Tuesday, July 21, 2009

Exploration Busy in Rainy River District

Mineral exploration in northwestern Ontario is booming despite the recession.

The Ministry of Northern Development, Mines and Forestry says more than 65 companies are involved in activities in the Kenora and Rainy River district.

District Geologist Craig Ravenous says high commodity prices are helping these companies remain active.

"As long as commodity prices remain elevated and fairly high such as gold flirting with the $1,000 range," says Ravenous, "this increase and high commodity prices will attract investors to invest in the exploration programs."

Ravenous says the activity is at its highest level since the mid 1980's.

In the Rainy River district, companies have focused their attention on properties in the Emo and Mine Centre areas in particular.

Ravenous says a variety of minerals are being sought.

"If you go to the west of Fort Frances, northwest of Emo, there's gold exploration going on. If you go east of Fort Frances, they're looking at gold historically in the Mine Centre area. South and west of Mine Centre they're looking at the the iron, titanium and palladium potential."

Ravenous says some companies are also looking at the potential of base metals and diamonds.