VANCOUVER — Canada’s gold miners are naturally interested in discovery back home, but the push for more so-called homegrown ounces appears to be on the rise following the recent down cycle, with oft-cited reasons including: geopolitical risk, operational synergies, and favourable infrastructure.
The Northern Miner reviewed exploration reports from three marquee Canadian gold producers to find where these major miners are most active in Canada.
The world’s largest gold producer had its start near Wawa, Ont., but it’s subsequently developed major production centres in Nevada and abroad. Barrick Gold (TSX: ABX; NYSE: ABX) operates the historic Hemlo gold mine 35 km east of Marathon, Ont., however, where it drilled nearly 20,000 metres last year.
The asset consists of the Williams mine and processing facility at the western end of the property, the Golden Giant gold mine in the central area, and the David Bell gold mine at the eastern edge of the property.
The investment materially expanded Hemlo’s reserves to 25.8 million tonnes grading 1.92 grams gold per tonne for nearly 1.6 million contained ounces. Barrick said the mine’s life could be extended through 2026 based on new technical studies, with final reports expected to be completed by year end. The company also established the first geological model for the entire Hemlo deposit in 2016.
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