THE CANADIAN GOLD RUSH
By: Evan Lucyk
Since Bit Service loves to keep you informed on all the latest news in the mining industry, especially regarding what is happening in our neck of the woods, we are thrilled to share the news of how one hot commodity is really putting Canada on the map (again!).
Reminiscent of the California Gold Rush in America, which ran from 1848 to 1855 and saw a flood of workers and other fortune seekers flock to the state in hopes of striking it rich, we are now experiencing a similar surge of interest in our nation’s gold deposits.
The reason for this resurgence of interest in gold exploration in Canada? The extremely high gold commodity prices right now. Since the cost for this prized commodity is currently so high, it makes it possible to reactivate previously explored mining properties, an endeavor that just wasn’t deemed feasible up until now.
STARR PEAK MINING’S IMPRESSIVE DRILLING PROGRAM
This is excellent news for our nation, with some even dubbing this next chapter as the possible “second gold rush,” following the first Canadian Klondike Gold Rush between 1896 and 1899 that put us on the map. Ironically, some of the buzz for this next phase is taking place on the eastern half of the country, with the initial catalyst being a windfall discovery at depth (and not just of gold) by Canada’s Starr Peak Mining Ltd.
While this first announcement created a lot of buzz, it was the most recent and second one from the company that has sent those in the industry into a near frenzy. Starr Peak has announced more in-depth details about its high-grade results from its ongoing 2021 drilling campaign, which is now fully funded and includes an impressive drilling program from 20,000 meters to 40,000 meters.
CARTIER RESOURCES AND ITS BENOIST PROJECT
Another successful Canadian mining venture is located in the Antibi Greenstone Belt, the heart of the gold mining region of Quebec. The Benoist Project dates back to 1935 when prospectors discovered mineralized boulders on the shores of Pusticamica Lake. Since being discovered, 36,000 meters of exploration drilling have exposed a gold deposit. And in 2020, modern exploration techniques helped uncover 234,000 ounces of gold.
According to Visual Capitalist, “Cartier Resources is deploying the latest in mineral exploration innovation, OreVision-IP,” which will help them discover “the next group of Pusticamica deposit-type targets.” Cartier Resources is planning 30,000 metres of drilling in 2021, during the company’s next stage of gold discovery at Benoist.
While this is all amazing news and provides a great sense of excitement and anticipation, it also means there is a lot of work to do, and we are just beginning. As things progress, we look forward to keeping you posted. And as always, we are here to help you stay current and travel alongside you as you navigate the ever-changing landscape of all things mining.