Not all promoters come from the Murray Pezim mold (June 18, 1990)

John Ternowesky, a Thunder Bay, Ont., grain handler turned mining promoter reckons he’ll be able to survive the current exploration slump that is driving dozens of his colleagues out of the mining game. Having acquired a sizable tract of ground in the hot Moss Twp. Burchell Lake camp where Noranda (TSE) and Central Crude (TSE) are active, he is fortunate enough to be able to raise money needed to develop any properties that show potential.

A staunch believer in the mine- making potential of the Moss Twp. region 70 miles east of Thunder Bay, Ternowesky admits that times are tough in northwestern Ontario. He is also quick to concede, that without government-backed exploration incentives it is more important than ever for prospectors and small-time promoters to have good properties under their belts.

“If you have something good you can still raise money,” said Ternowesky, who is currently benefiting from speculation that Moss Twp. could support a big tonnage, low-grade gold/porphyry deposit.

This new thinking is supported by results from deep drill holes located near Inco’s Shebandowan nickel-copper mine, including 998 ft. of grade 0.026 oz. gold per ton.

As Central crude expects to increase those values by using metallic instead of fire assaying methods, Ternowesky has been approached by every large mining company in the country. He is now attempting to obtain a public listing for a private company Fountain Lake Resources in a bid to finance exploration in the Burchell Lake area north of Moss Twp.

He is also a director of Broad Horizon, a private U.S. company, which recently optioned a piece of ground in Burchell Lake to Hemlo Gold affiliate Central Crude. Limited drilling on that ground has yielded a number of interesting values including 375.3 ft. of 0.15% copper and 134.5 ft. of 0.29% copper.

Like fellow promoter David Petrunka, who manages country music singers as a sideline, Ternowesky works from the basement at his home in Thunder Bay. With the help of a fax machine and his 78-year-old mother Marie, he spends much of his working day either checking out properties or dealing them to other promoters and mining companies.

A former handler with United Grain Growers, he obtained his prospecting licence in 1968. After 20 years in the business, all the effort, he says, is starting to pay off.

“I’m involved in good situations which appear to be able to attract a lot of funding,” said Ternowesky. He was referring to his involvement in Moss Twp. where Hemlo Gold is planning to spend an extra $2 million for expanded exploration on gold claims held by Central Crude. Held under option from Tandem Resources (ME) and Storimin Exploration (ASE), they are known to contain five gold zones hosting two million tons of grade 0.17 oz. gold.

Situated within a low grade gold halo extending along strike for 5,000 ft., the Moss Twp. deposit is regarded by Thunder Bay consulting geologist Garry Clark as the only “valid exploration bet” currently attracting money in the region.

News that Central Crude is getting much larger copper and gold values by reassaying Moss drill core has attracted companies and would- be promoters who can’t generate interest in other areas because of the exploration slump.

Asked about the amount of activity outside of Moss Twp., Petrunka said, “Downturn isn’t the word. It’s dead.” As an owner of royalties on Nuinsco Resources’ (TSE) stalled gold project at nearby Cameron Lake, he is waiting for the Toronto company to announce its intentions with regard to the project.

He is also involved in Burchell Lake through his involvement with Sibley Mineral Resources. “The government’s decision to end flow- through financing has been a total disaster for anyone involved in exploration,” said Petrunka. “Unless you are known and established, you are not going to fare well.”

Even so, despite all of the uncertainty and the long working days, Ternowesky, 46, says he continues to enjoy his work as an “entrepreneurial type, cum mining exploration person.”

“I’m not in the same category as (high-profile Vancouver promoter) Murray Pezim,” said Ternowesky. While Pezim is surrounded by people who hire contractors to stake properties and do many of the behind-the-scenes option deals for him, the Thunder Bay promoter has to do all of those things himself.

“I can do things as I see fit and I don’t have to answer to anyone,” said Ternowesky who claims his involvement in Moss Twp. will earn him about $100,000 this year. Most of that will come in the form of investments and a lot will be put back into exploration. “I’m seeing the fruits of my labor in Moss Twp. and I’m really enjoying that,” he said.

