NORTHWEST TERRITORIES - Fortune Minerals Limited has received the Tlicho land access agreement for its NICO gold-cobalt-bismuth-copper project 160 km northwest of Yellowknife. This is one of the first permits issued under the Tlicho (aboriginal) government's new Land Use Plan Law that came into effect on June 1, 2013, ending the moratorium on development on Tlicho-owned lands.
In a letter to Fortune, Tlicho Grand Chief Eddie Erasmus commented, "Your company is a significant investor in mineral resources surrounded by Tlicho fee simple lands. We are confident that our Land Use Plan Law will provide guidance to your company with respect to the various requests for access through our lands for the scheduling of mine development."
This permit will allow Fortune to complete geotechnical and other work needed for detailed engineering for the NICO access road this summer. Subject to receipt of final permits and financing, Fortune plans to commence site preparations at NICO this summer, including construction of laydown areas to receive equipment and materials this winter required for construction in 2014.
Learn more about the NICO project and the planned hydrometallurgical refinery at FortuneMinerals.com.