2-02754

$1 MILLION ANNOUNCED FOR GEOSCIENCE PROJECTS IN YUKON

Whitehorse, Yukon (March 6, 2006) - The Honourable Jim Prentice, Minister of Indian Affairs and Northern Development and Federal Interlocutor for Métis and Non-Status Indians, is pleased to announce today a total of over $1 million in funding towards geoscience activities in Yukon.

“This funding will contribute to collecting and compiling important geoscientific information in Yukon” said Minister Prentice. “It will provide information that can be used by government, industry and individuals to have a better understanding of the geological reality in Yukon and could spur important economic development opportunities.”

“This funding will help to stimulate mineral exploration in under-explored areas with significant potential for copper, gold, tungsten, uranium and other metals,” Yukon Energy, Mines and Resources Minister Archie Lang said. “It supports responsible management and development of Yukon’s mineral resources.”

The Strategic Investments in Northern Economic Development (SINED) programming set includes two complementary programs – the Targeted Investment Program (TIP) and the renewed Innovation and Knowledge Fund (I&K). TIP is designed to distribute $90 million in funding over five years across the three territories while I&K is an ongoing annual program that was recently renewed. The funding announced today flows from the Targeted Investment Program

The foundational investments made under these programs will help to generate important economic opportunities for Northerners, their businesses and their communities.

The funding will be used by the Yukon Geological Survey, in partnership with the Geological Survey of Canada, to support three separate projects - $820,000 will go towards conducting aeromagnetic surveys in the Wernecke Mountains, $82,000 towards conducting regional geochemical surveys near Old Crow and Flat River, and $100,000 will help begin the process of compiling a digital surficial geology map of Yukon.

For more information, please contact:

Line Gagnon
Senior Communications Advisor
Indian and Northern Affairs Canada – Yukon Region
(867) 667-3315

Grant Abbott, Director
Yukon Geological Survey
Department of Energy, Mines, and Resources
Government of Yukon
(867) 667-3200

Backgrounder

Back to News Release Index