John Ternowesky, a Thunder Bay, Ont., grain handler turned mining promoter reckons he’ll be able to survive the current exploration slump that is driving dozens of his colleagues out of the mining game. Having acquired a sizable tract of ground in the hot Moss Twp. Burchell Lake camp where Noranda (TSE) and Central Crude (TSE) are active, he is fortunate enough to be able to raise money needed to develop any properties that show potential.

A staunch believer in the mine- making potential of the Moss Twp. region 70 miles east of Thunder Bay, Ternowesky admits that times are tough in northwestern Ontario. He is also quick to concede, that without government-backed exploration incentives it is more important than ever for prospectors and small-time promoters to have good properties under their belts.

“If you have something good you can still raise money,” said Ternowesky, who is currently benefiting from speculation that Moss Twp. could support a big tonnage, low-grade gold/porphyry deposit.

This new thinking is supported by results from deep drill holes located near Inco’s Shebandowan nickel-copper mine, including 998 ft. of grade 0.026 oz. gold per ton.

As Central crude expects to increase those values by using metallic instead of fire assaying methods, Ternowesky has been approached by every large mining company in the country. He is now attempting to obtain a public listing for a private company Fountain Lake Resources in a bid to finance exploration in the Burchell Lake area north of Moss Twp.

He is also a director of Broad Horizon, a private U.S. company, which recently optioned a piece of ground in Burchell Lake to Hemlo Gold affiliate Central Crude. Limited drilling on that ground has yielded a number of interesting values including 375.3 ft. of 0.15% copper and 134.5 ft. of 0.29% copper.

Like fellow promoter David Petrunka, who manages country music singers as a sideline, Ternowesky works from the basement at his home in Thunder Bay. With the help of a fax machine and his 78-year-old mother Marie, he spends much of his working day either checking out properties or dealing them to other promoters and mining companies.

A former handler with United Grain Growers, he obtained his prospecting licence in 1968. After 20 years in the business, all the effort, he says, is starting to pay off.

“I’m involved in good situations which appear to be able to attract a lot of funding,” said Ternowesky. He was referring to his involvement in Moss Twp. where Hemlo Gold is planning to spend an extra $2 million for expanded exploration on gold claims held by Central Crude. Held under option from Tandem Resources (ME) and Storimin Exploration (ASE), they are known to contain five gold zones hosting two million tons of grade 0.17 oz. gold.

Situated within a low grade gold halo extending along strike for 5,000 ft., the Moss Twp. deposit is regarded by Thunder Bay consulting geologist Garry Clark as the only “valid exploration bet” currently attracting money in the region.

News that Central Crude is getting much larger copper and gold values by reassaying Moss drill core has attracted companies and would- be promoters who can’t generate interest in other areas because of the exploration slump.

Asked about the amount of activity outside of Moss Twp., Petrunka said, “Downturn isn’t the word. It’s dead.” As an owner of royalties on Nuinsco Resources’ (TSE) stalled gold project at nearby Cameron Lake, he is waiting for the Toronto company to announce its intentions with regard to the project.

He is also involved in Burchell Lake through his involvement with Sibley Mineral Resources. “The government’s decision to end flow- through financing has been a total disaster for anyone involved in exploration,” said Petrunka. “Unless you are known and established, you are not going to fare well.”

Even so, despite all of the uncertainty and the long working days, Ternowesky, 46, says he continues to enjoy his work as an “entrepreneurial type, cum mining exploration person.”

“I’m not in the same category as (high-profile Vancouver promoter) Murray Pezim,” said Ternowesky. While Pezim is surrounded by people who hire contractors to stake properties and do many of the behind-the-scenes option deals for him, the Thunder Bay promoter has to do all of those things himself.

“I can do things as I see fit and I don’t have to answer to anyone,” said Ternowesky who claims his involvement in Moss Twp. will earn him about $100,000 this year. Most of that will come in the form of investments and a lot will be put back into exploration. “I’m seeing the fruits of my labor in Moss Twp. and I’m really enjoying that,” he said.