Deposit Evaluation Program

What is NBDEP?

The New Brunswick Deposit Evaluation Program (NBDEP) is:

• Intended to support exploration activites aimed at evaluating and upgrading a historically reported resource estimate on a mineral deposit to NI-43-101 standards.
• Available to private or publicly traded mineral exploration companies that hold mineral rights or option agreements on property in New Brunswick.
• A financial assistance program to stimulate mineral exploration by providing up to 50% of eligible costs within prescribed limits.
• Administered by the Minerals, Policy and Planning Division (MPPD) of the Department of Natural Resources (NBDNR).

What work is eligible?

Eligible work will be restricted to:

• Detailed drilling on the mineral deposit.
• Assaying costs of drill core including re-assay of pre-existing core.
• Bulk sampling and metallurgical studies.

What are the funding limits?

The NBDEP funding limits per company are as follows:

• Up to 50% of project costs to a maximum of $100,000 per year per property.
• The other 50% of project costs will be borne by the mineral exploration company.

How to apply for funding?

To complete an application for a NBDEP grant:

• Complete the application form with the following: (a) the history of land tenure; (b) mineral exploration on the mineral deposit; (c) a detailed description of planned exploration work; (d) maps showing the location of proposed work, and (e) details of proposed expenditures.

Submit the completed application form to:

Maurice Mazerolle
Exploration Assistance Program Coordinator
Geological Surveys Branch, NBDNR
207 Picadilly Road
P.O. Box 5040,
Sussex, N.B., E4E 5L2
Tel: (506) 432-2010; Fax: (506)-432-2060

How are application evaluated?

A review committee consisting of representatives from MPPD evaluates applications based upon:

• The status of the existing resource estimate of the mineral deposit.
• The quality and merit of the proposal
• The applicant’s ability to complete the project.

The number of grants awarded will be based on the funds allocated to the NBDEP program in the budget year.

What happens after approval?

Once an application has been approved, the applicant will:

• Enter into a contract with the New Brunswick Department of Natural Resources, and
• This contract will govern such items as: (a) eligible costs; (b) timing of payments; and (c) authorized changes to the original work proposal.

Reporting Requirements

A work report is required that must be:

• Acceptable to the Mining Recorder (compliant with Regulation), and
• Accompanied by receipts for eligible expenditures.

Please note that the final report must be submitted to the Program Coordinator.