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Launched in 2021, OJEP helps these companies cover eligible costs for critical and precious mineral exploration and development, states a release. Through the fifth round of funding, OJEP has committed the funding to 84 projects – 62 of them focussed on the exploration of
The program covers up to 50 per cent of eligible costs and up to a maximum of $200,000 per project. It also provides up to $10,000 to cover 100 per cent of eligible costs per project supporting Indigenous employment and business opportunities. To date, Ontario has committed $35 million over four years to the program. To be eligible to apply for funding, junior mining companies must have a market capitalization of up to $100 million, or a comparable value, if they are privately owned, the release reads.
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