Northern Canada emerging as a new gold mining and exploration hotspot – by Vladimir Basov (Kitco News – November 10, 2020)

According to Wikipedia, “Northern Canada, colloquially the North, is the vast northernmost region of Canada variously defined by geography and politics. Politically, the term refers to three territories of Canada: Yukon, Northwest Territories (NWT), and Nunavut.”

With a total population estimate of 126,566 as of Q3 2020, the North already producing approximately 27 times more gold per capita than, for example, Ontario, the largest gold producing province or territory in Canada.

Nunavut is third largest Canadian gold producing province / territory with 465 koz of gold mined in 2019 and Yukon is eight with 84 koz. The North is a home to the great Klondike Gold Rush from the late 1800s that engulfed the Yukon Territory.

There is currently another gold rush taking place in Northern Canada. Today, it’s happening once again at a larger scale as both gold majors and juniors proactively staking their claims in the North.

This should not come as a surprise as the North consists of politically attractive, mining friendly and stable jurisdictions with enormous geological potential. The North has the potential to be a strategic mining and exploration hub for many gold miners, developers and juniors, with the ability to generate strong gold production and cash flows for many decades to come.

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