Canada invests $70m in Seymour Lake lithium project in Ontario
The lithium mine operated by Australia's Green Technology Metals could become the province's first lithium producer.
Metals Creek Resources (TSXV: MEK) and the Mishkeegogamang First Nation signed a memorandum of understanding to establish a long-term, mutually beneficial and co-operative relationship for the development of the Dona Lake gold project in Ontario, Canada.
The 1063-hectare property was optioned by Metals Creek from Newmont in mid-2019 and is located in the Pickle Lake Greenstone Belt, within the Mishkeegogamang’s Nation’s traditional territory.
There are four known gold-bearing oxide iron formations that host gold mineralization on the Dona Lake Gold project. The more pyrrhotite rich sections of the iron formation within the Dona Lake deposit tend to exhibit a strong spatial relationship to increased gold mineralization.
There are four known gold-bearing oxide iron formations that host gold mineralization on the Dona Lake Gold project
The MoU, “affirms our company’s belief that mineral exploration and mining, in addition to creating value for shareholders, can and should be a positive catalyst for environmental stewardship, economic development, and social responsibility,” Alexander Stares, the miner’s CEO, said in a media statement.
“We conduct our business activities in pursuit of these outcomes, and to create shared value with First Nations, host communities and other stakeholder groups.”
At present, Metals Creek is finalizing its 2020 exploration plans, as it has already received exploration permits for an initial, 1200-metre drill program.
“Two shallow holes will test the Main Zone and B Zone and a deep hole to confirm the continuation of mineralization at depth on the Main Zone,” the media release reads.
“Additional planning is currently underway for an upcoming summer prospecting program to follow up on targets generated by the recently flown Airborne including the newly discovered oxide iron formation with similar style mineralization to that of the gold-bearing iron formations that host the Dona Lake gold mineralization. A comprehensive soil survey is also in the planning stage for peripheral targets.”
