Spending on mineral exploration in Canada increased last year over figures recorded for 1995, according to a report released by Natural Resources Canada. .TThe level rose to $873 million from $718 million.
Precious metals were the most sought-After minerals, with companies spending $277 million on exploration. Other exploration expenditures included: $218 million for base metals; $147 million for diamonds; $28 million for uranium; $18 million for other metals; $12 million for coal; and $18 million for minerals other than coal.
Surface diamond drilling totalled 2.3 million metres in 1995 — 15% higher than in the previous year.
Of the districts that attracted the most exploration spending last year, the Northwest Territories was in top spot with $183 million of the total. Ontario claimed second place with $177 million and Quebec attracted $128 million, whereas companies spent $116 million exploring in British Columbia.
Senior companies spent $567 million in 1996, while their junior counterparts pumped $306 million into the exploration sector.
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