Minerals Deposit Evaluation Program
The New Brunswick Deposit Evaluation Program (NBDEP) is a financial assistance program to stimulate mineral exploration by providing up to 50% of eligible costs within prescribed limits.
Eligible work will be restricted to detailed drilling on the mineral deposit, assaying costs of drill core including re-assay of pre-existing core and bulk sampling and metallurgical studies. The program is available to private or publicly traded mineral exploration companies that hold mineral rights or option agreements on property in New Brunswick.
The program is intended to support exploration activities aimed at evaluating and upgrading a historically reported resource estimate on a mineral deposit to NI-43-101 standards.
The NBDEP funding limits per company are 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.
To complete an application for a NBDEP grant, obtain one from one of our three offices (Fredericton, Sussex or Bathurst).
The application should be submitted no later than April 1 of each year.
A review committee consisting of representatives from Minerals, Policy and Planning Division 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 and the number of grants awarded will be based on the funds allocated to the NBDEP program in the budget year.
Once an application has been approved, the applicant will enter into a contract with this department and this contract will govern such items as: eligible costs; timing of payments; and authorized changes to the original work proposal.
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 by March 1 of the next year.