltd. | Gold | 19,245.14 |
|
| Golden Pocket Resources Ltd. | Gold | 46,627.56 |
|
| Gossan Resources Limited (2 projects) | Gold, platinum, palladium | 27,659.85 |
|
| ICON Industries Limited | Gold | 29,177.72 |
|
| Outback Capital Inc. | Gold | 21,218.59 |
|
| Placer Dome Canada (2 projects) | Gold | 38,603.91 |
|
| San Gold Resources Corporation | Gold | 46,826.98 |
| * | Tudale Exploration Ltd. | Gold | 18,869.60 |
|
| W.S. Ferreira Ltd. | Copper, zinc, nickel | 4,670.99 |
|
| Wildcat Exploration Ltd. | Gold | 46,826.98 |
|
| THOMPSON NICKEL BELT & EXTENSION |
|
|
|
| Canadian Gold Hunter Corp. | Gold | 39,322.38 |
|
| Falconbridge Limited (3 projects) | Nickel | 73,405.83 |
|
| Nuinsco Resources Limited | Nickel | 4,756.10 |
|
| W.S. Ferreira Ltd. | Nickel | 5,506.85 |
* New Companies to Manitoba
Map of Manitoba with MEAP Projects