This article was originally published in the September, 2011 issue of Sudbury Mining Solutions Journal and written by editor Norm Tollinsky.
“If the financiers in downtown Toronto see any kind of risk,
they move on to the next thing. They’re looking at it
[Ring of Fire] and saying ‘We love the Hudson Bay Lowlands
and we think there’s going to be all kinds of things found
in the future, but we don’t know when that’s going to happen,
so our money is going to go to shorter term opportunities.’”
When there is some clarity on the issue of infrastructure,
“everything up there will boom.” (Richard Nemis – 2010 PDAC
Prospector of the Year Co-Winner)
Award winning mining promoter offers new take on the Ring of Fire
Richard Nemis, the Sudbury-born lawyer turned mining promoter, is back in the ring. Down for the count after relinquishing his post as president of Noront Resources in 2008, Nemis is once again poring over maps, knocking on doors and mobilizing drill rigs to the furthest reaches of Ontario’s Far North.
Nemis has reassembled the team credited with the discovery of Noront’s Eagle’s Nest nickel-PGE deposit in the Ring of Fire, launched two new companies, Rencore Resources Ltd. and Bold Ventures Inc., and raised $10 million from Dundee Corporation to test promising geophysical anomalies west of the currently accepted boundaries of the Ring of Fire.
“Our theory is that the Ring of Fire is a lot bigger and goes a lot further,” possibly extending as far as Thomson, Manitoba, said Nemis. The western extension of the Ring of Fire is interrupted by the Winisk River Provincial Park, a no-go area for mineral exploration, but airborne geophysics commissioned by Rencore has identified 16 potential drill targets in the so-called REN-6 and REN-8 claim groups west of the park.