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‘Mother nature never gives up the gold easy’: Terrace prospector lands first deal

Loan Wolf Exploration set to start drilling this spring
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Self-taken photo of Jason Chornobay outside, north of Terrace. (Photo courtesy of Jason Chornobay)

Jason Chornobay has been working in the prospecting and mining industries since he was 15 years old. Now he thinks he may have found a site that will pay off long-term.

The site that Chornobay calls ‘the Holy Grail’ was bought by the Prospect Ridge Resources Corporation in 2021. It extends north from about 10 kilometers north of Terrace.

Just northwest of the properties is the southern tip of the Golden Triangle, a historically lucrative area known for not just gold, but silver, copper and molybdenum deposits as well.

Bern Klein, a professor at the UBC department of mining engineering, suggested tempering expectations.

“The success rate for exploration companies to convert a deposit to an operating mine is very low,” Klein said.

If a project does come to fruition however, mining companies will typically begin a process of working with any local communities.

“Local employment is often important to development of mining projects — the term used is Social License to Operate,” said Klein.

“It usually involves engaging local communities at early stages to discuss the plans, local employment, and environmental stewardship.”

This opportunity has taken many years in the making for for Chornobay.

“My father got me into the industry.

“I started out with grunt work in the camps. There’s no part of prospecting and exploration I haven’t worked.”

Now operating his own company, Loan Wolf Exploration, Chornobay says he’s set to start drilling this spring.

Drilling at the nearby Knauss Creek property started in August, 2022.

Prospector’s endure long hours in difficult situations but for those who have caught the gold bug, Chornobay thinks the challenges are worth it.

“I started Loan Wolf Exploration in 2020, working 20-hour-days seven-days-a-week,” said Chornobay.

“You have to love it when it’s pouring rain, when you’re being eaten by mosquitoes. I get chased by bears, like, every year.”

Chornobay received up front royalty payments from Prospect Ridge and if the project is successful he stands to receive ongoing payments of 3 per cent of net smelter returns.

“I believe junior exploration has got a bad rep from amateur prospectors and geologists who aren’t really passionate about it,” said Chornobay.

“The missing link is guys like me.

“For me it’s not work. It’s what I love to do… Mother nature never gives up the gold easy.