The term “exploration” means the search for new or unexplored deposits of minerals, including related development work, within the United States, its Territories and possessions, whether conducted from the surface or underground, using recognized and sound procedures including standard geophysical and geochemical methods for obtaining mineralogical and geological information.
In order to provide for discovery of additional domestic mineral reserves, the Secretary of the Interior is authorized and directed to establish and maintain a program for exploration by private industry within the United States excluding organic fuels and to provide Federal financial assistance on a participating basis for that purpose.
The Secretary is also authorized to enter into exploration contracts with individuals, partnerships, corporations, or other legal entities which shall provide for Federal financial participation as he considers in the national interest.
Departments and agencies of the Government are authorized to advise and assist the Secretary of the Interior and may expend their funds for such purposes, with or without reimbursement as may be necessary.
