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Prospectors Assistance is a provincially funded program which
provides training and direct financial support to individuals
and is designed to encourage and promote development of the
mineral-prospecting industry and the discovery of wealth-generating
mineral deposits. The program has two components: Prospector Training
and Prospecting Grants.
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Direct financial assistance is provided to eligible resident prospectors who are at least 19 years old and involved in independent mineral exploration activities. Approved projects on crown land or the proponents’ registered claims are supported by grants of up to $4,000 for traditional and grass-roots prospecting. An extra $2000 is also available for air (float plane or helicopter) support to remote properties with no other means of access.
Mineral exploration and prospecting involves high-risk investment. Prospecting requires geochemical, geophysical and other geo-technical support which is expensive but essential, and the prospector’s chance of financial return is low. Prospecting grants help fund these activities and provide support to prospectors in search of wealth-generating mineral commodities. The prospectors are also supported by field visits and guidance from the program manager, as well as other departmental personnel. Forty to sixty percent of the grant is paid in advance and the remainder is paid upon satisfactory completion of the project and submission of an approved final report.
The Department of Natural Resources considers the prospector’s assistance grants very successful and fundamental in providing a basis for future mineral development. Any mineral prospects that develop to production have a positive, "real wealth" affect on the provincial economy. |
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The Department of Natural Resources also supports an
educational component by providing professional
instruction and other resources towards a 14-day
comprehensive training course in basic prospecting
skills. The tuition-based course is delivered
annually in late spring through the provincial
community-college system.
This year the department is expanding the course
into Labrador. It is currently only offered in
Stephenville and is open to all residents of the
province. The course will be offered in Happy
Valley-Goose Bay this summer as well. We also have
preliminary plans to offer the course in other parts
of Labrador in the future.
Newly trained prospectors have discovered a
considerable number of significant prospects and have
optioned properties to private-sector companies for
further exploration and development.
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