Since 1915, the Northern Miner weekly newspaper has chronicled Canada’s globally significant mining sector.
As a rookie scuba diver and recent explorer of Australia’s Great Barrier Reef, James Gill, 40, is already dreaming of looking for hidden treasures in shipwrecks deep beneath the Caribbean.
But even if the president of Aur Resources (TSE) fulfills that ambition, it is unlikely he will find anything to rival the gem of a massive sulphide deposit his company uncovered on a group of waterlogged mining claims east of Val d’Or, Que., earlier this year.
The Louvicourt Twp. discovery is already regarded as the largest of its kind since the Texas Gulf find near Timmins, Ont., in 1964 and its impact will probably be felt well into the 21st century. 0000,1000 It has made Gill a household name in mining circles and The Northern Miner’s choice as Mining Man of the Year.
The significance of the Louvicourt Twp. discovery on claims owned by Aur and Societe Miniere Louvem (TSE) was immediately indicated by the trading activity that followed its announcement and the decision by three of North America’s biggest resource companies to invest in the Val d’Or partners. Teck Corp. (TSE) and Cominco Ltd. (TSE) now have 21% of Aur. Noranda Inc. (TSE), with an option to take control, has a 14% stake in Louvem.