(Kitco News) - The consolidation of the Chibougamau gold camp has the potential to be a game-changer, according to Simon Marcotte, President and CEO of Northern Superior Resources.
Marcotte sat down with Kitco Mining at Xplor 2024 in Montreal. “It’s not a new idea,” he said. “It makes sense. If you consolidate all of these deposits and you put them under one roof, one company, one joint venture, whatever the structure, and then you design an operation feeding the same mill, then you increase the value.”
Marcotte said Chibougamau is an emerging camp, and it’s growing very rapidly, even as the consolidation of ownership has progressed. “If you go back just 25, 26 months ago, there were a total of six different companies involved in the camp owning all of these deposits,” he said. “So we took a leadership role, and fast forward to today, there's only two companies, us and IAMGOLD, which own most of the relevant assets in the area.”
Northern Superior also formed ONGold Resources, a spinoff that is advancing the massive TPK project in Ontario. Marcotte said the project’s potential necessitated its own dedicated company structure.
“The TPK asset in Ontario really did not deserve to be on the back burner,” he said. “It deserved to have its own capital and its own team so that it could focus on it, with a bit of a different approach too. TPK is a quasi-famous project, the largest gold in till anomaly in North America, and potentially the world, so it's about finding the source of that [gold deposit]. A drill hole that came out of that before, 25 meters of 13 grams, that's starting to look like a big rock to me.”
“This is a very exciting project,” Marcotte added. “There's literally a cult of followers on that, because it's a massive discovery in the making.”
Coverage of Xplor 2024 was sponsored by Radisson Mining Resources.
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