Exploration activity continues.

• Author: WALCHUK, KEVIN
• Position: Brief Article - Statistical Data Included

Driven primarily by senior mining companies

Strong base metal prices, an active junior mining play and a renewed commitment towards exploration by many of the area's mining companies are keeping mining interest alive in the Timmins region.

Recent developments in the area include the large exploration project recently undertaken by Davidson Tisdale Ltd. The Waterloo, Ont.-based mining junior is set to begin advanced drilling on a 576-hectare parcel of property it hopes will provide Timmins newest gold mine (see page SB).

While Davidson Tisdale represents the area's most advanced prospect for a new gold mine, other established gold mining interests are increasing exploration activity within the region to extend the life of existing operations.

Placer Dome is looking extensively within a 40-kilometre zone around Timmins for new finds, while Falconbridge Ltd. announced in early July that it was going to extend the life of its Kidd Creek mine by investing $640 million into a deep mine project. The development is expected to extend the mine's production life by at least 20 more years.

Northwest of the city, Calgary-based Agrium Inc. opened Canada's first phosphate mine in Kapuskasing in September. The company invested more than $70 million (US) in the project.

The expenditure includes a processing mill and road and rail access. The company says the mine has proven resources of 22 million tonnes, or roughly 20...