The Sudbury Basin: Ontario’s trillion dollar mining camp Last month, I had the pleasure of participating in the 16th Annual Sudbury Mining Week -
It was appropriate to celebrate Mining Week in Canada, and especially in Sudbury –
one of the most prolific mining camps in the world. In Canada, mining contributes $40 billion dollars or 5 per cent of Canada’s GDP every year and pays $4.7 billion in corporate taxes alone. This industry directly employs 370,000 Canadians and is the largest private sector employer of Aboriginals. Canada remains the leading source of new capital for the global mining industry accounting for 36 per cent of the $53 billion raised in 2007 or net $19 billion.
As a mining engineer who has spent his career in Africa, the United Sates and Latin America, I can confirm that there are few places in the world where mining is embraced and supported as it is in Sudbury.
However, even in Sudbury, it is important that the mining industry support events such as Mining Week to communicate with local communities and, perhaps, persuade some young people to consider this industry as a future career choice.
The Sudbury area is a 1.85 billion year old meteorite impact crater and the first mineral discoveries were made here in 1883. Let me give you a few numbers about;
Sudbury which may surprise even local residents.
The total ore mined to date in Sudbury is approximately 1.7 billion tonnes with 40 billion pounds of nickel, 36 billion pounds of copper, 70 million ounces of platinum, palladium and gold and 283 million ounces of silver recovered.
At today’s commodity prices, total historic production and current known reserves in Sudbury represent a one trillion dollar value.
The community is the richest mining district in North America and among the top ten most important globally. Sudbury accounts for about half the mining activity in Ontario, Canada’s largest mineral producing province. The value of Ontario’s mining sector is about $10 billion annually (2007 figures).
I think these numbers give you some idea of what an incredible mining area Sudbury is and the impact it has had on the wealth, not only of the City of Greater Sudbury, but of Ontario and Canada.
In addition to exploration for gold at
The Golden Rose Gold Mine project site,
Click on image and find The Golden Rose Gold Mine - with shallow mining I see it as virgin -
Conquest said two other styles of economic mineral deposits have been identified within the enlarged Sudbury land package....
Golden Rose Mine- Contains a reserve 2.4 million tonnes at 0.26 ounces of gold a tonne that contains 619,000 ounces of gold. 10/5/20160 Comments
Mining Companies Flock To Stake Claims In Red Lake After Recent Gold Strikes In That Area Conquest's Alexander Property comprises 27 patented claims acres adjoining Goldcorp's Red Lake mine.
Alexander Gold Project Red Lake, Ontario is claimed by Goldcorp to be the richest gold mine in the world
The Alexander Property is situated within 2 kilometres of more than 28 million ounces of gold from past production and current resources and within 400 metres of Goldcorp’s Far East Zone gold discovery.
The Alexander Property is of ample size to accommodate a high-grade gold deposit at depth as repetition of the adjacent deposits at Goldcorp’s Red Lake gold mine.
The stratigraphy under the property remains essentially untested below 700 metres depth.
The richest gold bearing ore zones exist below a vertical depth of 1,300 metres in the High Grade Zone at the Goldcorp Red Lake gold mine which is less than 800 metres from the property boundary.
Conquest's target on the Alexander claims is an extension, or repetition, of the mineralization at the Red Lake mine.
The Red Lake mine is claimed by Goldcorp to be the richest gold mine in the world with approximately 28,000,000 ounces of historic production and current reserves.
Location and Property Description Conquest's Alexander Property comprises 27 patented claims covering 448 hectares (1,107 acres) adjoining Goldcorp's Red Lake mine.
Conquest’s land is situated just beyond the security gate at Goldcorp’s Red Lake gold mine and is almost completely surrounded by Goldcorp's Red Lake mine property.
The Alexander claim holdings are patented and do not require any annual minimum expenditures, other than nominal property taxes.
The chart attached is a forecast for gold based upon that technique.
The data suggests that this current rally could easily surpass $2000 per ounce, and is most likely to reach $2100 or higher by the conclusion of this rally.
Gold & Silver bulls starting to break out > ^ > ^ > ^