Based on recent news and announcements, one of the most significant Canadian silver discoveries is the Queensway Project located in Newfoundland and Labrador, held by New Found Gold Corp. The project has yielded promising initial drill results, with high-grade gold found close to the surface. Eric Sprott, a renowned investor and founder of Sprott Inc., has made a significant investment in New Found Gold, stating that he believes the discovery could be “the greatest gold discovery in the history of Canada”.
Another notable silver discovery is the Caribou Zinc-Lead-Silver Mine in New Brunswick, owned by Trevali Mining. The mine produced an estimated 1,726 Thousand Ounces of silver in 2020 and is expected to operate until 2024.
Additionally, the Canadian Malartic Mine in Quebec, owned by Agnico-Eagle Mines, produced an estimated 685.774 Thousand Ounces of silver in 2020 and is expected to operate until 2028.
It’s worth noting that the Rainy River Gold Project in Ontario, owned by New Gold, produced an estimated 459.84 thousand ounces of silver in 2023 and is expected to operate until 2031.
These discoveries and mines are significant contributors to Canada’s silver production and demonstrate the country’s potential for further discoveries and growth in the industry.