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Murray Pezim
Born in Toronto on December 29, 1920, Pezim served his country
during the Second World War before turning to a career in the
brokerage industry. He later tried his hand at running junior
companies, but success was elusive until he backed International
Corona Resources, then exploring a gold prospects in Ontario in the
early 1980s. Major companies did not view the property as promising, as
drilling on several showings returned poor results. The lack of
interest in the property was compounded by an atypical geological
setting which did not conform to the conventional quartz-vein-type
gold deposits exploited in the past. Pezim ignored the skeptics and continued to promote Corona and
raise funds for a drill program outlined by geologist David Bell.
The good results the industry finally took notice of were the
fruit borne of 76 drill holes and an exploration expenditure of $2
million. Corona eventually secured Teck Corporation as a partner
in developing the David Bell mine. Teck also backed Corona's legal battle with Lac Minerals for
ownership of an adjacent property. It was generally thought that
Corona had little chance of success, but, in August of 1989, Teck
and Corona were awarded control of the rich Williams mine Lac
had built in the Hemlo camp. Although Pezim eventually lost control of Corona, the Hemlo camp
continues to provide economic benefits for the people of Canada;
the three gold mines there account for the bulk of Canada's gold
production. Pezim undertook another project in the late 1980s, raising funds
for Calpine Resources, which was exploring the rugged and remote
Eskay Creek property in northern British Columbia. Calpine and
partner Stikine Resources encountered success soon after work
began, but excitement waned when the 21A deposit was found to
contain complex metallurgy. Pezim remained a believer, however, and supported the
recommendation of his geological team, headed by Chet Idziszek, to
continue drilling in the summer of 1989. Pezim's faith was
rewarded when a stepout hole, the 109th drilled on the property,
returned 682 feet grading 0.88 ounces of gold per ton. Subsequent
work led to the discovery of the rich 21B deposit, which is
currently being mined. Pezim also played a role in developing the Snip gold and
Goldstream polymetallic mines in British Columbia and the Jolu gold
mine in Saskatchewan.
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