Paige Desmond
Rainy River Resources Ltd., a junior exploration company, spoke to about 20 people at the Emo Inn on Monday night about mining opportunities in the area.
Hosted by the Emo Chamber of Commerce, the presentation served as an update on the company’s progress.
Since 2004, the company has been exploration drilling more than 26,000 hectares in Richardson Township for gold, which has yielded promising results.
“This project is probably one of the best in Canada right now,” enthused Rainy River Resources president Nelson Baker. “We’ve had huge success as we go along here.”
Though still in the exploration stages, the company is optimistic about the possibility of a future full-scale mining operation.
“It’ll eventually be a mineable deposit,” Baker pledged.
Baker described how the potential mine’s proximity to civilization is a unique benefit for future mine employees, who will be able to take their kids to school in the morning, go to work at the mine, and be home to tuck their kids in at night.
At the same time, the roads, power, and other infrastructure already are in place as opposed to other mining sites, which will help move the project along more quickly.
One area of concern raised by those attending the presentation was the possibility of land claims, but the fact the company owns the land privately is another important factor in making this project a go, Baker said.
He also stressed the company’s good relationship with local First Nation communities.
The company’s claim that there are no environmental issues associated with this particular project, coupled with the availability of local skilled labour, combine to define Richardson Township’s potential as “risk averse.”
Highlighting their commitment to the community, Baker said the company buys everything possible locally from businesses such as Tompkins Hardware in Emo and is committed to regular public consultation regarding the project.
Baker and his team hope to define the Richardson Township mine, and other possible locales, as “Canada’s next major gold camp.”
Not only is this area rich in gold, Baker said there also are deposits of other minerals, such as copper. “We’re still learning every day by systematic exploration in this area,” he remarked.
Still, any mining operation is a long way from fruition.
Baker explained a permit is necessary to mine. At the same time, millions of dollars would be needed to build a processing plant on-site.
In the end, it could be eight-10 years before the mine is operational.
“We need the price of gold to stay steady for a profit,” Baker said, referring to the global recession most world economists are forecasting.
“We can sustain a much lower price” than gold currently is trading for on the TSX and still reap a profit,” he added. “It can be mined at a substantial profit.
“We see this as a project that will eventually be developed,” Baker reiterated. “If it goes into production, you could see 500 people minimum employed at the site.”
A mine of this scale could operate for at least 20 years, bringing much-needed jobs to the area, noted Baker.
Some of those on hand Monday night were curious about what will happen after the mine closes.
Saying that stage is a long time from now, Baker explained they are very aware of any environmental impact and envision the dead mine as filling up with water, having a nearby golf course, and eventually becoming a tourist attraction.
“We’re going to do all the environmental studies,” Baker assured the attentive crowd, adding they hope to have all the necessary studies, including a feasibility study for the venture, completed by 2010.
For now, Rainy River Resources Ltd. has about a dozen people working on-site during this exploration stage. But the company is more than optimistic for the future.
“We have every reason to believe that we’ll find other projects in the area,” Baker revealed.
