The Prospectors and Developers Association of Canada (PDAC) recently questioned federal officials about the requirements which the organization said are significantly more demanding than was previously indicated when the regulations were being drafted.
PDAC Managing Director Anthony Andrews said Energy, Mines and Resources Canada, the ministry responsible for the new grant program which replaced the earned depletion allowance scheme (the additional investment tax write-off allowed under flow- through financing) for mining exploration, was quick to respond.
The PDAC, Andrews said, received a communication from the director of CEIP operations, Peter McLean, confirming the “CEIP administration will not require, as a matter of course, geological logs, downhole surveys and location sketches of diamond drill holes for which an application has been made.”
McLean points out such information should be available for technical audits-inspections of project applications which CEIP officials will undertake.
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