Even if Cominco does turn up something exceptional this summer near Carl Ritter, it could be 10 years before the find evolves into a mine. Resolute worried Cominco has set up camp in Carl Ritter Bay this summer, in what some say is a last ditch effort to find a new large deposit in the High Arctic. And this may not be soon enough to save Resolute. In Resolute, there's a rash of hopeful rumours floating around to the effect that Cominco is on the verge of making the biggest find ever in Carl Ritter Bay. Some say they've heard that after the Polaris mine closes, Cominco plans to float its mining facilities on Little Cornwallis Island up to Ellesmere Island.
People always get their hopes up.
They get a kind of fever, but if metal was this easy to find, they'd be giving it away for free. Businesses in Resolute know they will face a hard blow when Polaris closes, and First Air has to pull out its jet service due to a reduced demand for passenger and cargo transport. The Nunavut government has assured Cominco of its desire to support more mining development in the High Arctic, but Gunning said it's too early to say how supportive the new territory will actually be. It won't be until someone finds something big, and, then, we'll watch what happens. Geologists at Carl Ritter Bay say Nunavut's most promising mining prospect to watch is the Meliadine gold find near Baker Lake.