Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Northern Gold Mining Inc. (TSX VENTURE:NGM) and the Wahgoshig First Nation jointly announced on Friday that a strong cooperation and working relationship has developed since Northern Gold first began working on the Garrison Gold property two years ago.
“We are thrilled to have established a great working relationship with our neighbours, the Wahgoshig First Nation who are located slightly north of our Garrison Property,” said Martin Shefsky, President and CEO of Northern Gold Mining Inc. “We are confident that the mutual respect developed during the past two years will continue to be a guiding principal as Northern Gold moves forward with exploration and development of the Garrcon Gold Deposit”.
“Wahgoshig First Nation is pleased to have Northern Gold Mining Inc. as a neighbour and exploration company that respects and cooperates with First Nation Peoples,” said David Babin, Chief of Wahgoshig First Nation.
“Northern Gold has kept us informed of their exploration activities and continues to use services the band provides and also employs band members on a regular basis. The Company has recently suggested new ways in which we can expand our areas of cooperation.” Chief Babin added, “At our last meeting, Northern Gold and Wahgoshig decided that given the current state of exploration on the Garrison Gold Property, the parties have agreed that the time has arrived to begin negotiations on an Impact Benefits Agreement (IBA) for the Garrison Gold Property.”
Northern Gold Mining Inc. is a TSX-V listed, publicly traded junior resource company based in Toronto, Ontario, dedicated to the discovery and development of high value mineral deposits in the proven mining camps of Kirkland Lake and Timmins in North Eastern Ontario. Northern Gold is focused on developing two advanced stage gold deposits on its 100% owned Garrison Gold Property.
In addition to the advanced stage Jonpol and Garrcon Gold Deposits, both of which have NI 43-101 compliant mineral resource estimates presented in independent NI 43-101 Technical Reports posted to SEDAR (October 21, 2009, October 23, 2010 and August 8, 2011), the property hosts several other gold mineralized showings including the less advanced 903 gold mineralized area. A Preliminary Economic Assessment is included in the 43-101 Technical Report posted to SEDAR August 8, 2011. The Garrison Gold Property has historical mining infrastructure at both the Jonpol and Garrcon Deposits, and currently producing mines are located near the property.
