In 2019-20, the Government of Saskatchewan’s Targeted Mineral Exploration Incentive (TMEI) increased mining investment in the province by supporting 37 new exploratory drill holes, which generated approximately $2 million in expenditures by exploration companies.
The TMEI program was launched in October, 2018, to encourage drilling activity in support of exploration for base metals, precious metals and diamonds in a targeted area in the northeastern part of the province.
TMEI is part of the Government of Saskatchewan’s Mineral Development Strategy, which was designed to diversify the province’s mineral sector. A total of five companies, exploring for gold, zinc, copper and silver, completed drill programs under the TMEI program in 2019-20. Each received $50,000 in funding, for a total of $250,000.