High gold prices are translating into more exploration for minerals across northwestern Ontario – and not just the metal that glitters. Gold prices are hovering around $2,500 per ounce ($1,900 US), after hitting a record high in July.
“It’s not just gold, but gold, silver and platinum group metals,” said Garry Clark, the executive director of the Ontario Prospectors Association.
“It’s the best thing that can happen for prospectors and explorers, is they can bring money in and get people interested in their properties to move them forward.”
Clark said exploration is on an upswing, after being slowed by COVID-19 restrictions in the spring. Since last fall, there’s been a fairly constant exploration flow, he said.
“It’s been fairly steady right through. A lot of new companies in the area, and a lot of prospectors optioning their properties,” he said, noting that the price is one of the top items to dictate exploration.
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