Because the clear vitality sector continues to drive copper demand, new sources of provide are being more and more sought, and Canadian corporations are main the hunt to search out extra of the steel at residence.
Ontario-based undertaking generator Wealthy Copper Exploration is certainly one of these, and is focussing on initiatives within the northern a part of the province, in addition to on Canada’s east coast. The privately held junior’s holdings embrace seven properties in Ontario and two in New Brunswick, with the bulk within the Algoma district of northern Ontario.
The entire firm’s belongings are situated in areas with previous manufacturing and identified copper occurrences, in addition to current native infrastructure and web site entry, which is able to facilitate their improvement.
The corporate’s curiosity in Algoma stems from intensive analysis into the historic work accomplished within the area, which has hosted copper initiatives for over a century. However as Jim Atkinson, Wealthy Copper’s vice-president, factors out, they’re bringing a brand new perspective to the area’s potential.
“Copper has been uncared for in Ontario in addition to numerous Japanese Canada,” says Atkinson. “Within the rush for gold, all people’s been on the lookout for gold for the final ten years. However we thought we should always have a look at what may be accomplished on the copper facet. And I’ve at all times had a factor in regards to the Algoma space, as a result of there’s a lot of mineralization there and it’s been mined for a very long time, however hasn’t been checked out for some time.”
Atkinson says that the corporate started its analysis into websites in Algoma by sifting by way of archival sources, provincial ministry evaluation reviews and previous maps. What the staff found was plenty of copper occurrences within the area that confirmed diamond drill intersections sturdy sufficient to benefit potential acquisition.
“Folks have to know that this space is the primary place copper was ever mined in Canada,” says Atkinson. “So, in case you’re on the lookout for copper properties, a very good place to begin is by wanting the place it’s been mined earlier than, which is what we’ve accomplished. We up to date the historic data we’ve amassed utilizing extra fashionable expertise to be able to additional assess and transfer these properties ahead.”
Wealthy Copper’s Algoma belongings embrace the Island Copper property, a 62-hectare web site situated about 20 km northeast of Sault Ste. Marie close to the group of Heyden. The positioning was explored virtually 20 years in the past by Falconbridge, which reported a sequence of copper-bearing fault constructions and breccia zones however did no follow-up drilling. Different Ontario belongings embrace the 480-hectare Abbican web site northwest of Blind River, the 200-hectare Christy Lake property south of Elliot Lake, and the Copper Prince property 30 km north of Iron Bridge.
In New Brunswick, Wealthy Copper’s belongings embrace its 530-hectare Dorchester property, a past-producing copper mine situated about 10 km northwest of Sackville and 30 km east of Moncton.
“Our objectives wanting forward are easy: We wish to replace the knowledge on our belongings, put together 43-101s the place we are able to, after which put together to start the itemizing course of to go public,” CEO David McDonald says. “Meaning consolidating our properties into a pleasant bundle that appeals to companions we wish to work with. And we all know that going public will assist that course of. So, we’re working in the direction of being listed by the second half of 2022.”
Each Atkinson and McDonald say that as Covid restrictions are being lifted in Ontario, they’re making ready to go again to Algoma within the months forward.
“I can’t wait to get again within the bush,” says McDonald. “These properties are the tip of the iceberg, in case you ask me. It’s sure that we’ll proceed to develop our properties within the years forward, have interaction with buyers, three way partnership companions and others. We’re completely dedicated to discovering belongings that open a brand new web page within the Canadian copper story.”
The previous Joint Enterprise article is PROMOTED CONTENT sponsored by Wealthy Copper Exploration and produced in cooperation with The Northern Miner. Go to richcopper.ca for extra data.