Mineral Exploration:
New highs for Québec in 2006!

On November 1, 2006 , there where more than 175,000 active claims in Québec, which is a 10-year high.

In addition, chances are that exploration and deposit appraisal expenditures in Québec for 2006 will top the $200-million mark for the third year in a row. In fact, preliminary data on company spending intentions indicates that $234 million will have been invested in Québec. It should be noted that about sixty mining companies raised more than $1 million in financing for their work: 48 companies had a budget between $1 million and $5 million (including 42 junior companies); 6 companies had a budget between $5 million and $10 million (including 3 junior companies); 5 companies had a budget over $10 million (including 3 junior companies);

Based on the data for 2005, most exploration expenditures were allocated to work outside mine sites ($180 million, 88%). A large part of this work was managed by junior companies ($111 million) and senior companies ($63 million). The chart below shows 2005 exploration expenditures by commodity. Uranium stands out, with an increase in exploration investments of more than 300% compared to 2004.

For more information about the highlights of exploration work in the province, see  Report on Mineral Exploration Activities in Québec in 2006 (DV 2007-02 ).

Please note that this report will also be available at Québec’s PDAC booth.