Prospectors and mining companies can now apply for funding from government’s Mineral Incentive Program to help find or develop new mineral resources.

The program helps to increase and promote mineral discoveries, leading to new mines in Nova Scotia.

“Our goal is to help prospectors and companies carry out exploration work, which can translate into jobs for Nova Scotians and opportunities for business,” said Natural Resources Minister Lloyd Hines. “It is one of several ways government promotes mineral exploration in Nova Scotia.”

This year, $400,000 is available through the Mineral Incentive Program. The program includes prospector grants up to $15,000 as well as shared funding grants up to $150,000, an increase of $50,000 from previous years.

Prospector grants are intended to fund activities by prospectors on grass-roots projects. Shared funding grants provide up to 50 per cent of eligible costs and are an industry-government, cost-shared initiative designed to fund exploration and evaluation activities beyond the grass-roots level.

Applicants are encouraged to submit applications on an ongoing basis for future consideration beyond the initial call for submissions. Evaluations begin Tuesday, June 7 and the first round of approved grants will be posted in mid-June.

Application forms and information for 2016-2017 prospector grants and shared funding grants are available at http://novascotia.ca/natr/meb/nsmip/nsmip1.asp .

Source: Release