20 Ont ari O Mining and expl O ra ti O n direct O r y and res O urce guide 20 20 Hemlo back in 1944 b y P eter Moses an Ojib w a y pr ospec tor fr om Mar a thon nothing to ok place until 1980 when the 76th drill hole hit a r esour ce tha t star ted a major st aking r ush in the im media te ar ea In 1981 C or ona Resour ces a t the time w as tr ading ar ound 110 based on r umours coming out of the camp tha t something big w as happening By Ma y 1983 C or ona w as tr ading a t 6100 a 5445 per cent r eturn Not to b e out done the other tw o majors in the camp G olia th G old mo v ed fr om 045 to 32 7110 per cent and G olden Sceptr e tr ad ed fr om 040 to 31 7650 per cent By Mar ch 1983 gold had topped out near 500 and the Hemlo Rally w as o v er But the Hemlo G old C amp w as just getting star ted Nor anda spent o v er 250 million building the frst f acilit y f ollo w ed b y other companies and pr o duc t ion b egan in 1985 Hemlo b ecame the most signifcant mine fnd in the w estern hemispher e The D a vid Bell and G olden Giant Mines w er e among the lo w est cost gold mines in the w orld a t the time Her e is wha t is inter esting a b out the Hemlo G old C amp its lik e the Energizer Bunn y it just k eeps going The centr al G olden Giant mine w as closed in Janu ary 2006 and the D a vid Bell and Wil liams mines scheduled to close in 2009 and 2011 r espec tiv ely F ast f orw ard to the pr esent and no w w e fnd Barrick announcing the pr ob a bilit y of the mine continuing to 2028 and possibly 2035 F or w ea ther equipment tha t w orks as har d as y ou do PO BO X 900 326 Main S tr eet Ignac e ON P0T 1T0 80 7 9 34840 3 w w w signalw ea ther ca W er e serious about the w ea ther WERE MORE THAN JUST RIGGING AND WIRE ROPE slingchoker com But tha t w as not the case in 2011 when it w as thought tha t the Williams Mine might close in 2014 In 2013 Barrick G old announced tha t another 1000000 ounces w as disco v er ed and the mine pr o duc tion w ould e xtend to 2018 T ashota management then mo v ed to acquir e claims adjacent to Barricks open pit Wh y b other pur chasing claims nearb y if the mine w as pr oba bly going to close in f our y ears The r ealit y is Hemlo has ne v er con sistently b een e xplor ed since the 1980s outside of the imm edia te comf or t ar ea wher e the original disco v ery to ok place Her e is the pr oblem a t Hem lo appr o xima tely 90 per cent of the 22000000 ounces of gold e x tr ac ted fr om the thr ee mines until r ecently w as b elo w 500 metr es This anom a ly scar es m ost juniors a w a y fr om the ar ea but this doesn t mean the gold is not ther e Its outside the comf or t zone y es but w ell within r each of mo dern mining technology Barricks management r ealized this in 2013 and the r esult is the pr esent ad ministr a tion a t Barrick intends to mak e Hemlo a Tier 2 mine oper a ting a t 215 to 300 k oz and gener a te a 20 per cent IRR By 2015 management a t T ashota mo v ed to acquir e mor e claims adjacent and close to Barricks Williams Mine accumula ting o v er 18000 acr es mainly adjacent to Barrick A major airb orne T D em perf ormed in 2014 and 2016 co v er ed the entir e T el 7055602739 24 Hour Ser vice Hea vy e quipmen T Ren T al S Sale S and Se R vice Scissorlifts Knucklebooms Forklifts m ining e quipment a erial Booms m ini e xcavators SkidSteer l oaders T R ade S pe RS on Suppl y Welde RS m ec H anic S Tilt l oad Ser vice e quipment T raining e mail gmegmesca 2755 l asalle Blvd Sudbur y on p 3 a 4R7 www gmesca