The Southern Interior has joined a B.C.-wide downturn in mineral exploration, recording about $30 million worth of activity last year.
Exploration in the region in recent years has ranged from a high of $87 million to a low of $5 million.
The $30-million figure, however, is largely a reflection of large capital programs from operating mines or those nearing the development stage.
The Ministry of Energy and Mines said a breakdown of that spending is not available.
However, veteran mining promoter Jim Gillis believes much of that $30 million comes from exploration at New Afton and Ajax mines, rather than from grassroots prospectors searching for new deposits.
“Exploration spending is mostly around existing mines looking for extra life,” Gillis said.
Three years ago, Premier Christy Clark predicted five new mines would operate in B.C. this year.
But, the industry is struggling with sagging commodity prices and uncertainty about development in the face of last year’s Supreme Court of Canada decision on First Nations land in the Chilcotin.
“It puts a lot of uncertainty on people who want to spend,” Gillis said.
The mining promoter said he was recently involved in an exploration play in the Sechelt area on the Sunshine Coast that “is not getting past the local band.”
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