Welcome to Newfoundland.Gold! As they say timing is everything and the alliance was founded to bring awareness to a rapidly emerging gold district….just as things were about to hit overdrive. The island of Newfoundland, part of the province of Newfoundland & Labrador, is experiencing the most exciting gold rush in the world yet the question we get asked the most is….If Newfoundland is such a great gold camp why now, why not decades ago? Mind you they ask these questions while companies like New Found Gold Corp (NFG-TSXV) are putting out some of the most incredible modern day drill results.
I’ll fill you in one Newfoundland’s history and how it impacts the most exciting gold story in the world right now. For decades, the Reid Family held most of the land tenure and owned a significant portion of all mineral rights in order as the result of an agreement to build the railway across Newfoundland (Newfoundland Bonus #1….infrastructure). They weren’t in the mining business at the time so little or no exploration work was done and mineral title returned to the government in 1970’s and 1980’s. The Government had the foresight to invest in regional sampling and mapping programs which laid a solid foundation for further exploration. Gold exploration didn’t begin in earnest until the 1980’s when Noranda arrived focused mostly on base metals, explored, sampled, drilled and moved on. Things slowed down fast after the initial first round of shallow drilling when flow-through, a tax advantaged funding tool for Canadian resource investors, was cancelled then Rubicon and a few other small exploration companies arrived and did a bit more work to establish some baseline, but never any deep drilling before another slow down in the mining cycle before gold fell below $400/ou. Grassroots exploration for gold in Newfoundland slowed way down…..
Then a few years ago along came New Found Gold, Denis Laviolette and Shawn Ryan each with new scientific technology, expanded geological understanding, different perspectives, similar theories and voila ‘a staking rush accompanied by significant discovery’. Now mix modern day science with a provincial government invested in building a mining sector (Newfoundland Bonus #2: progressive government), a famous visionary Canadian investor (Newfoundland Bonus #3 – investor Eric Sprott) and a fabulous and skilled population (Newfoundland Bonus #4 – the people of Newfoundland Labrador) which have experienced hard economic times that saw them leave home to work in mines around the world. You now have the makings of a jurisdiction poised to become a major gold exploration and mining jurisdiction. All of this in a first world country in need a private sector economy and business revenue….and you ask Why Newfoundland, Why Now? I say Yes Newfoundland and Yes Now. We all get to be part of the greatest gold exploration story in the world, a once in a lifetime experience to quote Shawn Ryan.