Canadian Mining Journal


GOLD: Explor, First Nations sign MOU for Montrose property

Montrose is one of many gold properties held by Explor in the Abitibi Greenstone Belt. (Credit: Explor Resources)

ONTARIO – Explor Resources of Rouyn-Noranda, Que., and the Matachewan First Nation of Matachewan, Ont., and the Mattagami First Nation of Gogama, Ont., have signed a memorandum of understanding for Explor’s Montrose gold property 8 km northwest of Matachewan.

The MOU sets out the areas in which Explor and the First Nations have agreed to work together notably on mutual key interests such as environmental protection, employment and business opportunities, education and training for the First Nations communities.

Explor has agreed to issue 500,000 common shares to each First Nation, making them equity holders in the company and giving them a share of the success of the Montrose project.

The Montrose property lies on the north and east sides of the former producing Stairs gold mine. Explor is planning a two-phase exploration program. Phase one will select structural targets by performing ground exploration, doing an airborne geophysical survey, and reviewing existing technical data. Phase two will consist of diamond drilling.

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