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Fortune Minerals Receives Tlicho Land Access Permit
One of the first permits issued under Tlicho Government's new Land Use Plan Law provides a...
About this update from Fortune Minerals Limited
[{"type":"text","content":"\n\n\nOne of the first permits issued under Tlicho Government's new Land Use\n Plan Law provides access to Tlicho Lands for the NICO project \n\n\nIssued Capital: 121,276,976\n\n\nLONDON, ON, July 3, 2013 /CNW/ - Fortune Minerals Limited (TSX: FT) (OTCQX: FTMDF) (\"Fortune\" or the \"Company\") (www.fortuneminerals.com) is pleased to announce receipt of a Tlicho Land Access Agreement for\n the Company's NICO gold-cobalt-bismuth-copper project in the Northwest\n Territories (\"NT\"). This is one of the first permits issued under the\n Tlicho (aboriginal) Government's new Land Use Plan Law that came into\n effect on June 1, 2013, ending the moratorium on development on Tlicho\n owned lands. This permit will allow the Company to complete\n geotechnical and other work needed for detailed engineering for the\n NICO Project Access Road (\"NPAR\") this summer. Subject to receipt of\n final permits and financing, Fortune plans to commence site\n preparations at NICO this summer, including construction of laydown\n areas to receive equipment and materials this winter required for\n construction in 2014.\n\n\nThe Tlicho Land Use Plan Law was initiated by the Tlicho Government\n following completion of the Tlicho Land Claim and Self Government\n Agreement signed with the federal and Northwest Territories governments\n in 2005.  In addition to the establishment of self-government, this\n agreement gave the Tlicho Government fee simple ownership of\n approximately 39,000 square kilometres of lands surrounding the NICO\n project. These lands represent one of the largest single blocks of\n privately owned lands in Canada (approximately half the size of New\n Brunswick) and host significant mineral potential. The Land Use Plan\n Law sets a framework for development on Tlicho lands, including\n consideration of transportation corridors, utility and hydropower\n corridors, and mineral and other development. Existing mining leases\n and mineral claims, such as NICO, have been grandfathered into the\n Tlicho Agreement.\n\n\nIn a letter to Fortune, Tlicho Grand Chief Eddie Erasmus commented,\n \"Your company is a significant investor in mineral resources surrounded\n by Tlicho fee simple lands. We are confident that our Land Use Plan Law\n will provide guidance to your company with respect to the various\n requests for access through our lands ...