OMEP budget increases by $4 million

The Ontario government is throwing an additional $4 million into the Ontario Mineral Exploration Program (OMEP) for fiscal 1986-87, increasing the budget to $12 million from $8 million.

Edward Solonyka, OMEP administrator, says the extra money was needed to meet the increasing demands of the program.

OMEP pays 25% of the exploration costs for eligible Ontario mining projects. The money, which takes the form of direct grants to individuals and tax credits to corporations, is generally used to cover grassroots expenses such as geophysical surveys and diamond drilling.

The program was introduced in 1980 to encourage more exploration work in Ontario.