Feeling bullish

The prospect of a gold mine operation in Richardson Township, north of Barwick, remains bright after Rainy River Resources announced positive results from its latest Preliminary Economic Assessment of the gold resource at the site.
Coming on the heels of news earlier this month that Coventry Resources is moving ahead with a PEA at its Cameron Gold Project, southeast of Sioux Narrows, which will determine whether a mine goes ahead there, and coupled with continued progress at Osisko’s Hammond Reef Gold Project near Atikokan, there’s certainly reason to feel bullish about the economic future for our corner of Northwestern Ontario.
In fact, the extensive drilling programs at these sites, and others, already have produced jobs and spin-off benefits—with the promise of much more to follow should everything come to pass as planned.
Nothing is set in stone, of course. Mining is a cyclical industry, with Rainy River Resources’ executives conceding there’s always a risk circumstances can change. As well, its Richardson Township project only shows an anticipated mine life of 13-and-a-half years at present, although the company is vowing to keep drilling in an effort to extend it—a distinct possibility given what’s been discovered already.
Furthermore, the infrastructure needed to support the operation is mostly already in place and the location of the site indicates a lesser impact on the environment. A readily-available trained workforce, and an established relationship with local First Nations (which hasn’t been the case in the so-called “Ring of Fire” area of Northeastern Ontario), also are positive signs.
Confidence, both among individuals and businesses, is key to escaping these bleak economic times. That starts with a ray of hope—and our potential mining boom offers just that.