Heritage Silver Trail, Cobalt
Silver rush! The billion dollar bonanza and cradle of Canadian mining
A miner drilling underground at Cobalt. Photo courtesy of the
Cobalt Mining Museum.
Silver was discovered on the shores of Cobalt Lake in the summer of 1903. Within a
few years, Cobalt became one of the largest silver producers in the world, supplying
an astonishing 333 million ounces, or more than 10 000 tonnes, of silver by 1922 from
100 mines. In fact, Cobalt’s silver fortunes far exceeded those made from Klondike
gold. But like many mining rushes, the glory days of Cobalt were relatively brief.
Mining at the early busy pace continued until the 1930s, after which there was a
gradual decline to the 1970s.
Because of those rst 3 decades, however, Cobalt’s silver mines can lay claim to being
the birthplace of hard rock mining in Canada. While the nickel mines of Greater
Sudbury had been operating since the late 1880s, Cobalt’s ores were near the
surface, and men with limited experience and means could prospect, begin mining
and improve their skills as they mined deeper. Many miners learned their trade in
Cobalt, and then moved on to discover gold in Kirkland Lake, Timmins and elsewhere.
The hundreds of relatively small mines developed early in Cobalt’s history were
consolidated over the years into bigger mining companies that went on to develop
mines elsewhere.
The Cobalt Stock Exchange relocated to Toronto to become the Toronto Stock
Exchange, and Cobalt mines greatly increased the wealth of Canadian banks.
Moreover, the riches from Cobalt funded railways that opened up Northern Ontario.
Mining technology was pioneered at the mines in Cobalt, and generations of mining
specialists who trained at the nearby Haileybury School of Mines went on to develop
mines across Canada and around the world.