An out-of-production mine near Kenora is being brought back to life and could help fuel Canada’s electric vehicle industry with cobalt and copper.
Global Energy Metals, based out of Vancouver, BC, say they’ve sold the 1,700-hectare Werner Lake copper-cobalt project near the Ontario-Manitoba border to High-Tech Metals Limited of Australia, after they raised $4.7 million AUD to further explore the property.
“The world needs more high-quality cobalt and High-Tech is committed to begin work to realize the potential of the Werner Lake Cobalt Project in a sustainable and responsible manner to ensure strong outcomes for all stakeholders,” said HTM Executive Director, Sonu Cheema.
The Werner Lake cobalt project is said to host numerous cobalt-copper and base metal deposits, both of which are used in the supply chain of electric vehicles.
The area’s seen extensive exploration and development since its discovery in 1921, which continued into the 30s and 40s. The property also boasts existing mill buildings, settling areas and a four-season road, but hasn’t seen any activity since 2018. Marquee Resources was its previous owner.
2022 was a rocky year for major mining activity in northwestern Ontario.
Red Lake’s Pure Gold mine announced it would be stopping all operations in October, 2022 – as the mine wasn’t able to break even. Cash balances sat at $2 million while deficits were estimated to be roughly $13 million.
But the Tartisan Nickel Corporation continued to move forward on its assessment of their Kenbridge Nickel property near Kenora, and Avalon Advanced Materials announced it would be re-opening the Kenora area’s ‘Big Whopper’ lithium deposit after samples were taken in 2021.
Elsewhere, the Goliath Gold project east of Dryden is also taking steps forward - with mining expected to begin between Wabigoon and Sioux Lookout by 2025, if approved.