Issue link: http://resourceworld.uberflip.com/i/1152269
A U G U S T / S E P T E M B E R 2 0 1 9 www.resourceworld.com 7 Editor's Comments Ellsworth Dickson Ellsworth Dickson, Editor-in-Chief Email: editor@resourceworld.com T: 604 484 3800 | 1 877 484 3800 B ack in the late 1960s, one of my first jobs was working in the geology department of the Teck Resources Ltd. [TECK.B-TSX; TECK-NYSE] Silverfields silver-cobalt mine near the town of Cobalt, northeast Ontario. The one thing that sticks in my memory is the tremendous amount of silver and cobalt the old timers left behind. Under Teck leadership and my immediate superior, the late Hugh Moore, starting in 1962 Teck's ongoing exploration programs at the former failed "mine" discovered at least 15 high-grade vein systems. The fairly shallow shaft sunk by the old timers in the 1930s missed a fortune in silver by not digging deeper into the ancient, buried valley of Huronian Cobalt Conglomerate where the many parallel veins were just waiting for discovery. By the time economic ore ran out in June 1983, Silverfields had produced about 20 million ounces of silver. Here, at Resource World, I see the same thing happening today in other old mining jurisdictions. The Barkerville gold rush in the Cariboo region of British Columbia during the 1860s was sparked by Billy Barker who took out a great deal of placer gold that was sitting on bedrock, estimated to be worth millions today. Eventually, more money poured into the Barkerville camp and hardrock underground mining took place. Gold prices rose and fell, companies came and went and Barkerville became a virtual ghost town until the BC government restored the town that has become a major tourist attraction. It will never be known exactly how much gold was recovered by placer and underground miners as many did not disclose their winnings; however, Barkerville Gold Mines Ltd. [BGM-TSXV; BGMZF-OTC; IWUB-FSE] esti - mates about 4.5 million ounces were recovered. Barkerville Gold has been mining and exploring their large land package that keeps delivering really great drill results. A few highlights include 10.76 g/t gold over 20.0 metres; 19.3 g/t over 6.3 metres; 19.34 g/t over 17.9 metres; and 7.75 g/t gold over 46.0 metres. There are many more results like these. Refer to David Duval's report on page 40 for more information. In northwest Ontario, the Red Lake gold mine, owned and oper - ated by Newmont Goldcorp Corp. [NGT-TSX; NEM-NYSE], is one of the richest gold mines in the world. It has produced over 29 million ounces of gold since 1949. Red Lake Gold Mines includes the Red Lake and Campbell underground mining and processing complexes, and Cochenour, a potential new source of ore. Currently, several exploration companies are having success in outlining more significant gold mineralization at Red Lake. These include Great Bear Resources Ltd. [GBR-TSXV; GTBDF-OTC], Pure Gold Mining Inc. [PGM-TSXV; LRTNF-OTC] and Premier Gold Mines Ltd. [PG-TSX]. In northern Québec, new gold continues to be discovered at Val d'Or where gold was discovered in 1923. The name of the town is French for "Valley of Gold" which is not an exaggeration. Val d'Or's proximity to the Abitibi gold belt has made it a large gold producer, being part of a region that produced 45 million ounces of gold since the 1930s. Actually, the Abitibi gold belt extends across the Ontario border into the Timmins Gold Camp that is also seeing new gold discoveries. In the Val d'Or area, Eldorado Gold Corp. [ELD-TSX; EGO- NYSE] recently opened its Lamaque Mine that we covered in Resource World's last issue. Agnico Eagle Mines Ltd. [AEM- TSX, NYSE] operates several gold mines in the Val d'Or region: Canadian Malartic (Yamana Gold 50%), Goldex, LaRonde and LaRonde Zone 5. The old timers left behind a fortune The rich Mucho Oro gold mine at Stout's Gulch in the Barkerville Gold Camp, Cariboo region, British Columbia. The old mine is on the claims of Barkerville Gold Mines. Photo courtesy Vancouver Public Library. EDITORIAL: continued on page 68