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A Gold(en) Mining Opportunity for Minnesota

Did you know Minnesota has promising potential as gold-mining state?

Much of the current conversation regarding mining in Minnesota revolves around the potential for developing the copper and nickel resources in northern Minnesota. However, parts of northern Minnesota share many of the same geologic characteristics as some of the most productive gold-mining regions in Canada, suggesting there may be promising potential for gold mining in the Land of 10,000 Lakes.

The green shaded areas in the map below represent a group of rocks that have high incidences of gold deposits. These deposits have been developed extensively in Canada, with dozens of past, and current, gold-mining operations.

For example, the New Gold mine, located just across the boarder and in the Rainy River Watershed (which encompasses the Boundary Waters), has identified 3.8 million ounces of gold reserves. Gold reserves are gold deposits that are profitable to mine. This gold would be valued at $5.1 billion at today’s gold prices.

The success of gold-mining endeavors in Canada has spurred serious interest in Minnesota.

According to the Minnesota Department of Natural Resources, six areas are currently being explored for gold deposits. These deposits are located at Bigfork, Cook, International Falls, Linden Grove, Vermillion, and Virginia Horn. Altogether, there are currently 62 areas in the state considered as potential gold prospects in these areas.

Whether similar gold reserves will be discovered in Minnesota remains to be seen. Further drilling and testing will determine whether our state has sufficient gold reserves to merit its own mines, someday.

 

 

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