Exploration Blossoms for Minerals and Hydrocarbons
in New Brunswick

New Brunswick is seeing increased activity by mineral and petroleum exploration companies. Following upon a banner 2005 year, more than 30 companies are directing their energies, expertise and financial resources toward finding new mineral deposits and oil and gas reserves. An estimated that approximately $16 million will be spent in 2006 by the mineral sector on exploration programs and more than $50 million on development projects.

Mineral exploration crews are searching many areas of the province, staking claims and conducting geological surveys. Geophysical companies are flying over the skies of New Brunswick conducting airborne surveys and drill rigs are probing the bedrock in various parts of northern, central and southern New Brunswick.

On the petroleum resource side, the oil and gas industry are re-examining the potential of hydrocarbon basins in the province. The analysis of accumulated exploratory and geoscientific data available to the public has resulted in an increase in land postings for the sale of rights to explore. The acquisition of 2-D and 3-D reflection seismic data, coupled with the drilling and completion work on wells is thrusting New Brunswick into the onshore Atlantic Canada spotlight. This year alone in the petroleum sector, exploration programs will exceed $20 million with development cost surpassing $80 million.

Some of the companies involved in these activities include:

Geodex Minerals Ltd. - Mt. Pleasant West, Sisson, Harry Brook in central and southern New Brunswick (gold, tungsten-moly)
Stratabound Minerals Corp. - Elmtree property in northern NB (gold)
Freewest Resources Canada Inc. - Clarence Stream, South Oromocto Lake area in central and southwestern NB (gold).
Contact Exploration Inc. - Stoney Creek project, Hillsborough area (oil & gas)
Corridor Resources Inc. - McCully Field, southern New Brunswick (gas)
Slam Exploration Ltd. - Nash Creek property in northern New Brunswick (zinc)
PetroWorth Resources Inc. - southeastern New Brunswick (oil & gas)
First Narrows Resources Corp. - Chester Mines and Middle River properties in northern New Brunswick (massive sulphides, gold)
Falconbridge Ltd. - Bathurst Mining Camp (base metals)
El Niño Ventures Inc. - Bathurst Mining Camp (base metals)
Mindset Resources Ltd. - Bathurst Mining Camp (base metals, gold)
Pershing Resources Inc. - Mount Pleasant area in southwestern NB (tin-indium, moly-tungsten)

On the mining side, Blue Note Metals announced in August that it plans to re-open the Caribou and Restigouche mines located west of Bathurst. Work on mine dewatering and detailed engineering plans are already underway.