Area Play: The Val d’Or, Quebec Camp in Canada is Heating Up – by David Erfle (Kitco News – July 12, 2019)

Full Disclosure: I have purchased shares of ECR.V and BTR.V in the open market and have also recommended them both to my subscribers.

In the early 20th century, the discovery of the Cadillac Fault ushered in the Abitibi-Témiscamingue Gold Rush and the geological anomaly continues to have a major impact on Quebec’s mining history.

The massive fault is roughly 160 kilometers long and extends from the town of Val d’Or, in Quebec, to Kirkland Lake, in Ontario. Its name derives from the township of Cadillac, where it was first discovered.

Although its name in French means “valley of gold,” there is no valley in Val d’Or, however, there is still plenty of gold remaining in the surrounding area. The town of roughly 32,000 inhabitants was founded by miners in 1934 and its economy depends chiefly on mining gold, zinc, lead, molybdenum, and copper. The lumber business is also important to the economy of Val-d’Or, as the forests of the Abitibi region provide 65% of the lumber produced in Québec.

Even after a century-long history of mining over one hundred million ounces of gold, the Cadillac Break is far from being depleted. In fact, Quebec’s entire Abitibi region has been experiencing a revival in exploration, development, and production activity since the secular gold bull market began at the turn of the century.

In a recent Northern Miner article, Claude Potvin, a spokesperson for Quebec’s Ministry of Natural Resources and Energy, said mining is a government priority. “Quebec was recently named [by the Fraser Institute] as the world’s fourth best mining jurisdiction,” Potvin said in a phone interview. “We want to make it number one.” Potvin would not commit to a specific date, but said that new measures could be announced later this year.

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