Yukon gives $1.6M to mineral exploration projects

There's some good news for Yukon miners, just as the annual Dawson City Gold Show gets underway this weekend.

The Yukon government has approved funding for 38 hard rockand 21 placer mining projects, through the Yukon Mineral Exploration Program.

That program is intended to give a boost to prospecting and exploration in the territory.

In a news release, Energy, Mines and Resources Minister Ranj Pillaicalls the projects "a fundamental step in the discovery of mineral deposits."

The funding totals $1.6 million dollars. Individual projects were eligible for grants up to $40,000.

Pillai says the funding is "expected to leverage an additional $3.7 million of spending by the grant recipients during the 2017 exploration season."

After the season is complete, recipients are expectedto submit a technical report to the Yukon Geological Survey, to add to its collected information about Yukon's geology.