Wednesday, September 3. 2008

Geologic Mapping Payback for Canada

The Financial Post reports that Canada is about to invest $100 Million over five years to finish the geologic mapping of Canada begun 166 years ago. And the projected payback for mapping and understanding the resource potential could be enormous. According to the article, "A 1999 study found that a $1-million investment by government in expanding the geoscience knowledge base will lead to $5-million in private sector exploration. In turn, this will lead to the discovery of new resources worth $125-million. Keeping in mind that those are 1999 numbers and that today mineral resources are worth considerably more, we can all see that Ottawa’s new $100-million has a potentially huge economic payoff for all Canadians."

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