In just the last few years, our neighbors to the north have quietly revitalized and transformed a once forgotten area into a full-blown world-class gold mining region.
This has created a modern day renaissance in Canada’s mining industry and put their mineral resources back on the map.
The region I’m referring to is part of a massive geologic occurrence called an Archaen Greenstone Belt. This belt stretches from Alaska all the way to Greenland and straddles the eastern provinces of Ontario and Quebec.
Greenstone belts are prime hunting grounds for a wealth of minerals including gold, silver, copper, and zinc.
For example, the South African Barberton greenstone belt has been host to more than a century of continuous gold production. Likewise, the South Pass greenstone belt in Wyoming, initially discovered back in 1842, has been a producer for over 150 years.
Meanwhile, Canada’s massive Archaen Belt — aptly named the “Canadian Shield” – contains a number of sub-districts that hold several multi-million ounce deposits. Most of the gold ever produced in Canada comes from these world-class discoveries.
But within the Canadian Shield, one region is generating more “buzz” than any other. It’s quickly resurrecting itself as a key player in the industry and it’s looking to reclaim its title as the most prolific producer in the nation.
It’s called the Abitibi Gold Belt.
Canada’s Golden Riches
The Abitibi is a huge swath of land that stretches across much of the nation’s two largest provinces, Ontario and Quebec.
This famed gold belt hosts several blockbuster mines, and was once known for high-grade bonanza gold discoveries. In fact, a few decades back it was considered the “gold district among gold districts” – the crème of the crop.
But then the gold market went cold and exploration dollars dried up.
Aside from the gold mines already in production, the general consensus was that all the large deposits had been found. Subsequently, investment in the region stagnated.
Yet in only in the last few years this area has experienced a 180-degree reversal.
The Abitibi Gold Belt is once again turning into one of the hottest gold districts in the world.
You see in recent years, scientists and geologists are going back to the biggest and best of the old discoveries with new approaches and techniques.
They’re looking much deeper than ever before and they’re using modern technology to see if more metals are available for economic extraction.
It’s very similar to advanced recovery techniques used in the oil patch.
Companies can “work-over” old deposits to maximize its potential and, if they’re lucky, find “new” gold altogether.
And that’s what’s happening as we speak in the massive Abitibi Gold Belt. Thanks to recent technological advancements the Abitibi is red-hot once again.
Investment dollars in the area have exploded from a multi-year plateau, to setting new records.
And already, this new flood of investment is paying dividends…
After bottoming out in 2004 at 27.7 million ounces, Canadian ore reserves have increased every year.
According to Natural Resources Canada, “Increased exploration spending has increased the reserves and resources associated with existing and new deposits and older mining camps.”
And because of its excellent infrastructure, safety, low development costs, and great history of high-grade gold discoveries, the Abitibi area is attracting savvy exploration companies by the boatload.
Getting Rich From The Abitibi
Within the last few years there has been an influx of new players to the region and many of them are finding success.
What’s great is that the presence of previous research minimizes the risk associated with seeking out new targets while greatly increasing the likelihood of building resources or striking new gold.
The formula is working wonders and a herd of companies are stampeding in to claim their share of the pie.
I’ve had my eye on this play for quite some time.
In fact, I’m putting the finishing touches on a special report that identifies two amazing prospects in the Abitibi region.
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