| ||September 10, 2015|
$2.4 million Search project encourages investment in northwest British Columbia
| ||Geoscience BC is launching the new $2.4 million 'Search' project in northwest British Columbia to help explorers identify new mineral deposits and diversify the local economy. The project will bring renewed exploration interest to the area, which has recently seen Pretium Resources Inc.'s Brucejack project begin development work toward commercial production.|
"These types of surveys are vitally important in identifying new mineral deposits and diversifying local economies," says Minister of Energy and Mines Bill Bennett. "The northwest is a very prospective area and regional geoscience programs like Search stimulate much-needed mineral investment and help complement other projects in northwestern BC, such as LNG projects."
The Search project will consist of a 6,700 square kilometre airborne magnetic survey between Terrace and Smithers at much closer line spacing than previous surveys, filling in the gaps and providing new, detailed data to attract exploration and investment to the area. B.C.-based Precision GeoSurveys Inc. was selected to fly the survey.
"This work helps us make the most of B.C.'s resource potential, and mining is a significant contributor to the B.C. economy," says Prince George-Mackenzie MLA Mike Morris, "The Search project will help keep us in the lead across Canada when it comes to mineral exploration and development."
"This high-resolution airborne magnetic survey will provide the public with much more detailed information about the area's mineral potential compared to the data that are currently available," says Robert Quartermain, Chairman and CEO of Pretium Resources Inc. and Geoscience BC Board member. "Mineral exploration is a high risk business venture but it has the potential to provide a significant economic return. The airborne information helps reduce some of the discovery risk and attract the investment that can lead to the discovery of new mines."
"The odds of drilling a mineral discovery are estimated at 1 discovery for every 1000 properties drilled," says Geoscience BC's President and CEO, Robin Archdekin. "The Search project will provide us with a much better understanding of the region's mineral potential that will help explorers discover that 1 of 1000 properties that will lead to jobs for British Columbians."
Airborne geophysical survey data released by Geoscience BC has traditionally stimulated renewed exploration interest evidenced by jumps in mineral claim-staking. Exploration also leads to local procurement of goods and services to help stimulate and diversify local economies.
When completed, Search project information will be made freely available to everyone through www.geosciencebc.com.
For more information, please contact:
604.662.4147 or 778.980.6673
Geoscience BC is a trusted partner providing earth science to encourage investment that benefits all British Columbians.
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