July 14, 2022
The Mining Incentive Program (MIP) has announced recipients for the latest round of funding for exploration projects in the NWT. Sixteen project applications were successful and have been awarded funding for the 2022-2023 fiscal year.
The program provides funding to prospectors and exploration companies for both grassroots and advanced exploration projects. The MIP stimulates and sustains mineral exploration activities in the NWT that are vital to a healthy mining industry.
An evaluation committee reviewed and scored project proposals with funding awarded to the highest scoring applicants.
Under the Corporate category, successful applicants are:
Arctic Star Exploration Diamonds North Slave $168,000
Fireweed Zinc Zinc Beaufort Delta/Sahtu $132,000
Gold Terra - Campbell Shear Gold North Slave $132,000
Gold Terra - Nib North Gold North Slave $60,642
Golden Planet Gold North Slave $129,344
Kennady Diamonds Diamonds North Slave $136,800
NICAN Resources Nickel South Slave $67,879
Nighthawk Gold Gold North Slave $124,800
Redbed Resources Copper Dehcho $136,800
StrategX Elements Cobalt North Slave $120,000
Voyageur Exploration Rare Earth Elements North Slave $22,349
Under the Prospector category, the successful applicants are:
Danny Yakeleya Gold Sahtu $17,500
Dave Nickerson Uranium North Slave $6,840
Dave Webb Gold North Slave $11,690
Jared Suchan Diamonds North Slave $20,000
Ryan Bachynski Rare Earth Elements North Slave $15,784
In total, 11 Corporate projects received a total of $1,230,614 and five Prospector projects received a total of $71,814, for a grand total of $1,302,428. All MIP-funded work must be completed by the end of March 2023.
The MIP was launched in 2014 to help increase levels of mineral exploration in the NWT and is administered by the Northwest Territories Geological Survey. The 2022-2023 program supports the GNWT mandate goal to attract and support both early-stage and advanced exploration projects.
The MIP has been oversubscribed every year, with the total funding requested consistently more than twice the available funding.