The Thunder Bay-based Ontario Prospectors Association (OPA) will help fund grassroots exploration through its newly created Ontario Exploration Corp. (OEC).
Partially funded by the Ontario government through the Northern Ontario Heritage Fund, the OEC will administer a fund designed to help prospectors cover costs associated with exploration by offering to buy a 1% royalty in exploration projects for $5,000.
“The fund will help advance grassroots properties, making them more attractive to prospective junior or major mining companies,” says OPA President Vivienne Cot.
The royalty interests will create a self-sustaining fund, and money from this fund will be given to projects that meet economic and exploration criteria. To be eligible, a prospector must have an Ontario prospector’s licence, as well as mining claims in good standing.
Applications and a guidebook can be downloaded by visiting www.ontarioprospectors.com
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