THUNDER BAY -- Prospectors and exploration companies from the mining industry gathered once again for the annual Prospectors Exploration Showcase, but this year is unlike any other.
With the first convention held in Thunder Bay 100 years ago Tuesday, this centennial milestone is being celebrated with the Canadian mining sector that's on the rise.
A total of 86 exhibitors showcased their projects and services, in hopes to network with other companies and foster new opportunities.
According to the Ontario Prospectors Association, there are currently more than 207,000 active mining projects in Ontario and over 150 companies exploring them as we speak.
In fact, with the steady price of gold and other metals such as lithium and graphite on the rise, the exploration side of the Canadian mining sector is steadily growing.
While the focus will never shift away from gold, executive director Garry Clark said this year, companies are directing their energy to find greener products such as cobalt.
"What's happening is, because of the lithium battery and going to cars that are electric cars. Everyone is working on going to the battery, the green energy, trying to build more batteries and better batteries,” Clark said.
“Some of the components for that are cobalt, lithium and graphite. And we have lots of lithium, cobalt and graphite in Ontario and people are moving to Ontario to look for it, which is good for the province."
However, despite that growth, companies are still looking for some confirmation from the Ontario Government on the issue of transportation routes.
Currently many operating mines and advanced projects are in remote areas and most are only accessible by air.
Therefore increasing their operation costs and causing a road block on their current exploration projects.
Wabassi Resources managing director Richard Sutcliffe said drilling costs can run as high as 400 a metre or more.
“If we can get, because of all the air support, everything has to be moved by helicopter and planes. If we can get roads in there, that cost comes down enormously, just to a fraction,” Sutcliffe said.
“Much more exploration can happen and from that leads to mine development and of course we need the roads, to develop the mines we really need the roads.”
While this three-day event is expected to bring hundreds of industry collaborators, many exploration companies like Noront are hoping to hear from the Provincial government on infrastructure developments sometime this year.
(TBT News)
