Nov 29, 2019
Thunder Bay Rich Potential for Mining Activity
< 1 MIN READ
Exploration and Mining
Canada is one of the top global destinations for exploration, and mining and Thunder Bay is the gateway to Northwestern Ontario and all of its resource potential. Northwestern Ontario is a strong contributor to Canada’s gold mining industry, producing 19% of Canada’s gold in 2018 (1.05 million ounces)! With 4 new gold mines being developed in the next 5 years, that percentage will grow. It is forecast that Northwestern Ontario will produce 1.6 million ounces of gold by 2023.
The region produces 237,000 ounces of palladium at the North American Palladium owned Lac des Iles Mine (mainly for clean air applications in autocatalysts). In addition a number of major exploration projects are advancing for a variety of commodities, including gold, lithium, cobalt, zinc, copper, chromite and graphite.
In the Ring of Fire, mineral exploration is led by Noront Resources in the McFauld’s Lake area (north of the chromite deposits). Noront drill intersected zinc mineralization of ore grade and thickness.
Marten Falls First Nation has hired AECOM to conduct technical studies feeding an environmental assessment process for a future all season road from Greenstone to Marten Fall FN. In the future, the all-season road to the community also has the potential to be extended to the Ring of Fire so that Marten Falls First Nation, and other surrounding communities, can participate in and benefit from natural resources development.
In addition, Webequie First Nation has engaged consultants to start the process of road planning for a Webequie to Ring of Fire deposits road.
The mineral resource in the Ring of Fire exceeds 300 million tonnes of ore grade chromite. Chromite is typically smelted to ferrochrome, a key ingredient in stainless steel production.
SAMSSA Acknowledges The Mining Potential in North Western Ontario