SAULT STE. MARIE — The Ontario authorities has invested $5.eight million to assist junior mining firms probe for important minerals utilized in manufacturing batteries for electrical autos, smartphones, prescription drugs and superior manufacturing applied sciences. This funding is a part of the federal government’s Ontario Junior Exploration Program (OJEP) to assist improve and broaden mineral exploration, progress and job creation within the province, notably in northern and Indigenous communities.
“These investments are an essential a part of our authorities’s plan to construct our economic system as we help business exploration for the important minerals Ontario is blessed with,” stated Premier Doug Ford. “We’re constructing a provide chain ecosystem, connecting assets and staff within the north to the way forward for clear metal and electrical autos, and making certain the vehicles of the long run may be inbuilt Ontario from begin to end by Ontario staff.”
Ontario is investing a complete of $12 million over 4 years for important mineral exploration within the OJEP. For the reason that launch of this system in 2021, 32 mining firms have acquired funding for exploration of minerals corresponding to nickel, copper, cobalt and lithium. These firms have invested a further $12.eight million in these initiatives.
“Early exploration is step one to discovering future mines together with important minerals,” stated George Pirie, Minister of Mines. “The Ontario Junior Exploration Program helps unlock the province’s huge mineral exploration potential and paving the best way for unprecedented progress in our mining sector.”
The Ontario Junior Exploration Program has funded the next important minerals mining initiatives:
- $200,000 to VR Sources Ltd. to finish a drill program with eight holes
- $200,000 to MacDonald Mines Exploration Ltd. to finish a drill program with eight holes
- $200,000 to Tyko Sources Inc. to finish the Tyko Ni-Cu-PGE drilling program, consisting of 9 holes
- $172,000 to BTU Metals Corp. to finish a drill program with three holes
- $150,000 to 5007223 Ontario Inc. to finish a diamond drill program with 5 holes, line chopping actions and an induced polarization (IP) survey
- $71,857 to Transition Metals Corp. to finish an airborne geophysical survey over an space of 363 kilometres
“Our authorities will proceed to make focused investments that improve progress in locally-driven mineral exploration whereas bolstering provide chains,” stated Greg Rickford, Minister of Northern Growth. “By supporting early exploration, we’re opening the door for financial growth throughout the north that can result in prime quality full-time jobs and stronger communities.”
The province is at the moment accepting a 3rd spherical of purposes for the Ontario Junior Exploration Program. The deadline to use is March 16, 2023. Particulars on the applying course of are available online.
Fast Info
- The Ontario Junior Exploration Program covers as much as 50 per cent of eligible prices as much as $200,000 for every undertaking.
- To be eligible to use for funding, junior mining firms will need to have a market capitalization of as much as $100 million, or a comparable worth, if they’re privately owned.
- Since launching the Ontario Junior Exploration Program in 2021, Ontario dedicated $29 million over 4 years to this system. This contains $17 million for every type of minerals, and a brand new $12 million stream devoted completely to important minerals exploration.
- Ontario’s mining sector is a big financial driver, supporting 75,000 jobs within the mining business.
- The Authorities of Ontario is targeted on creating the setting that can enable the province to develop into a key provider, producer and producer of important minerals wanted for electrical autos together with nickel, copper, cobalt and platinum group parts.
Quotes
“The Ontario Prospectors Affiliation helps the federal government’s Ontario Junior Exploration Program. Help packages enable explorers to finish extra exploration and appeal to junior explorers to the province. Exploration supplies for financial stimulus in northern communities.”
— Garry Clark
President, Ontario Prospectors Affiliation
“OJEP funding made an actual distinction to VR’s REE important metals discovery at Hecla-Kilmer in Northern Ontario. Hecla-Kilmer has a excessive proportion of the 4 uncommon earth parts important for everlasting magnets utilized in all electrical autos and wind generators. The funding from OJEP has helped us advance and consider a possible new and home provide of those essential uncooked supplies mandatory for the quickly rising downstream EV business in Ontario.”
— Dr. Michael Gunning
President & CEO, VR Sources Ltd.
“The funding acquired from OJEP allowed MacDonald Mines Exploration Ltd. to incur extra work associated to the exploration of important metals at our 100 per cent owned SPJ greenfield undertaking situated within the Sudbury space. With the federal government figuring out our undertaking as one of many important mineral exploration initiatives within the province, it additionally introduced extra public consciousness to the corporate.”
— Greg Romain
President & CEO, MacDonald Mines Exploration Ltd.
“Junior firms like BTU Metals are at all times wanting funds to discover their giant land positions and to drill check their geological targets. The funding from OJEP allowed us to broaden the geological understanding of a portion of the property the place we had little or no info. The help was definitely appreciated.”
— Bruce Durham
VP Exploration, BTU Metals Corp.
“Transition Metals acquired funding from the Ontario Junior Exploration Program (OJEP), which has been invaluable within the development of its Maude Lake Ni-Cu-Co PGM and our Aylmer Cu-Au Initiatives. This system has enabled the corporate to extend its exploration efforts and entry extra assets, serving to to progress the initiatives far more quickly. As a small junior firm, we’re repeatedly challenged to supply acceptable capital to advance earlier stage initiatives and we’re very appreciative for the help from the Ontario authorities – an funding that we consider will profit all stakeholders within the coming years.”
— Scott McLean
President & CEO, Transition Metals
“It’s great that our authorities continues to help and put money into early exploration to construct Ontario’s mining sector. “When you think about how many individuals are employed by native companies that present very important providers and provides within the built-in mining provide chain, each time a mine opens in northern Ontario, Sault Ste. Marie wins!”
— Ross Romano
MPP for Sault Ste. Marie
From Ontario government.
