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More gold eyed in vicinity of Hemlo mine camp
BY CARL CLUTCHEY
THE CHRONICLE-JOURNAL
Feb 14, 2026
Feb 14, 2026
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As the price of gold remains at dizzying heights, the new company overseeing the renowned Hemlo gold camp near Marathon is setting the stage to ramp-up exploration in and around the site.Hemlo Mining Corp. announced on Thursday it has bought back a 1.5-per cent royalty interest from the adjacent David Bell gold-mine property, which ceased production in 2014.The move effectively "consolidates (Hemlo Mining's) interest over the Hemlo land package," the company said in a news release."Our 2026 exploration program is designed to unlock new mineralization across the broader Hemlo land package, including in the vicinity of the past-producing David Bell Mine," Hemlo Mining president Jason Kosec said in the release."By targeting areas proximal to existing infrastructure, we aim to efficiently convert exploration success into extended mine life, enhanced production profiles, and improved long-term economics," Kosec added.
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The David Bell property, which is located on the eastern section of the Hemlo site, exhibits "gold mineralization hosted primarily within strongly altered volcano-sedimentary and fragmented rocks," the company said.The company termed it a "classic Hemlo-style gold system."Meanwhile on Thursday, the price of gold remained in the range of US $5,000 per ounce. About 30 years ago, when the Hemlo camp contained three active gold mines, the precious metal was valued at $300 per ounce.Hemlo Mining Corp. obtained the Hemlo property last year from Canadian mining giant Barrick Gold under an arrangement valued at US $1.1 billion.Since the Hemlo camp went into production in the mid-1980s, it has produced about 25 million ounces of gold, Hemlo Mining said in a backgrounder.
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Primary Sector Of The Economy
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