Thunder Bay takes lead in Mining Readiness Study For decades, newcomers and travelers through Alberta were often mesmerized by the landscape of the seemingly never-ending prairies dotted with towering “rigs” drilling for oil. Today, in the fall of 2020, a newcomer to northwestern Ontario is likely to get the same impression – What’s going on here? “Rigs” are everywhere. Mining exploration has reached a fevered pitch in the northwest part of Ontario as companies from around the world have descended on the vast region north of Lake Superior in search of precious metals such as gold, silver, nickel, copper, platinum, and palladium, and a string of other metals and minerals like cobalt and lithium that are needed for the new economy, including electric vehicles, solar energy and more. It’s hard to find accommodations in some of the smaller towns like Red Lake. Motel rooms are booked solid, small businesses and contractors are seeing a much-welcomed boost in business – geologists, like a 10-pound bass, are out there but they’re hard to find. Some of the biggest mining companies in the world are putting their fingerprints on the region. Along
with high-profile precious-metals investors like Eric Sprott, Rob McEwen and others, they are pouring hundreds of millions of dollars into junior mining companies, providing jobs for drillers, putting assay labs into overdrive, and striking a series of Impact Benefit Agreements (IBA’s) with the region’s First Nations communities. It’s one giant recipe for success. It’s so busy that the Thunder Bay Community Economic Development Commission (TBCEDC) is undertaking a Mining Readiness Study. The study is underway and is being led by the accounting firm of MNP LLP in partnership with TBT Engineering. “Thunder Bay and Northwestern Ontario are well-positioned to capitalize on, and support, the mining industry and major exploration projects,” says Thunder Bay CEDC Project Manager of Mining Services, John Mason. Mason says MNP and TBT Engineering will lead an analysis of needs and opportunities specific to the following themes: mine supply and service/business development, workforce/training/education, infrastructure, economic impact, and R&D/value added opportunities,
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specific to the 6 mines and 15 major exploration projects located in Northwestern Ontario. “Gold and palladium are leading the way on the exploration front at the grass roots and advanced levels,” according to Mason. “Currently 35-40 exploration diamond drills are active in Northwestern Ontario.”
Mining and Exploration snapshot (September 2020): Barrick Gold-Hemlo Mine Williams Mine is on track to produce 213,000 ounces of gold from open pit stock piles and underground, the latter being the mine’s future. Head grades are 3.89 g/t gold. Aggressive exploration is taking place on site and west of the mine. Evolution MiningRed Lake Mine Evolution released a new mineral resource at Red Lake Mine, of 11.0 million ounces, calculated by Roscoe Postle Associates. Ore reserve estimation, exploration($50M), and mill/processing upgrades continue. Newmont Corp.Cont’d on pg. 8
