Exploring success

High demand for commodities have created an exploration boom in this area, and contributes a quarter of a billion dollars every year in Northwestern Ontario, says the Ontario Prospectors Association’s executive director.

Nearly 500 participants packed the Valhalla Inn for the Northwestern Ontario Mines and Minerals Symposium Tuesday morning. More than 80 booths showcased the mining industry from prospecting to supplies.

But the real attraction was the various exploration projects.

Garry Clark, executive director of the Ontario Prospectors Association, said there’s a high volume of activity in the Northwest because of the number of explorations taking place. The increasing demand for commodities is the sole reason for the increased activity and interest.

"It’s an exploration boom," Clark said. "Exploration spends a quarter of a billion dollars a year in Northwestern Ontario and that leads to mines, and mines end up with long-term employment. As long as the commodity prices stay high, exploration will continue to expand."

The Ring of Fire development is a key example of how exploration can lead to great prosperity, he said.

"I think we have more room to grow," he said. We’re finding deposits in Northwestern Ontario that weren’t really looked at in the past and there’s always something new to be found."

Evan Asseistine, chief financial officer with Thunder Bay-based Benton Resources Corp., said the company is active in Northwestern Ontario and Newfoundland and Labrador as well as a drilling operation on Lake Shebandowan.

He said the company tries to use local supplies and contractors to support the area’s economy.

"We’re part of this boom," Asseistine said. "We feel it is important to work locally. We do as much as we can in town. I think it’s great for the area. It’s certainly going to be a catalyst for the economy locally.”