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Fund Supports Mineral Sector Growth

Nova Scotia has launched a new fund to boost the province’s mineral sector and help the search for mineral deposits across the province.

The Mineral Resources Development Fund supports grassroots prospecting to more advanced mineral exploration. This year $700,000 is available for mineral exploration programs, professional development, innovation, university research and training opportunities for young people.

“This new fund will spur investment and development in our mineral resource sector, and train the next generation of young people entering the industry,” said Natural Resources Minister Margaret Miller. “The fund responds to the needs of the industry and will help to attract investment into Nova Scotia at a time when there is renewed interest in our province’s mineral opportunities.”

John Shurko, prospector and president of 21Alpha Resources in Chester, Lunenburg Co. said the fund will help in the search for new deposits.

“We’re looking for gold. We’re also looking for elements such as indium, which is used in a lot of today’s tech. Our goal is to turn these deposits into a minable resource, open a mine, and that’s when you’re going to see real job creation in our province. I think that the economic spinoffs are something that are really going to benefit our province.”

The Mineral Resources Development Fund has seven funding streams that focus on:
— early-stage prospecting and exploration
— shared funding for more advanced exploration projects
— marketing
— research
— education, outreach and engagement
— innovation
— major projects that may include regional exploration surveys, remote sensing, equipment purchases and more.

The fund replaces the $400,000 Mineral Incentive Program, which was created in 2012.

Applications are now being accepted. More information about the fund and applications are available at https://novascotia.ca/natr/meb/mrdp.asp .

Source: Release

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