NORTHWEST TERRITORIES - Fortune Minerals of London, ON, and the Tlicho Government have signed a co-operating relationship agreement for Fortune's NICO gold-cobalt-bismuth-copper project 160 km northwest of Yellowknife and 50 km north of the Tlicho community of Whati. The agreement establishes the framework and means of future negotiations as well as a communications protocol between the two parties.
Fortune has agreed to fund a traditional knowledge (TK) study of the NICO project. The study will be carried out by the Tlicho government, and the results will contribute to the environmental assessment process. The objectives, scope and financial terms of the TK study are spelled out in a separate agreement.
The Tlicho government and Fortune have also signed an environmental assessment funding agreement to support the indigenous community with the review of the NICO project developer assessment report (DAR). Fortune has already received the first requests for information from the Tlicho government and is in the process of responding.
The 31-million-tonne NICO deposit will be developed using a combination of open pit and underground mining to supply a 4,650-t/d mill at the site for 18 years. The mill is to produce approximately 180 t/d of bulk concentrate that will be shipped south to the company's proposed hydrometallurgical refinery near Saskatoon for further processing.
More information about the environmental assessment and permitting of the NICO project is posted at www.FortuneMinerals.com.
Comments