Gold still glitters for geologist Labrenz

Darin Labrenz. — Photo courtesy Pure Gold Mining

Like any kid growing up in Alberta, Darin Labrenz enjoyed “collecting colourful rocks” and “dreaming of a world full of dinosaurs.” But it wasn’t until he took an entry level geology course during his first year of university that he began to think seriously about geology as a potential career path.

“In lecture after lecture, watching slide after slide of exotic places,” said Labrenz, “it drew on my deep-rooted interest in the earth and earth processes as well as my desire to travel.”

He announced his plans at a family dinner toward the end of that school year. Despite living in oil-rich Alberta, his family didn’t know much about what geologists did, and they responded to his decision with surprise. But once he explained it was an opportunity to earn a living while seeing the world, they began to catch the vision.

“I told them I couldn’t see everywhere, but I could try,” said Labrenz.

Labrenz always assumed he would go into petroleum geology, but when he graduated from the University of Alberta in the late 1980s the petroleum industry was in a down cycle, so he sent out resumes to several mining companies instead. That led to a job with Equity Silver in northern British Columbia, where he worked for a year before landing a position in the foreign exploration department of Placer Dome, a post that eventually took him to Malaysia, Guyana, Tanzania and many other locales.

Labrenz’s career has also been marked by the thrill of discovery. He spent many years working on the exploration side of geology, doing feasibility studies and evaluations of both open pit and underground mining operations.

“I’ve had the great opportunity to work on a number of advanced exploration programs that turned into operating mines,” Labrenz said.

One of his most fulfilling discoveries was in Tanzania, where some clever geology work allowed him and his team to determine that a major deposit had sunk rather than lifted along a fault line. That discovery led to the opening of a mine that is still operating today.

Despite the excitement such discoveries elicit, Labrenz notes that one of the key skills he has had to develop along the way is the ability to keep his emotions under control.

“Geologists are eternal optimists,” he said. “We always think the next great discovery is the project we’re working on. We tend to fall in love with our projects, and there’s a need to distinguish between those that are merely interesting and those that will actually develop into mines. You have to keep your emotions in check and listen to the data.”

Such a skill is doubly important it his role as CEO of junior company Pure Gold Mining, a position he has held for three years.

Darin labrenz (L) and Stan Dodd (R) confer in the Treasure Box Zone of the Madsen project in northwestern Ontario. — Photo courtesy Pure Gold Mining

“One of the things I’ve said in my life is I always want to learn new skills,” Labrenz said. “There are many days when I sit back and itch for the time when I was looking at rocks and analysing data, but I’m growing a skill set with respect to capital markets, understanding relationships with investors, strategic partners and the strategic direction of companies.”

Even though he spends more time at head office these days than inspecting core samples, he still hasn’t lost his optimism.

“Our motto is dreaming big, which is what has me excited,” said Labrenz. “Pure Gold is a junior company, and I would say we are quite an entrepreneurial group, which is very different from working for a senior.”

Labrenz and his team can be forgiven if their excitement gets the better of them these days. Pure Gold’s Madsen project, located in Ontario’s legendary Red Lake district, is ranked as the 14th highest-grade undeveloped deposit in the world. The property has hosted two previous mines, including the Madsen Mine, which produced 2.4 million ounces of gold. With so much potential on tap, not even the recent drag in metals prices can dampen Labrenz’s spirits.

“I’m very optimistic about the future of the industry in Canada,” he said. “Mining is just as cyclical if not more so than the petroleum industry. We’ve been riding on the bottom and have been for some time, but the fundamentals of the commodity are strong. It can be discouraging to look out there and realize there’s not a lot of interest in your industry, but if you put your strategy together and execute it, success will follow.”

Drilling down

NameDarin LabrenzCompanyPure Gold MiningMust readsThe 100-Year-Old Man Who Climbed Out the WindowQuotableFear of failure often inhibits personal growth. You’ve got to be optimistic. You’ve got to believe in what you’re doing. They won’t all win, but you certainly won’t win if you don’t try.