The Komis Deposit

The Komis Deposit was discovered in the 1950's, and considered to be equivalent to the Seabee mine. As an underground mine, it grades about the same as Seabee does. Seabee itself was discovered in 1949 and didn't see production until the onset of the bear market in gold prices in the 1990's.

The deposit grades about 7g/t and results from prior operation in the Komis deposit grades about the same. Grades could be higher for Komis if they manage to get around the problem of grade dilution with somewhat wider veins at depth. Komis was shut down largely due to the decline of the gold price.

Most of the effort by larger gold mining interests in the La Ronge focussed on developing open pit mines during the 1980's. Open pit mines were thought the best approach to mining since, the gold price could not be relied upon and the shortest term possible fly by night plan was to be implemented should production be undertaken.

In fact, despite superior grades in the La Ronge, gold mining projects were mostly fly-by-night with no serious plan to develop and grow long term despite the abundance of gold showings. The discovery of Bingo in 1991, now the Roy Lloyd mine has greatly changed the prospects for the La Ronge Gold Belt.

Even the GBN.V management attempted to promote its own projects as open pit mines for several years. But the GBN.V management can't seem to get around the problem of share dilution, and run at the mouth when it comes to making promises to shareholders.

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