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Mineral Exploration in Nunavut
Abstract
Nunavut’s mineral potential is substantial, which is why large and small companies are investing millions of dollars for prospecting and exploration in the volcanic and metamorphic rock of the Canadian Shield, particularly for gold, and more recently diamonds. This map locates the main exploration sites in 1998.
The start-up of a mine is a lengthy and laborious process which is always preceded by a number of stages, including exploration, of course. There are various levels of exploration, comprising initial exploration (from the earliest drilling to discovery of the ore), more thorough exploration (second drilling program and evaluation of the ore reserves present) and finally advanced exploration (preliminary market study, operating costs, production costs and so on). Each of these stages has as its precondition the results obtained in the preceding analyses, with the feasibility studies being the most advanced exploration phases, just before the development stage.
Nunavut is seen as a favourable region for investment in mineral exploration. Within Nunavut are a number of projects which have completed the very expensive second drilling phase. The mining industry must therefore be perceived as a new industry in Nunavut, with promising assessments for the exploitation of certain minerals, such as gold and diamonds, in the volcanic and metamorphic rocks of the Canadian Shield.
