The Exploration Permit’s granting order defines a minimum work program which the holder must carry out while the Permit is in effect, and the minimum financial outlay it is expected to devote to exploration each year during the term of the Permit and any renewals thereof. To this end, minimum expenditures per km2 are instituted for Exploration Permits, the amounts of which are set out in the mining Regulations.
The holder of a Exploration Permit must start Exploration work within the area of the Permit no later than six (6) months from the date of issuance of the Permit, and continue same diligently and according to generally accepted mining methods.
During this period of six (6) months, the titleholder must complete the activities set forth in the granting order and including the following operations after confirming with the National Mines Authority that work has begun:
- prepare activity reports and financial statements approved by the Administration following a period of work lasting at least three days within the exploration perimeter by at least one geologist hired by the titleholder or, alternatively, an aerial geophysical survey including at least three days of flights over the area;
- submit copies of the environmental notice to the National Mining Authority and the Mining Promotion and Development Centre;
- provide local authorities, for information purposes, with the Environmental Notice and an explanation of the planned mitigation and rehabilitation measures.