Silver Under the Sea; the Story of the Silver Islet Mine Near Thunder Bay, Ontario, Canada

"The mining location of the Silver Islet Mine was first prospected and patented in 1845 by Joseph Woods and sold in 1846 for a small profit to the Montreal Mining Company, which had already obtained large holdings in the area.... This mining location was almost entirely neglected for 22 1/2 years until in 1868, silver was found near Fort William." After a cost study of developing this mine showed that development costs would be too, major Alexander Sibley of Civil War fame stepped in and bought the rights to the mine that became, reputedly the richest silver mine in the world.