Canadian gold reserves — the gold content of proven and probable ore in all operating mines and deposits committed for production — have doubled since 1981 according to Energy, Mines and Resources, Canada.
Reserves in the ground stand at about 1,500 tonnes of which at least 1,200 tonnes are recoverable, equivalent to more than 10 times 1987 production, says Andre Lemieux in a special report. Ore extensions not yet reliably established might easily double current reserves.
Ontario alone accounts for more than 60% of the gold recoverable from Canadian reserves, and Quebec for about 15%. No other province or territory exceeds 6%.
Gold mines — mines where gold is the main product — and deposits committed to be developed into gold mines — account for almost 90% of the recoverable gold. The rest is recoverable as byproduct from other metal mines. Large reserves in only a few gold deposits dominate the total picture.
Of the total gold recoverable, about 60% is in the six largest mines. These are from Ontario: Page-Williams, Golden Giant, Campbell, David Bell, Detour Lake and the Doyon from Quebec.
Reserves of gold will no doubt continue to grow rapidly because of the dozens of new gold deposits discovered in recent years. More than 100 known gold deposits can currently be considered promising for future development into mines. In contrast to the seven gold deposits committed for production as at January, 1987, there were more than 30 in January, 1988.
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