CBC – Bonanza for Yukon mining exploration as spending doubles. 2017 exploration season shaping up to the busiest in 6 years.
By Nancy Thomson.
Exploration spending in the Yukon has more than doubled over last year, according to the Yukon Geological Survey. The exploration season is at its mid-point, and observers say 2017 is shaping up to be the busiest year for the industry since 2011.
Scott Casselman, head of mineral services with the Yukon Geological Survey (YGS), says strong base metal prices, combined with significant interest from major gold companies, has spurred activity this year. “What we’ve seen this year is a noticeable uptick in the amount of investment in mineral exploration in the territory,” he said. “We’re probably looking at about double what it was last year.
We’re looking at almost $100 million in exploration expenditures and I think the number was about $20 million in development expenditures, for a total of $120 million this year. “That compares to $57 million in 2016.” Casselman says major gold mining companies have partnered with junior companies, and that got the ball rolling.