General News & Comment FAME grants double in British Columbia

Direct assistance to prospectors through British Columbia’s Financial Assistance for Mineral Exploration (fame) program have been doubled this year. Grants up to $5,000 are now available to qualified prospectors involved in the popular program. The $5-million program will also provide funding to exploration companies wanting to prove up properties with good mining potential and expand reserves at existing mines.

Applications have been arriving in record numbers; six weeks after the program was announced, 278 applications had been received and 156 grants were awarded ranging from $1,000 to $4,800. The average grant was $2,600.

According to Jack Davis, Minister of Energy Mines and Petroleum Resources: “More than 80% of British Columbia’s existing mines were discovered by individual, small- scale prospectors like the ones receiving fame grants.

Mr Davis noted that “applications were carefully evaluated and awards were made on the basis of experience, training, financial commitment, and the soundness of the exploration program.” Gold, silver and platinum are the target minerals for the majority of prospectors, he added. Because of the increase in fame grants this year, the ministry has hired a full-time prospectors training officer to assist fame- funded prospectors.