Determination that an exploratory program is not required.

§ 2720.2 Determination that an exploratory program is not required. (a) In instances where available data indicate that there are no known mineral values in the land covered by the application, an exploratory program shall not be required. (b) The authorized officer will not require an exploratory program to ascertain the presence of mineral values where the authorized officer determines that a reasonable person would not make exploration expenditures with expectations of deriving economic gain from the mineral production. (c) The authorized officer will not require an exploratory program if the authorized officer determines that, for the mineral interests covered by the application, sufficient information is available to determine their fair market value. [44 FR 1342, Jan. 4, 1979, as amended at 60 FR 12711, Mar. 8, 1995]